Textron Inc. (TXT) Price Target Raised to $47.00 at Morgan Stanley
Textron Inc. (NYSE:TXT) had its target price upped by analysts at Morgan Stanley from $45.00 to $47.00 in a note issued to investors on Thursday. The brokerage currently has an “underweight” rating on the aerospace company’s stock. Morgan Stanley’s price target would indicate a potential downside of 4.34% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Credit Suisse Group reissued a “buy” rating and set a $50.00 target price on shares of Textron in a research note on Wednesday, May 24th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 target price on shares of Textron in a research note on Thursday, May 18th. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, July 18th. BidaskClub raised shares of Textron from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Cowen and Company reissued an “outperform” rating and set a $60.00 target price on shares of Textron in a research note on Saturday, April 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.00.
Shares of Textron (TXT) traded down 2.06% during mid-day trading on Thursday, hitting $48.12. 877,936 shares of the stock traded hands. The stock has a market cap of $12.74 billion, a P/E ratio of 14.71 and a beta of 1.56. Textron has a 12-month low of $37.19 and a 12-month high of $50.93. The firm’s 50 day moving average price is $48.70 and its 200-day moving average price is $47.71.
Textron (NYSE:TXT) last released its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. Textron’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. Analysts predict that Textron will post $2.52 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its position in Textron by 5.2% in the fourth quarter. Macquarie Group Ltd. now owns 10,200 shares of the aerospace company’s stock valued at $496,000 after buying an additional 500 shares during the period. Bank of Montreal Can raised its position in Textron by 0.5% in the first quarter. Bank of Montreal Can now owns 132,775 shares of the aerospace company’s stock valued at $6,317,000 after buying an additional 644 shares during the period. Nisa Investment Advisors LLC raised its position in Textron by 21.1% in the first quarter. Nisa Investment Advisors LLC now owns 103,603 shares of the aerospace company’s stock valued at $4,930,000 after buying an additional 18,023 shares during the period. State of Alaska Department of Revenue acquired a new position in Textron during the first quarter valued at $220,000. Finally, Retirement Systems of Alabama raised its position in Textron by 2.2% in the first quarter. Retirement Systems of Alabama now owns 230,631 shares of the aerospace company’s stock valued at $10,976,000 after buying an additional 5,027 shares during the period. Institutional investors own 83.62% of the company’s stock.
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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