JPMorgan Chase & Co. Cuts Textron (NYSE:TXT) Price Target to $95.00

Textron (NYSE:TXT) had its price objective decreased by JPMorgan Chase & Co. from $100.00 to $95.00 in a report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the aerospace company’s stock.

Other equities research analysts also recently issued reports about the company. Bank of America raised their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and lowered their target price for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. UBS Group raised their price objective on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. Finally, Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $102.75.

Textron Stock Down 0.2 %

Shares of Textron stock opened at $87.66 on Monday. Textron has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $87.59 and a two-hundred day moving average price of $88.46. The stock has a market capitalization of $16.42 billion, a P/E ratio of 18.57, a PEG ratio of 1.43 and a beta of 1.23.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. Textron’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 EPS. Equities analysts expect that Textron will post 6.15 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Friday, September 13th. Textron’s dividend payout ratio is 1.69%.

Institutional Trading of Textron

Institutional investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new position in Textron during the second quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Textron during the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. acquired a new stake in Textron in the 2nd quarter valued at $31,000. Family Firm Inc. bought a new stake in Textron in the second quarter valued at $40,000. Finally, Truvestments Capital LLC acquired a new position in Textron during the first quarter worth $48,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.