Textron (NYSE:TXT) Price Target Lowered to $95.00 at Barclays

Textron (NYSE:TXT) had its price objective reduced by stock analysts at Barclays from $104.00 to $95.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the aerospace company’s stock. Barclays‘s price objective suggests a potential upside of 22.99% from the company’s previous close.

TXT has been the subject of a number of other reports. Robert W. Baird decreased their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. 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 note on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, TD Cowen raised shares of Textron to a “hold” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.90.

Textron Stock Performance

Shares of Textron stock opened at $77.24 on Monday. The business has a 50-day simple moving average of $83.67 and a 200-day simple moving average of $86.31. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. Textron has a one year low of $75.36 and a one year high of $97.33. The company has a market cap of $14.33 billion, a PE ratio of 16.98, a P/E/G ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. On average, equities research analysts forecast that Textron will post 5.52 EPS for the current fiscal year.

Institutional Trading of Textron

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXT. Innealta Capital LLC acquired a new position in shares of Textron in the second quarter valued at approximately $25,000. True Wealth Design LLC purchased a new position in Textron in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP acquired a new position in Textron in the 3rd quarter valued at $42,000. Truvestments Capital LLC purchased a new position in Textron during the 3rd quarter worth $43,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Textron by 69.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 232 shares during the period. 86.03% of the stock is 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.