Jefferies Financial Group Forecasts Strong Price Appreciation for Textron (NYSE:TXT) Stock

Textron (NYSE:TXT - Get Free Report) had its price objective upped by Jefferies Financial Group from $85.00 to $95.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the aerospace company's stock. Jefferies Financial Group's target price points to a potential upside of 22.16% from the company's current price.

TXT has been the subject of several other research reports. TD Cowen raised Textron to a "hold" rating in a research note on Monday, February 24th. UBS Group raised their price target on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. Citigroup lowered their price target 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, Morgan Stanley lowered their price target on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.36.

Textron Price Performance

Shares of NYSE:TXT traded up $0.97 during midday trading on Thursday, hitting $77.77. The company had a trading volume of 1,425,583 shares, compared to its average volume of 1,228,077. The business's 50-day simple moving average is $71.17 and its 200-day simple moving average is $74.39. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The stock has a market cap of $14.04 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Textron has a twelve month low of $57.70 and a twelve month high of $94.57.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. On average, research analysts predict that Textron will post 6.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TXT. Apollon Wealth Management LLC boosted its holdings in Textron by 27.5% in the fourth quarter. Apollon Wealth Management LLC now owns 3,384 shares of the aerospace company's stock valued at $259,000 after purchasing an additional 729 shares during the period. Empowered Funds LLC raised its stake in Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock valued at $1,540,000 after buying an additional 4,480 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Textron in the fourth quarter valued at $68,000. Stanley Laman Group Ltd. raised its stake in Textron by 2.7% in the fourth quarter. Stanley Laman Group Ltd. now owns 40,381 shares of the aerospace company's stock valued at $3,089,000 after buying an additional 1,058 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in Textron by 5.7% in the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock valued at $200,000 after buying an additional 141 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

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.