Morgan Stanley Issues Pessimistic Forecast for Textron (NYSE:TXT) Stock Price

Textron (NYSE:TXT) had its target price decreased by investment analysts at Morgan Stanley from $86.00 to $82.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s price target suggests a potential upside of 6.19% from the stock’s current price.

Several other research analysts have also recently weighed in on the company. Barclays reduced their price target on Textron from $104.00 to $95.00 and set an “overweight” rating for the company 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 report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target 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. UBS Group cut their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. Finally, Robert W. Baird lowered their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Stock Down 1.3 %

TXT stock opened at $77.22 on Thursday. The company has a market capitalization of $14.33 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.27. Textron has a 12 month low of $74.89 and a 12 month high of $97.33. The firm’s fifty day simple moving average is $79.88 and its 200-day simple moving average is $84.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3,778,060 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 earnings per share. As a group, equities research analysts forecast that Textron will post 6.15 earnings per share for the current year.

Institutional Investors Weigh In On Textron

Several large investors have recently bought and sold shares of the company. True Wealth Design LLC purchased a new position in shares of Textron in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new position in Textron in the 3rd quarter valued at $42,000. Eastern Bank acquired a new stake in Textron during the 4th quarter worth $42,000. Truvestments Capital LLC purchased a new stake in shares of Textron during the third quarter worth $43,000. Finally, Venturi Wealth Management LLC raised its position in shares of 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 buying an additional 232 shares during the last quarter. 86.03% of the stock is currently 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.