Textron (NYSE:TXT) Given New $82.00 Price Target at Morgan Stanley

Textron (NYSE:TXT) had its target price cut by equities researchers at Morgan Stanley from $86.00 to $82.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s price target would suggest a potential upside of 4.60% from the stock’s previous close.

A number of other equities analysts also recently commented on TXT. UBS Group reduced their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a report on Monday, January 6th. Susquehanna lowered their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Citigroup cut their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.73.

Textron Trading Down 3.5 %

Shares of NYSE TXT opened at $78.40 on Thursday. Textron has a fifty-two week low of $74.89 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.24 and a beta of 1.27. The business’s 50 day moving average price is $80.19 and its 200-day moving average price is $85.01.

Textron (NYSE:TXT) last released its 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. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3,778,060 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. On average, sell-side analysts expect that Textron will post 5.42 earnings per share for the current year.

Institutional Trading of Textron

A number of institutional investors have recently made changes to their positions in TXT. Brandes Investment Partners LP boosted its holdings in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after acquiring an additional 258,778 shares in the last quarter. AQR Capital Management LLC grew its position in Textron by 18.9% during the 2nd 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 during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Textron by 3.3% during 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 purchasing an additional 16,359 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Textron by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company’s stock worth $41,725,000 after buying an additional 4,327 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Textron by 18.0% during the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock worth $35,563,000 after buying an additional 61,248 shares during the period. Institutional investors and hedge funds 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.