Barclays Issues Pessimistic Forecast for Textron (NYSE:TXT) Stock Price

Textron (NYSE:TXT) had its price objective decreased by stock analysts at Barclays from $104.00 to $95.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the aerospace company’s stock. Barclays‘s target price would suggest a potential upside of 22.99% from the stock’s previous close.

TXT has been the subject of several other reports. UBS Group dropped their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. Robert W. Baird dropped their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. decreased their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.90.

Textron Stock Performance

Shares of TXT stock opened at $77.24 on Monday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron has a 12-month low of $75.36 and a 12-month high of $97.33. The business’s 50 day moving average is $83.67 and its two-hundred day moving average is $86.31. The company has a market capitalization of $14.33 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. Textron’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.49 EPS. Analysts expect that Textron will post 5.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Textron

Several institutional investors and hedge funds have recently modified their holdings of TXT. Innealta Capital LLC acquired a new position in Textron in the 2nd quarter valued at about $25,000. True Wealth Design LLC purchased a new position in shares of Textron in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Textron in the third quarter valued at approximately $42,000. Truvestments Capital LLC purchased a new stake in Textron during the 3rd quarter worth approximately $43,000. Finally, Venturi Wealth Management LLC lifted its holdings in Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after buying an additional 232 shares in the last quarter. 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.