Textron (NYSE:TXT) Price Target Cut to $92.00 by Analysts at Robert W. Baird

Textron (NYSE:TXT) had its price target dropped by equities researchers at Robert W. Baird from $100.00 to $92.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the aerospace company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 17.35% from the stock’s current price.

A number of other equities research analysts have also commented on the company. TD Cowen upgraded Textron to a “hold” rating in a research report on Thursday, December 19th. Barclays reduced 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. JPMorgan Chase & Co. reduced their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. Finally, Citigroup reduced their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.73.

Textron Trading Down 3.5 %

Shares of TXT stock opened at $78.40 on Thursday. The firm has a market capitalization of $14.54 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.24 and a beta of 1.27. Textron has a twelve month low of $74.89 and a twelve month high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $80.19 and its 200 day simple moving average is $85.01.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3,778,060 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 EPS. As a group, sell-side analysts predict that Textron will post 5.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its holdings in Textron by 3.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock worth $39,145,000 after acquiring an additional 16,359 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 163 shares during the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Textron by 4.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock worth $327,000 after purchasing an additional 169 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Textron by 19.3% in the fourth quarter. Pacer Advisors Inc. now owns 16,555 shares of the aerospace company’s stock worth $1,266,000 after purchasing an additional 2,679 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Textron by 36.1% in the fourth quarter. Blue Trust Inc. now owns 2,606 shares of the aerospace company’s stock worth $199,000 after purchasing an additional 691 shares during the last quarter. 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.