Robert W. Baird Cuts Textron (NYSE:TXT) Price Target to $92.00

Textron (NYSE:TXT) had its price target cut by Robert W. Baird from $100.00 to $92.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the aerospace company’s stock.

Several other equities research analysts also recently commented on the company. UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. Barclays reduced their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Monday, January 6th. TD Cowen raised Textron to a “hold” rating in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. dropped their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Stock Performance

Shares of TXT stock opened at $77.22 on Thursday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. The company’s fifty day moving average price is $79.88 and its 200-day moving average price is $84.90. The stock has a market cap of $14.33 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. Textron has a 12 month low of $74.89 and a 12 month high of $97.33.

Textron (NYSE:TXT) last announced 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. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3,778,060 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. On average, equities analysts expect that Textron will post 6.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Textron

Institutional investors and hedge funds have recently made changes to their positions in the business. Blair William & Co. IL raised its holdings in Textron by 23.5% in the 2nd quarter. Blair William & Co. IL now owns 6,622 shares of the aerospace company’s stock worth $569,000 after purchasing an additional 1,258 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Textron by 4.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock valued at $353,000 after buying an additional 175 shares in the last quarter. Sei Investments Co. increased its holdings in Textron by 0.4% in the 2nd quarter. Sei Investments Co. now owns 109,810 shares of the aerospace company’s stock worth $9,428,000 after acquiring an additional 444 shares in the last quarter. ProShare Advisors LLC raised its stake in Textron by 1.5% during the 2nd quarter. ProShare Advisors LLC now owns 40,641 shares of the aerospace company’s stock worth $3,489,000 after acquiring an additional 600 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Textron by 58.9% during the second quarter. Public Sector Pension Investment Board now owns 7,094 shares of the aerospace company’s stock valued at $609,000 after purchasing an additional 2,629 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.