Textron (NYSE:TXT) Upgraded by TD Cowen to Hold Rating

TD Cowen upgraded shares of Textron (NYSE:TXT) to a hold rating in a research report report published on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on the company. UBS Group lowered their price objective on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. Robert W. Baird dropped their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $101.56.

Textron Trading Up 1.4 %

Shares of TXT stock opened at $76.85 on Thursday. Textron has a fifty-two week low of $75.36 and a fifty-two week high of $97.33. The company has a 50 day moving average price of $84.12 and a 200 day moving average price of $86.44. The stock has a market capitalization of $14.26 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.49 EPS. Equities research analysts predict that Textron will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio is presently 1.76%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TXT. Innealta Capital LLC bought a new position in shares of Textron in the second quarter worth $25,000. True Wealth Design LLC acquired a new position in Textron during the 3rd quarter valued at about $26,000. Family Firm Inc. bought a new stake in shares of Textron during the 2nd quarter worth about $40,000. Capital Performance Advisors LLP acquired a new stake in shares of Textron in the 3rd quarter worth approximately $42,000. Finally, Truvestments Capital LLC bought a new position in shares of Textron in the third quarter valued at approximately $43,000. 86.03% of the stock is owned by institutional investors and hedge funds.

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.