The Goldman Sachs Group Boosts Textron (NYSE:TXT) Price Target to $120.00

Textron (NYSE:TXT) had its price objective raised by equities research analysts at The Goldman Sachs Group from $103.00 to $120.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 30.14% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Textron from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 20th. UBS Group upped their price target on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Citigroup increased their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $105.00 in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.63.

Textron Price Performance

NYSE:TXT opened at $92.21 on Tuesday. The firm’s fifty day moving average is $91.43 and its two-hundred day moving average is $83.20. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.47 and a beta of 1.30. Textron has a one year low of $61.27 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Research analysts expect that Textron will post 6.27 EPS for the current year.

Hedge Funds Weigh In On Textron

A number of hedge funds have recently made changes to their positions in TXT. JPMorgan Chase & Co. boosted its position in shares of Textron by 27.7% during the 1st quarter. JPMorgan Chase & Co. now owns 4,596,887 shares of the aerospace company’s stock worth $324,678,000 after purchasing an additional 997,119 shares during the period. Man Group plc purchased a new position in shares of Textron during the 4th quarter worth approximately $64,467,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Textron by 93.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after purchasing an additional 713,169 shares during the period. Swiss National Bank purchased a new position in shares of Textron during the 3rd quarter worth approximately $50,696,000. Finally, LSV Asset Management boosted its position in shares of Textron by 15.9% during the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after purchasing an additional 521,276 shares during the period. 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.