Textron (NYSE:TXT) Price Target Cut to $100.00

Textron (NYSE:TXT) had its price target lowered by research analysts at Robert W. Baird from $109.00 to $100.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the aerospace company’s stock. Robert W. Baird’s price target indicates a potential upside of 21.43% from the company’s current price.

A number of other brokerages have also weighed in on TXT. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup upped their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. dropped their target price on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. UBS Group upped their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. Finally, TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Trading Up 1.1 %

TXT stock opened at $82.35 on Friday. Textron has a one year low of $74.13 and a one year high of $97.33. The stock has a market cap of $15.43 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The company has a fifty day moving average price of $87.70 and a two-hundred day moving average price of $88.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.06). The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 EPS. Equities analysts anticipate that Textron will post 6.1 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Textron in the 2nd quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Textron in the second quarter valued at about $30,000. Oakworth Capital Inc. acquired a new position in Textron during the second quarter worth about $31,000. Family Firm Inc. bought a new position in shares of Textron in the second quarter worth about $40,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Textron in the 1st quarter valued at approximately $48,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.