According to a note sent out to clients on Thursday, the Goldman Sachs Group reportedly informed them that they were increasing their price objective on Textron (NYSE: TXT) from $80.00 to $90.00. The previous price objective was $80.00. Bloomberg.com reportedly reported this information. The aerospace company’s shares are currently rated by the company as a “buy,” the highest possible rating. The target price determined by Goldman Sachs Group takes into account an increase greater by 30.75 percent than the stock’s most recent closing price.
In recent years, TXT reports have been generated by more brokerages than in the past. In a report published on Friday, October 28, Morgan Stanley lowered their rating on Textron shares from “overweight” to “equal weight” and lowered their target price for the company’s stock from $90.00 to $84.00. Textron’s stock was given a “strong-buy” rating on October 6 by the financial website StockNews.com, which had previously suggested buying the company’s stock. The website also recommended buying the stock. Textron stock was added to Sanford C. Bernstein’s coverage universe on September 13, the day after the market opened. They rated the company’s performance in the market as “market perform” overall. Two analysts have suggested that investors maintain their current position in the stock, while three others have rated a purchase of it as a buy, and a single analyst has rated a purchase of it as a strong buy. The information from Bloomberg indicates that the company has been assigned an overall rating of “Moderate Buy” and that the target price is forecast to be $81.67 on average.
Eight hundred twenty-one shares were traded on Thursday, compared to the daily average volume of 1,257,127. The closing price of the NYSE TXT was $71.13, reflecting a decrease of $0.89 from the previous trading day. The company’s market capitalization is currently sitting at $14.85 billion. It has a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.17, and a beta of 1.51. During the past year, the price of Textron has fluctuated between $57.11 and $79.45, reaching an all-time low of $57.11 and an all-time high of $79.45. The moving average for the stock over the past 50 days is $67.76, and the moving average for the past 200 days comes in at $64.74, respectively. The debt-to-equity ratio is currently at 0.53, the quick ratio is currently at 1.17, the current ratio is currently at 2.22, and the fast ratio is currently at 1.17.
Textron (NYSE: TXT) made its most recent quarterly results report available for public consumption on Thursday, October 27, when it presented the report and made it available to the public. The company’s aerospace division reported earnings of $1.06 per share for the quarter, which was $0.12 higher than the consensus estimate of $0.94 per share. The 6.71% net margin and 12.40% return on equity are two indicators that demonstrate Textron’s successful performance. In addition, the company reported revenue of $3.08 billion during the period above, which was lower than the consensus estimate of $3.21 billion among financial analysts. According to the projections made by equity analysts who research the company, Textron is expected to generate earnings of $4.02 per share this year.
In the most recent few months, several well-known shareholders have revised the percentages of ownership in the company they currently hold. During the third quarter of this year, Vanguard Group Inc. increased the proportion of its holdings allocated to Textron by 0.4%. Vanguard Group Inc. now holds a total of 23,702,886 shares of the aerospace company’s stock, which has a market value of $1,380,930,000 after purchasing an additional 84,175 shares of that company’s stock during the most recent fiscal quarter. This brings the company’s total number of shares held by Vanguard Group Inc. to 23,702,886. During the third quarter, BlackRock Inc. brought the total amount of Textron stock it owned to a level that was 1.0% higher than before. Recently, BlackRock Inc. increased its holdings in the stock of the aerospace business by purchasing an additional 163,188 shares. This brought the total number of shares owned by BlackRock Inc. to 16,862,051, with a value of $982,383,000. In the first three months of this year, Invesco Ltd. increased the percentage of Textron stock that it held by 1.3%. Following the acquisition of an additional 140,246 shares during the most recent quarter, Invesco Ltd. now holds 10,564,768 shares of the aerospace company’s stock. The stock is currently valued at $785,807,000 due to Invesco Ltd.’s ownership of these shares. The State Street Corporation acquired an additional 0.5 percent of Textron’s shares during the first quarter of the fiscal year. State Street Corp. now has a total shareholding of 9,564,040 shares after purchasing an additional 47,344 shares during the most recent quarter. The company currently has a market capitalization of $711,561,000. Last but certainly not least, during the third quarter, Boston Partners increased the percentage of Textron holdings that it had. Boston Partners now holds 6,806,157 shares of the aerospace company’s stock, with a market value of $396,864,000. This is the result of the purchase of an additional 200,202 shares during the most recent fiscal quarter. Right now, hedge funds and various other types of institutional investors own 87.80% of the company’s common stock.
Textron Inc. serves a wide range of markets, including the aerospace and defense, industrial, and financial sectors. Textron Aviation is a company division in charge of various aircraft production, sale, and service. These aircraft include business jets, turboprop and piston-engine aircraft, military trainers, and defense aircraft. In addition, Textron Aviation is responsible for producing commercial components and provides maintenance, inspection, and repair services.