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

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

A number of other brokerages also recently commented on TXT. Barclays dropped their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. 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 note on Thursday, January 16th. Susquehanna decreased 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 dropped their price target on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, TD Cowen upgraded 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 eight have assigned a buy rating to the stock. According to data from MarketBeat, Textron currently has an average rating of “Moderate Buy” and a consensus target price of $95.73.

Textron Trading Down 0.1 %

TXT opened at $78.33 on Thursday. Textron has a one year low of $74.89 and a one year high of $97.33. 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 has a market cap of $14.53 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.27 and a beta of 1.27. The stock’s 50 day moving average price is $80.03 and its 200-day moving average price is $84.96.

Textron (NYSE:TXT) last released its earnings results 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 14.92% and a net margin of 6.01%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. On average, equities analysts forecast that Textron will post 6.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. lifted its position in Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after acquiring an additional 15,294 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Textron during the 4th quarter valued at $11,523,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Textron in the 3rd quarter worth $828,000. Easterly Investment Partners LLC grew its stake in Textron by 87.7% during the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after buying an additional 19,304 shares during the last quarter. Finally, KBC Group NV acquired a new position in Textron during the 3rd quarter valued at about $1,797,000. 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.