Susquehanna Trims Textron (NYSE:TXT) Target Price to $105.00

Textron (NYSE:TXT) had its price objective trimmed by Susquehanna from $110.00 to $105.00 in a research note published on Friday morning, Benzinga reports. The brokerage currently has a positive rating on the aerospace company’s stock.

Several other analysts also recently weighed in on the company. Citigroup boosted their target price on Textron from $104.00 to $111.00 and gave the company a buy rating in a report on Thursday, April 4th. StockNews.com raised Textron from a buy rating to a strong-buy rating in a research note on Thursday, January 25th. UBS Group upped their price objective on Textron from $77.00 to $81.00 and gave the company a sell rating in a research note on Friday, January 26th. The Goldman Sachs Group upped their price objective on Textron from $103.00 to $120.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, Bank of America raised Textron from a neutral rating to a buy rating and upped their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Textron currently has a consensus rating of Moderate Buy and a consensus price target of $95.63.

Textron Stock Up 1.9 %

Textron stock opened at $86.51 on Friday. Textron has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.03 and a current ratio of 1.66. The company has a market capitalization of $16.64 billion, a P/E ratio of 18.49, a PEG ratio of 1.36 and a beta of 1.30. The stock has a 50-day simple moving average of $92.10 and a 200-day simple moving average of $83.93.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts expect that Textron will post 6.29 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio is presently 1.71%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Metis Global Partners LLC lifted its stake in shares of Textron by 12.8% during the 3rd quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock worth $796,000 after purchasing an additional 1,158 shares during the period. LSV Asset Management raised its position in Textron by 7.6% in the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after purchasing an additional 230,560 shares during the period. Deutsche Bank AG raised its position in Textron by 36.9% in the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock valued at $42,367,000 after purchasing an additional 146,055 shares during the period. AustralianSuper Pty Ltd raised its position in Textron by 13.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock valued at $7,943,000 after purchasing an additional 11,510 shares during the period. Finally, SG Americas Securities LLC raised its position in Textron by 269.1% in the fourth quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock valued at $1,680,000 after purchasing an additional 15,235 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The 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.