Citigroup Raises Textron (TXT) Price Target to $67.00

Textron (NYSE:TXT) had its price target increased by Citigroup from $61.00 to $67.00 in a research report report published on Tuesday. Citigroup currently has a buy rating on the aerospace company’s stock.

A number of other equities analysts have also weighed in on the company. Barclays began coverage on Textron in a research note on Thursday, March 29th. They set an overweight rating and a $70.00 target price on the stock. ValuEngine upgraded Textron from a hold rating to a buy rating in a research note on Thursday, March 1st. Jefferies Group reiterated a buy rating and set a $74.00 target price on shares of Textron in a research note on Sunday, February 4th. Cowen reiterated a buy rating and set a $70.00 target price on shares of Textron in a research note on Thursday, February 1st. Finally, Morgan Stanley upgraded Textron from an underweight rating to an equal weight rating and set a $47.00 target price on the stock in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Textron currently has a consensus rating of Hold and a consensus target price of $63.00.

Shares of NYSE TXT opened at $59.05 on Tuesday. The company has a market cap of $15,350.31, a PE ratio of 23.93, a PEG ratio of 1.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 2.19. Textron has a 1-year low of $45.00 and a 1-year high of $62.19.



Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 31st. The aerospace company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.03). The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.06 billion. Textron had a return on equity of 11.58% and a net margin of 2.16%. Textron’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. equities research analysts predict that Textron will post 3.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Friday, March 9th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. Textron’s dividend payout ratio (DPR) is presently 3.27%.

A number of institutional investors have recently bought and sold shares of TXT. Macquarie Group Ltd. increased its stake in Textron by 20.4% during the 3rd quarter. Macquarie Group Ltd. now owns 11,800 shares of the aerospace company’s stock worth $636,000 after acquiring an additional 2,000 shares during the period. Wells Fargo & Company MN increased its stake in shares of Textron by 13.6% in the 3rd quarter. Wells Fargo & Company MN now owns 719,955 shares of the aerospace company’s stock valued at $38,792,000 after purchasing an additional 86,370 shares during the last quarter. BB&T Securities LLC bought a new position in shares of Textron in the 3rd quarter valued at $203,000. Dimensional Fund Advisors LP increased its stake in shares of Textron by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,604,911 shares of the aerospace company’s stock valued at $194,233,000 after purchasing an additional 32,525 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of Textron in the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 83.26% of the company’s stock.

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Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

Analyst Recommendations for Textron (NYSE:TXT)

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