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

Textron (NYSE:TXT) had its target price reduced by stock analysts at Barclays from $104.00 to $95.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the aerospace company’s stock. Barclays‘s price objective points to a potential upside of 23.62% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. UBS Group dropped their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Robert W. Baird cut their price target on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. TD Cowen upgraded Textron to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. cut their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $100.90.

Textron Trading Up 1.4 %

NYSE:TXT opened at $76.85 on Monday. The stock has a fifty day moving average price of $84.12 and a 200 day moving average price of $86.43. 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 firm has a market cap of $14.26 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of Textron during the second quarter worth about $25,000. True Wealth Design LLC purchased a new position in shares of Textron in the 3rd 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 shares of Textron during the third quarter worth approximately $43,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after purchasing an additional 232 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.