Susquehanna Bancshares Lowers Textron (NYSE:TXT) Price Target to $84.00

Textron (NYSE:TXTGet Rating) had its price objective trimmed by Susquehanna Bancshares from $90.00 to $84.00 in a research note issued to investors on Friday morning, Stock Target Advisor reports. The firm currently has a positive rating on the aerospace company’s stock.

Several other analysts have also issued reports on TXT. Susquehanna decreased their price target on shares of Textron from $90.00 to $84.00 and set a maintains rating on the stock in a research report on Friday. Bank of America restated a maintains rating on shares of Textron in a report on Friday. StockNews.com lowered shares of Textron from a strong-buy rating to a buy rating in a research report on Wednesday, June 29th. Finally, Cowen set a $86.00 price target on shares of Textron in a research report on Tuesday, July 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and a consensus price target of $85.43.

Textron Price Performance

Shares of NYSE:TXT opened at $65.76 on Friday. The firm’s 50 day moving average is $62.50 and its two-hundred day moving average is $67.40. The company has a current ratio of 2.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $14.14 billion, a P/E ratio of 18.12, a PEG ratio of 1.30 and a beta of 1.56. Textron has a 52 week low of $57.11 and a 52 week high of $79.45.

Textron (NYSE:TXTGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The aerospace company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. Textron had a net margin of 6.43% and a return on equity of 12.25%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue was down 1.2% on a year-over-year basis. Analysts anticipate that Textron will post 4.03 earnings per share for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron’s dividend payout ratio is currently 2.20%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TXT. Charter Oak Capital Management LLC bought a new stake in Textron during the 2nd quarter valued at approximately $30,000. Confluence Wealth Services Inc. purchased a new position in shares of Textron in the 4th quarter worth approximately $31,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron during the 2nd quarter valued at $31,000. Allworth Financial LP raised its position in Textron by 53.0% during the 2nd quarter. Allworth Financial LP now owns 560 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 194 shares in the last quarter. Finally, Lindbrook Capital LLC bought a new stake in Textron during the 2nd quarter valued at $37,000. 86.10% of the stock is owned by hedge funds and other institutional investors.

Textron Company Profile

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Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.

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