Morgan Stanley Lowers Textron (NYSE:TXT) Price Target to $71.00

Textron (NYSE:TXT) had its target price decreased by investment analysts at Morgan Stanley from $82.00 to $71.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s price objective points to a potential upside of 8.17% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the stock. Barclays lowered their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Monday, January 6th. TD Cowen upgraded Textron to a “hold” rating in a report on Monday, February 24th. Citigroup decreased their price objective on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a report on Thursday. Finally, Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.09.

Textron Stock Performance

Shares of Textron stock opened at $65.64 on Friday. The stock’s fifty day simple moving average is $71.70 and its 200 day simple moving average is $78.47. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $11.92 billion, a PE ratio of 15.23, a PEG ratio of 1.18 and a beta of 1.06. Textron has a 12 month low of $57.70 and a 12 month high of $95.86.

Textron (NYSE:TXT) last released 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 return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the firm posted $1.60 earnings per share. Textron’s revenue was down 7.2% compared to the same quarter last year. On average, research analysts predict that Textron will post 6.12 EPS for the current year.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Textron

A number of institutional investors and hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Textron during the fourth quarter worth approximately $31,000. Eastern Bank bought a new position in shares of Textron during the 4th quarter worth approximately $42,000. Optiver Holding B.V. bought a new stake in Textron in the 4th quarter valued at $56,000. Golden State Wealth Management LLC acquired a new stake in Textron during the 4th quarter valued at $63,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Textron by 123.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock worth $61,000 after purchasing an additional 465 shares during the period. 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.