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

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

Other equities research analysts have also issued reports about the company. Robert W. Baird reduced their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday. Barclays dropped their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Susquehanna cut their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, UBS Group lowered their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Down 1.3 %

Shares of TXT opened at $77.22 on Thursday. The firm has a market cap of $14.33 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. The company’s fifty day moving average is $79.88 and its two-hundred day moving average is $84.90. Textron has a fifty-two week low of $74.89 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) 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 company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3,778,060 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. Textron’s revenue for the quarter was down 7.2% on a year-over-year basis. Analysts forecast that Textron will post 6.15 earnings per share for the current year.

Hedge Funds Weigh In On Textron

Institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC bought a new position in shares of Textron during the third quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in Textron in the 3rd quarter valued at $42,000. Eastern Bank bought a new stake in shares of Textron during the 4th quarter valued at $42,000. Truvestments Capital LLC bought a new position in shares of Textron in the third quarter worth $43,000. Finally, Venturi Wealth Management LLC raised its stake in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after purchasing an additional 232 shares in the last quarter. 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.