Textron (NYSE:TXT) Price Target Cut to $88.00 by Analysts at JPMorgan Chase & Co.

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

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

Textron Price Performance

TXT stock opened at $78.86 on Thursday. The stock’s 50 day moving average is $80.83 and its two-hundred day moving average is $85.19. Textron has a 52-week low of $74.89 and a 52-week high of $97.33. The company has a market capitalization of $14.63 billion, a PE ratio of 17.33, a P/E/G ratio of 1.15 and a beta of 1.27. 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 issued 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 quarter last year, the firm posted $1.49 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Analysts predict that Textron will post 5.45 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Hedge Funds Weigh In On Textron

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empirical Finance LLC boosted its position in Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after acquiring an additional 115 shares during the period. Davis Investment Partners LLC lifted its holdings in Textron by 0.8% in the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock worth $1,290,000 after purchasing an additional 118 shares during the period. Apollon Wealth Management LLC lifted its holdings in Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after purchasing an additional 125 shares during the period. Creative Planning grew its position in Textron by 0.4% in the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock valued at $3,304,000 after buying an additional 165 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Textron by 4.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock valued at $353,000 after buying an additional 175 shares during the period. 86.03% of the stock is owned by 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.