Textron (NYSE:TXT) PT Lowered to $100.00 at Robert W. Baird

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

A number of other equities analysts have also recently weighed in on the stock. Bank of America upped their price target on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. UBS Group increased their target price on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. TD Cowen cut Textron from a “buy” rating to a “hold” rating and lowered their price target for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. Citigroup lifted their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Stock Up 1.1 %

Shares of NYSE:TXT opened at $82.35 on Friday. Textron has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $87.70 and its 200-day simple moving average is $88.09. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.43 and a beta of 1.23.

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 $1.46 by ($0.06). Textron had a net margin of 6.67% and a return on equity of 16.41%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the business earned $1.49 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Textron will post 6.1 earnings per share for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio (DPR) is currently 1.69%.

Institutional Investors Weigh In On Textron

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners grew its holdings in shares of Textron by 1.4% during the 1st quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock worth $682,475,000 after purchasing an additional 99,868 shares during the period. LSV Asset Management grew its stake in Textron by 6.9% during the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after buying an additional 260,003 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after acquiring an additional 160,923 shares in the last quarter. Brandes Investment Partners LP raised its stake in shares of Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after acquiring an additional 258,778 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after purchasing an additional 231,173 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.