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

Textron (NYSE:TXT) had its price target reduced by Morgan Stanley from $86.00 to $82.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

TXT has been the subject of a number of other reports. Robert W. Baird decreased their price target on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday. TD Cowen raised Textron to a “hold” rating in a research report on Thursday, December 19th. Barclays cut their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $95.73.

Textron Price Performance

Shares of NYSE:TXT opened at $78.33 on Thursday. Textron has a 1-year low of $74.89 and a 1-year high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. The stock has a market cap of $14.53 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. The stock’s fifty day simple moving average is $80.03 and its two-hundred day simple moving average is $84.96.

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 the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3,778,060 billion. During the same period in the previous year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts forecast that Textron will post 6.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Textron

Institutional investors have recently made changes to their positions in the stock. True Wealth Design LLC bought a new stake in shares of Textron during the 3rd quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in shares of Textron during the third quarter valued at about $42,000. Eastern Bank purchased a new stake in shares of Textron in the fourth quarter worth about $42,000. Truvestments Capital LLC bought a new position in shares of Textron in the third quarter valued at approximately $43,000. Finally, Venturi Wealth Management LLC grew its stake in Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after acquiring an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.