Textron (NYSE:TXT) Upgraded at TD Cowen

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

Several other research analysts have also recently issued reports on the stock. Susquehanna reduced their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Citigroup reduced their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Vertical Research raised shares of 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. JPMorgan Chase & Co. cut their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and cut their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. One 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 data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Textron Trading Up 1.0 %

NYSE:TXT opened at $73.25 on Monday. Textron has a 12 month low of $71.67 and a 12 month high of $97.33. The firm has a fifty day simple moving average of $75.89 and a 200-day simple moving average of $82.52. 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 $13.37 billion, a P/E ratio of 16.99, a PEG ratio of 1.18 and a beta of 1.27.

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

Institutional Trading of Textron

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Empirical Finance LLC increased its stake in shares of Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after purchasing an additional 115 shares in the last quarter. Apollon Wealth Management LLC increased its stake in shares of Textron by 4.9% during the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after purchasing an additional 125 shares in the last quarter. Pflug Koory LLC increased its stake in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after purchasing an additional 125 shares in the last quarter. V Square Quantitative Management LLC increased its stake in shares of Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after purchasing an additional 141 shares in the last quarter. Finally, Syon Capital LLC increased its stake in shares of Textron by 4.5% during the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock worth $271,000 after purchasing an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.