Robert W. Baird Has Lowered Expectations for Textron (NYSE:TXT) Stock Price

Textron (NYSE:TXT) had its price objective dropped by research analysts at Robert W. Baird from $100.00 to $92.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the aerospace company’s stock. Robert W. Baird’s target price indicates a potential upside of 19.14% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Susquehanna reduced their price target on shares of 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 report on Thursday, December 19th. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Citigroup dropped their price objective on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Down 1.3 %

TXT stock opened at $77.22 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $79.88 and a 200 day moving average of $84.90. Textron has a twelve month low of $74.89 and a twelve month high of $97.33. The firm has a market cap of $14.33 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3,778,060 billion. During the same quarter in the previous year, the firm earned $1.60 EPS. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, research analysts forecast that Textron will post 6.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TXT. Empirical Finance LLC increased its stake in shares of Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after purchasing an additional 115 shares in the last quarter. Davis Investment Partners LLC grew its holdings in Textron by 0.8% during the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock valued at $1,290,000 after purchasing an additional 118 shares during the period. Apollon Wealth Management LLC increased its position in Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after buying an additional 125 shares in the last quarter. Pflug Koory LLC raised its stake in shares of Textron by 0.9% in the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after buying an additional 125 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of Textron by 5.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after buying an additional 163 shares in the last quarter. 86.03% of the stock is currently 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.