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

Textron (NYSE:TXT) had its price objective reduced by Robert W. Baird from $100.00 to $92.00 in a report published on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the aerospace company’s stock.

Several other analysts also recently commented on the stock. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Thursday, December 19th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Monday, January 6th. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. Finally, Barclays cut their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $95.73.

Textron Price Performance

Shares of Textron stock opened at $78.33 on Thursday. The stock has a market cap of $14.53 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 1.83. The stock’s fifty day moving average is $80.03 and its 200 day moving average is $84.96. Textron has a one year low of $74.89 and a one year high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3,778,060 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. Sell-side analysts anticipate that Textron will post 6.15 earnings per share for the current year.

Institutional Investors Weigh In On Textron

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after buying an additional 15,294 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Textron during the fourth quarter worth approximately $11,523,000. Jacobs Levy Equity Management Inc. purchased a new stake in Textron during the third quarter valued at approximately $828,000. Easterly Investment Partners LLC lifted its stake in shares of Textron by 87.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after purchasing an additional 19,304 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of Textron in the 3rd quarter worth approximately $1,797,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

About Textron

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.