Textron (NYSE:TXT) Price Target Cut to $82.00 by Analysts at Morgan Stanley

Textron (NYSE:TXT) had its price target decreased by research analysts at Morgan Stanley from $86.00 to $82.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s target price would indicate a potential upside of 6.19% from the company’s previous close.

A number of other brokerages have also recently commented on TXT. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Monday, January 6th. UBS Group lowered their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Susquehanna cut their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Citigroup dropped their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Performance

Textron stock opened at $77.22 on Thursday. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. Textron has a 1-year low of $74.89 and a 1-year high of $97.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82. The firm has a 50 day simple moving average of $79.88 and a 200-day simple moving average of $84.90.

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

Institutional Trading of Textron

A number of institutional investors have recently bought and sold shares of TXT. Robeco Institutional Asset Management B.V. increased its holdings in shares of Textron by 3.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock valued at $39,145,000 after acquiring an additional 16,359 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after purchasing an additional 163 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in Textron by 4.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock worth $327,000 after purchasing an additional 169 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Textron by 19.3% during the 4th quarter. Pacer Advisors Inc. now owns 16,555 shares of the aerospace company’s stock worth $1,266,000 after buying an additional 2,679 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Textron by 36.1% in the 4th quarter. Blue Trust Inc. now owns 2,606 shares of the aerospace company’s stock valued at $199,000 after buying an additional 691 shares in the last quarter. 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.