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

Textron (NYSE:TXT - Free Report) had its target price trimmed by Morgan Stanley from $86.00 to $82.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the aerospace company's stock.

A number of other equities research analysts also recently commented on the stock. Susquehanna dropped their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Citigroup dropped their target price on shares of Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday. 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 research report on Thursday, January 16th. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.73.

Textron Stock Down 0.1 %

Shares of NYSE:TXT traded down $0.08 during trading hours on Thursday, reaching $78.33. The stock had a trading volume of 1,253,928 shares, compared to its average volume of 1,377,708. Textron has a 1 year low of $74.89 and a 1 year high of $97.33. The firm's 50 day moving average is $80.19 and its 200-day moving average is $85.01. 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 stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 1.24 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3,778,060 billion. During the same period in the prior year, the firm posted $1.60 EPS. The company's quarterly revenue was down 7.2% compared to the same quarter last year. Research analysts predict that Textron will post 5.42 earnings per share for the current fiscal year.

Institutional Trading of Textron

Several hedge funds have recently made changes to their positions in TXT. Brandes Investment Partners LP lifted its stake in shares of Textron by 20.0% in the 2nd 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 during the period. AQR Capital Management LLC lifted its stake in shares of Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company's stock worth $124,608,000 after acquiring an additional 231,173 shares during the period. Susquehanna Fundamental Investments LLC lifted its stake in shares of Textron by 1,839.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 162,955 shares of the aerospace company's stock worth $13,991,000 after acquiring an additional 154,555 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Textron in the 4th quarter worth $11,523,000. Finally, National Bank of Canada FI lifted its stake in shares of Textron by 161.8% in the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company's stock worth $12,860,000 after acquiring an additional 89,724 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.