TD Cowen Upgrades Textron (NYSE:TXT) to Hold

Textron (NYSE:TXT) was upgraded by analysts at TD Cowen to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on TXT. Robert W. Baird reduced their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Barclays dropped their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Up 1.0 %

Shares of Textron stock opened at $73.25 on Monday. 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’s fifty day simple moving average is $75.89 and its two-hundred day simple moving average is $82.52. The company has a market cap of $13.37 billion, a P/E ratio of 16.99, a PEG ratio of 1.18 and a beta of 1.27. Textron has a 12-month low of $71.67 and a 12-month high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 EPS. Research analysts anticipate that Textron will post 6.12 EPS for the current year.

Institutional Investors Weigh In On Textron

Institutional investors have recently added to or reduced their stakes in the stock. Merit Financial Group LLC grew its holdings in Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock valued at $366,000 after buying an additional 265 shares in the last quarter. Empowered Funds LLC lifted its position in Textron by 28.6% in the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after buying an additional 4,480 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Textron by 44.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock worth $1,343,000 after purchasing an additional 5,367 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Textron by 79.5% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company’s stock worth $762,000 after purchasing an additional 4,409 shares during the last quarter. 86.03% of the stock is 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.