Textron (NYSE:TXT) Price Target Cut to $92.00 by Analysts at Robert W. Baird

Textron (NYSE:TXT) had its price target dropped by analysts at Robert W. Baird from $100.00 to $92.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the aerospace company’s stock. Robert W. Baird’s target price indicates a potential upside of 17.35% from the stock’s previous close.

Other analysts also recently issued reports about the company. Citigroup decreased their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday. Susquehanna decreased their price target on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. TD Cowen raised Textron to a “hold” rating in a research report on Thursday, December 19th. Barclays decreased their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, UBS Group decreased their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.73.

Textron Stock Performance

Shares of Textron stock opened at $78.40 on Thursday. The company has a market cap of $14.54 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.24 and a beta of 1.27. Textron has a 52 week low of $74.89 and a 52 week high of $97.33. The business has a 50 day moving average price of $80.19 and a 200-day moving average price of $85.01. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3,778,060 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. Textron’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. Equities analysts anticipate that Textron will post 5.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Textron

A number of large investors have recently made changes to their positions in TXT. True Wealth Design LLC bought a new stake in Textron during the third quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in Textron during the third quarter valued at $42,000. Eastern Bank bought a new stake in Textron during the fourth quarter valued at $42,000. Truvestments Capital LLC purchased a new stake in Textron during the third quarter valued at about $43,000. Finally, Venturi Wealth Management LLC raised its position in Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 232 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

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.