Barclays Raises Textron (NYSE:TXT) Price Target to $105.00

Key Points

• Barclays has raised its price target for Textron (NYSE:TXT) from $95.00 to $105.00, indicating a potential upside of 33.86% from the current share price.
• Textron's stock currently holds a consensus rating of "Moderate Buy" from research analysts, with an average target price of $92.67.
• Institutional investors hold a significant stake in Textron, owning 86.03% of the company's stock, showcasing strong institutional confidence.

Textron (NYSE:TXT - Get Free Report) had its price objective upped by stock analysts at Barclays from $95.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the aerospace company's stock. Barclays's price objective points to a potential upside of 33.86% from the company's current price.

Several other equities research analysts have also weighed in on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $85.00 target price (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Citigroup lowered their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. UBS Group raised shares of Textron from a "sell" rating to a "neutral" rating and upped their target price for the stock from $73.00 to $88.00 in a report on Monday. Finally, Susquehanna increased their price objective on shares of Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.67.

Textron Price Performance

Shares of TXT stock traded down $0.12 during mid-day trading on Tuesday, reaching $78.44. The company's stock had a trading volume of 698,036 shares, compared to its average volume of 1,532,678. Textron has a 1-year low of $57.70 and a 1-year high of $93.98. The company has a market cap of $14.16 billion, a P/E ratio of 17.74, a PEG ratio of 1.29 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The firm's 50-day moving average is $79.03 and its two-hundred day moving average is $74.71.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. Textron had a net margin of 5.80% and a return on equity of 14.26%. The company had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.64 billion. During the same quarter in the prior year, the company posted $1.54 EPS. The business's revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Textron will post 6.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TXT. Nuveen LLC bought a new position in shares of Textron in the 1st quarter valued at about $89,403,000. Balyasny Asset Management L.P. raised its position in shares of Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock valued at $94,575,000 after acquiring an additional 1,218,485 shares during the period. Invesco Ltd. raised its position in shares of Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock valued at $591,523,000 after acquiring an additional 1,167,105 shares during the period. Millennium Management LLC raised its position in shares of Textron by 128.7% in the 1st quarter. Millennium Management LLC now owns 1,113,026 shares of the aerospace company's stock valued at $80,416,000 after acquiring an additional 626,346 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Textron in the 4th quarter valued at approximately $41,451,000. Institutional investors own 86.03% of the company's stock.

About Textron

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.

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