Textron (NYSE:TXT) Stock Price Target Raised at Morgan Stanley

Textron (NYSE:TXT) had its target price increased by stock analysts at Morgan Stanley from $86.00 to $95.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley‘s price target would indicate a potential upside of 8.03% from the company’s current price.

A number of other analysts have also weighed in on TXT. Wall Street Zen lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group upped their price target on shares of Textron from $86.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday. Citigroup reduced their price target on shares of Textron from $99.00 to $86.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 7th. Weiss Ratings lowered shares of Textron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 27th. Finally, TD Cowen lowered their price objective on shares of Textron from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.00.

Textron Stock Performance

TXT traded up $2.23 during midday trading on Monday, hitting $87.94. 485,555 shares of the company traded hands, compared to its average volume of 1,645,083. The firm has a market capitalization of $14.90 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88. Textron has a 52 week low of $71.87 and a 52 week high of $101.57. The company’s 50-day moving average is $78.57 and its 200 day moving average is $88.32. The company has a quick ratio of 0.82, a current ratio of 1.80 and a debt-to-equity ratio of 0.42.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 29th. The aerospace company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.43 by $0.33. The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.77 billion. Textron had a net margin of 6.30% and a return on equity of 14.34%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $1.55 EPS. On average, research analysts expect that Textron will post 6.60 EPS for the current year.

Hedge Funds Weigh In On Textron

Large investors have recently bought and sold shares of the business. Verity Asset Management Inc. boosted its position in Textron by 2.4% during the 3rd quarter. Verity Asset Management Inc. now owns 21,681 shares of the aerospace company’s stock valued at $1,652,000 after acquiring an additional 504 shares in the last quarter. Rakuten Investment Management Inc. raised its position in shares of Textron by 8.9% in the 3rd quarter. Rakuten Investment Management Inc. now owns 30,993 shares of the aerospace company’s stock worth $2,406,000 after acquiring an additional 2,540 shares in the last quarter. Putney Financial Group LLC bought a new position in shares of Textron in the 3rd quarter worth $61,000. Garner Asset Management Corp lifted its stake in shares of Textron by 16.1% during the 3rd quarter. Garner Asset Management Corp now owns 4,819 shares of the aerospace company’s stock worth $376,000 after purchasing an additional 668 shares during the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC lifted its stake in shares of Textron by 0.9% during the 3rd quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 93,751 shares of the aerospace company’s stock worth $7,144,000 after purchasing an additional 845 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

About Textron

Textron Inc (NYSE:TXT) is a diversified industrial company that develops and manufactures aircraft, helicopters, specialized vehicles, defense systems and other industrial products. Founded in 1923 by Royal Little, the company has grown through the development and acquisition of businesses serving commercial, government and consumer markets.

Textron Aviation produces business jets, turboprop aircraft and general aviation aircraft under the Cessna and Beechcraft brands. Bell designs and manufactures military and commercial helicopters, tiltrotor aircraft and related support services.