The Goldman Sachs Group Reiterates Neutral Rating for Textron (NYSE:TXT)

Textron (NYSE:TXT - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at The Goldman Sachs Group in a report issued on Tuesday, MarketBeat.com reports. They currently have a $85.00 price objective on the aerospace company's stock, down from their prior price objective of $95.00. The Goldman Sachs Group's price objective would suggest a potential upside of 4.35% from the stock's previous close.

A number of other research firms have also recently commented on TXT. Morgan Stanley decreased their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Jefferies Financial Group reiterated a "buy" rating and set a $95.00 price objective (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Citigroup lowered their price objective on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group boosted their target price on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $88.08.

Textron Stock Up 0.6%

Textron stock traded up $0.48 during mid-day trading on Tuesday, reaching $81.46. 323,025 shares of the company were exchanged, compared to its average volume of 1,258,153. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80. The firm has a market cap of $14.71 billion, a P/E ratio of 18.47, a PEG ratio of 1.31 and a beta of 1.17. The business has a fifty day moving average of $74.68 and a 200 day moving average of $73.85. Textron has a 12-month low of $57.70 and a 12-month high of $94.57.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.77% and a net margin of 5.98%. The firm had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the prior year, the business posted $1.20 EPS. The firm's quarterly revenue was up 5.5% on a year-over-year basis. Research analysts anticipate that Textron will post 6.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Textron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXT. Oppenheimer & Co. Inc. grew its position in Textron by 438.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 21,698 shares of the aerospace company's stock valued at $1,660,000 after buying an additional 17,672 shares during the period. Proficio Capital Partners LLC purchased a new position in Textron in the 4th quarter valued at about $6,512,000. US Bancorp DE lifted its stake in Textron by 7.4% in the 4th quarter. US Bancorp DE now owns 27,133 shares of the aerospace company's stock valued at $2,075,000 after buying an additional 1,877 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Textron by 3.3% in the 4th quarter. Metis Global Partners LLC now owns 6,315 shares of the aerospace company's stock worth $483,000 after buying an additional 199 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Textron by 72.8% during the 4th quarter. Jones Financial Companies Lllp now owns 3,069 shares of the aerospace company's stock worth $235,000 after buying an additional 1,293 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

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.