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

Textron (NYSE:TXT) had its target price cut by research analysts at Robert W. Baird from $109.00 to $100.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the aerospace company’s stock. Robert W. Baird’s price objective points to a potential upside of 22.71% from the company’s current price.

Other research analysts have also issued research reports about the stock. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Thursday, August 8th. Bank of America lifted their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, UBS Group lifted their price objective on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.44.

Textron Stock Performance

Shares of TXT opened at $81.49 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron has a twelve month low of $74.13 and a twelve month high of $97.33. The firm’s 50 day moving average price is $87.81 and its two-hundred day moving average price is $88.19. The firm has a market cap of $15.27 billion, a P/E ratio of 17.26, a PEG ratio of 1.43 and a beta of 1.23.

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

Hedge Funds Weigh In On Textron

Several institutional investors and hedge funds have recently modified their holdings of TXT. Wedge Capital Management L L P NC acquired a new position in shares of Textron in the second quarter valued at $64,319,000. Canada Pension Plan Investment Board increased its holdings in shares of 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 purchasing an additional 407,800 shares during the last quarter. LSV Asset Management increased its holdings in shares of Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after purchasing an additional 260,003 shares during the last quarter. Brandes Investment Partners LP increased its holdings in shares of Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after purchasing an additional 258,778 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Textron by 206.7% in the first quarter. BNP Paribas Financial Markets now owns 352,868 shares of the aerospace company’s stock valued at $33,851,000 after purchasing an additional 237,817 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.