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

Textron (NYSE:TXT) had its price target cut by JPMorgan Chase & Co. from $90.00 to $88.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

Other equities research analysts have also issued reports about the company. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird decreased their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. UBS Group cut their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. Barclays decreased their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, January 6th. One 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

Textron Trading Up 0.4 %

Shares of TXT stock opened at $78.86 on Thursday. The stock has a 50-day simple moving average of $80.83 and a 200 day simple moving average of $85.19. The stock has a market capitalization of $14.63 billion, a P/E ratio of 17.33, a P/E/G ratio of 1.15 and a beta of 1.27. Textron has a fifty-two week low of $74.89 and a fifty-two week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

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

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend was Friday, December 13th. Textron’s dividend payout ratio (DPR) is currently 1.76%.

Institutional Trading of Textron

Hedge funds and other institutional investors have recently modified their holdings of the company. Choreo LLC purchased a new stake in shares of Textron during the 2nd quarter worth about $239,000. Oppenheimer Asset Management Inc. grew its stake in shares of Textron by 7.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 3,775 shares of the aerospace company’s stock valued at $324,000 after buying an additional 256 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Textron by 9.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 75,950 shares of the aerospace company’s stock worth $6,521,000 after buying an additional 6,785 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after acquiring an additional 160,923 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in Textron by 10.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 56,572 shares of the aerospace company’s stock valued at $4,857,000 after acquiring an additional 5,409 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

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.