Textron (NYSE:TXT) Given New $94.00 Price Target at UBS Group

Key Points

• UBS Group raised its price target for Textron from $86 to $94 while maintaining a “neutral” rating, implying approximately 9.71% upside from the stock’s $85.68 opening price.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Hold” rating and a $99 price target, with seven analysts at Hold, three at Buy, and one at Strong Buy.
• Textron exceeded quarterly earnings expectations, reporting $1.76 in EPS versus the $1.43 consensus, while revenue reached $3.75 billion and increased 4.1% year over year.

Textron (NYSE:TXT - Get Free Report) had its price objective raised by analysts at UBS Group from $86.00 to $94.00 in a report released on Friday, Benzinga reports. The firm currently has a "neutral" rating on the aerospace company's stock. UBS Group's price target suggests a potential upside of 9.71% from the stock's current price.

A number of other brokerages also recently weighed in on TXT. TD Cowen lowered their price objective on shares of Textron from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, October 9th. Weiss Ratings cut shares of Textron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, October 27th. Wall Street Zen downgraded Textron from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Morgan Stanley lowered their target price on Textron from $98.00 to $86.00 and set an "equal weight" rating for the company in a report on Friday, October 16th. Finally, Citigroup dropped their price target on Textron from $99.00 to $86.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $99.00.

Textron Price Performance

Shares of NYSE TXT opened at $85.68 on Friday. The company has a current ratio of 1.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Textron has a twelve month low of $71.87 and a twelve month high of $101.57. The business has a 50 day simple moving average of $78.57 and a 200-day simple moving average of $88.32.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The aerospace company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.33. The firm had revenue of $3.75 billion for the quarter, compared to analysts' expectations of $3.77 billion. Textron had a return on equity of 14.34% and a net margin of 6.30%. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business posted $1.55 earnings per share. As a group, equities research analysts expect that Textron will post 6.60 earnings per share for the current year.

Institutional Trading of Textron

Institutional investors have recently made changes to their positions in the stock. Cedar Mountain Advisors LLC bought a new position in shares of Textron in the first quarter valued at approximately $29,000. Security National Bank of SO Dak bought a new stake in Textron during the second quarter worth approximately $30,000. Elevation Wealth Partners LLC lifted its position in Textron by 522.4% in the second quarter. Elevation Wealth Partners LLC now owns 361 shares of the aerospace company's stock worth $33,000 after purchasing an additional 303 shares during the period. Trust Co. of Vermont acquired a new stake in Textron in the second quarter worth approximately $50,000. Finally, Putney Financial Group LLC bought a new position in Textron during the 3rd quarter valued at $61,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Company Profile

Textron Inc NYSE: TXT is a diversified industrial company that develops and manufactures aircraft, helicopters, specialized vehicles, defense systems and other industrial products. Founded in 1923 by Royal Little, the company has grown through the development and acquisition of businesses serving commercial, government and consumer markets.

Textron Aviation produces business jets, turboprop aircraft and general aviation aircraft under the Cessna and Beechcraft brands. Bell designs and manufactures military and commercial helicopters, tiltrotor aircraft and related support services.

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