JPMorgan Chase & Co. Cuts Textron (NYSE:TXT) Price Target to $88.00

Textron (NYSE:TXT) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $90.00 to $88.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.93% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Susquehanna decreased their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Barclays decreased their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Thursday, December 19th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Monday, January 6th. Finally, UBS Group cut their price target on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

Textron Stock Up 0.7 %

Shares of NYSE TXT opened at $78.62 on Thursday. The firm has a fifty day simple moving average of $81.01 and a two-hundred day simple moving average of $85.23. Textron has a 12 month low of $74.89 and a 12 month high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $14.58 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.27.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the company earned $1.49 earnings per share. Textron’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts expect that Textron will post 5.45 earnings per share for the current year.

Hedge Funds Weigh In On Textron

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after purchasing an additional 160,923 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after buying an additional 231,173 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Textron by 3.9% during the 2nd quarter. Hsbc Holdings PLC now owns 626,323 shares of the aerospace company’s stock valued at $53,830,000 after buying an additional 23,404 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Textron by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after acquiring an additional 57,967 shares during the last quarter. 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.