Morgan Stanley Cuts Textron (NYSE:TXT) Price Target to $82.00

Textron (NYSE:TXT) had its target price decreased by Morgan Stanley from $86.00 to $82.00 in a research note released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the aerospace company’s stock.

A number of other equities analysts have also recently issued reports on TXT. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Monday, January 6th. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Thursday, December 19th. Citigroup lowered their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday. Robert W. Baird reduced their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, UBS Group decreased 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.73.

Textron Stock Down 0.1 %

TXT stock opened at $78.33 on Thursday. The company’s 50 day moving average is $80.03 and its 200 day moving average is $84.96. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. Textron has a 1-year low of $74.89 and a 1-year high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3,778,060 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Textron will post 6.15 EPS for the current fiscal year.

Institutional Trading of Textron

Large investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. lifted its holdings in 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 worth $39,145,000 after buying an additional 16,359 shares during the period. Patriot Financial Group Insurance Agency LLC lifted 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 worth $228,000 after acquiring an additional 163 shares during the period. Foundations Investment Advisors LLC boosted its holdings in Textron by 4.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,272 shares of the aerospace company’s stock valued at $327,000 after acquiring an additional 169 shares in the last quarter. Pacer Advisors Inc. increased its position in Textron by 19.3% during the 4th quarter. Pacer Advisors Inc. now owns 16,555 shares of the aerospace company’s stock valued at $1,266,000 after purchasing an additional 2,679 shares during the period. Finally, Blue Trust Inc. raised its holdings in Textron by 36.1% in the 4th quarter. Blue Trust Inc. now owns 2,606 shares of the aerospace company’s stock worth $199,000 after purchasing an additional 691 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

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.