Bank of America Boosts Textron (NYSE:TXT) Price Target to $110.00

Textron (NYSE:TXT) had its target price lifted by Bank of America from $105.00 to $110.00 in a research report sent to investors on Tuesday, Benzinga reports. Bank of America currently has a buy rating on the aerospace company’s stock.

Several other research firms have also recently issued reports on TXT. UBS Group increased their price target on Textron from $84.00 to $87.00 and gave the stock a sell rating in a research note on Friday, July 19th. Susquehanna decreased their price target on Textron from $110.00 to $105.00 and set a positive rating for the company in a research report on Friday, April 26th. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the company a buy rating in a research report on Monday. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Finally, TD Cowen increased their price target on Textron from $100.00 to $103.00 and gave the company a buy rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $101.63.

Textron Trading Up 1.4 %

NYSE:TXT opened at $91.34 on Tuesday. Textron has a 1 year low of $68.02 and a 1 year high of $97.33. The stock has a market cap of $17.42 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.43 and a beta of 1.25. The business has a fifty day moving average of $87.64 and a 200-day moving average of $88.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.66 and a current ratio of 1.64.

Textron (NYSE:TXT) last released its quarterly earnings results 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. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the prior year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities analysts predict that Textron will post 6.26 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kathleen M. Bader sold 11,870 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now directly owns 3,756 shares of the company’s stock, valued at approximately $330,189.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Textron

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Textron during the 2nd quarter worth about $30,000. Oakworth Capital Inc. bought a new stake in shares of Textron in the second quarter valued at approximately $31,000. CVA Family Office LLC acquired a new stake in shares of Textron in the fourth quarter worth $29,000. Family Firm Inc. bought a new position in Textron during the second quarter worth $40,000. Finally, Truvestments Capital LLC acquired a new position in Textron during the 1st quarter valued at $48,000. 86.03% of the stock is 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.