Robert W. Baird Lowers Textron (NYSE:TXT) Price Target to $100.00

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

A number of other analysts also recently weighed in on TXT. Citigroup increased 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. TD Cowen cut Textron from a “buy” rating to a “hold” rating and decreased their price target for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Bank of America boosted their price target on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Stock Performance

NYSE:TXT opened at $82.35 on Friday. The stock’s 50-day moving average is $87.70 and its 200-day moving average is $88.03. Textron has a 1-year low of $74.13 and a 1-year high of $97.33. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.43 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Textron (NYSE:TXT) last posted 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). Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts anticipate that Textron will post 6.1 earnings per share for the current year.

Institutional Investors Weigh In On Textron

A number of large investors have recently bought and sold shares of the stock. Wedge Capital Management L L P NC bought a new position in shares of Textron during the 2nd quarter worth about $64,319,000. Canada Pension Plan Investment Board grew its stake in Textron by 1,611.9% in the first quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock valued at $41,547,000 after acquiring an additional 407,800 shares during the period. LSV Asset Management increased its holdings in shares of Textron by 6.9% during the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after acquiring an additional 260,003 shares in the last quarter. Brandes Investment Partners LP raised its position in shares of Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after purchasing an additional 258,778 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Textron by 206.7% in the 1st quarter. BNP Paribas Financial Markets now owns 352,868 shares of the aerospace company’s stock worth $33,851,000 after purchasing an additional 237,817 shares in 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.