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

Textron (NYSE:TXT) had its price target dropped by analysts at Morgan Stanley from $86.00 to $82.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s price target points to a potential upside of 4.60% from the company’s current price.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. dropped 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. Robert W. Baird decreased their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. TD Cowen raised Textron to a “hold” rating in a research note on Thursday, December 19th. Finally, Barclays dropped their price target on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and a consensus target price of $95.73.

Textron Trading Down 3.5 %

Shares of TXT stock opened at $78.40 on Thursday. Textron has a 1 year low of $74.89 and a 1 year high of $97.33. The firm has a fifty day moving average price of $80.19 and a 200-day moving average price of $85.01. 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 company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82.

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. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3,778,060 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 earnings per share. As a group, equities analysts predict that Textron will post 5.42 earnings per share for the current year.

Hedge Funds Weigh In On Textron

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Empirical Finance LLC lifted its holdings in shares of Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after acquiring an additional 115 shares during the last quarter. Davis Investment Partners LLC raised its position in Textron by 0.8% during the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock valued at $1,290,000 after purchasing an additional 118 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after purchasing an additional 125 shares during the period. Pflug Koory LLC increased its position in shares of Textron by 0.9% during the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after purchasing an additional 125 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in Textron by 5.8% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after buying an additional 163 shares during the period. 86.03% of the stock is owned by hedge funds and other 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.