"Soon, Marine and Navy units won't be mission ready due to sequestration."
I bet the special interest groups have already exited their defense contractor stocks and are now net short, this explains why management hasn't spent the capital necessary to reposition the company towards serving the general public, why not let a new batch of suckers pay for retooling?
"$17 is my INITIAL downside target" ... soooo, you think TXT is a "company in DECLINE" warranting a PE of under 8X ... fine ... I would appreciate your squaring your opinion this with: topline growth of 9%, bottom line growth of 44%, operating cash flow of $958MM for mfg group which is $41/sh when capitalized at 8% ... etc ...
Take it from someone who has a lot of short selling experience, the time to short was at $31, not now. I have made money shorting and lost my shirt shorting. Short here and you are sure to lose your shirt. MACD has turned the corner towards positive and after testing huge technical support of 24.99 probably today, its headed higher. All the bad news already reflected in the price and then some, thanks to JPM downgrading at $31 and probably loading it up here, saying its a good value in 25-26 range. Go against a big house like JPM and guess who loses.