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

Textron (NYSE:TXT) had its target price trimmed by Robert W. Baird from $109.00 to $100.00 in a research report released on Friday, Benzinga reports. The firm currently has an outperform rating on the aerospace company’s stock.

TXT has been the topic of several other reports. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and reduced their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. UBS Group lifted their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. Citigroup boosted their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. Finally, StockNews.com lowered shares of 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 six have assigned a buy rating to the stock. Based on data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Price Performance

TXT opened at $82.35 on Friday. The firm has a market capitalization of $15.70 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The business’s 50-day moving average is $87.70 and its two-hundred day moving average is $87.98. Textron has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81.

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

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s payout ratio is 1.71%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Textron during the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Textron in the second quarter worth about $30,000. Oakworth Capital Inc. purchased a new stake in shares of Textron during the 2nd quarter worth about $31,000. Family Firm Inc. acquired a new stake in shares of Textron during the 2nd quarter valued at about $40,000. Finally, Truvestments Capital LLC purchased a new position in shares of Textron in the 1st quarter valued at about $48,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

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.