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 Thursday,Zacks.com reports.

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

Textron Stock Up 1.4 %

TXT stock opened at $76.85 on Thursday. The firm has a market cap of $14.26 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 1.46 and a beta of 1.25. Textron has a 1-year low of $75.36 and a 1-year high of $97.33. The firm has a fifty day moving average price of $84.34 and a two-hundred day moving average price of $86.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82.

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

Hedge Funds Weigh In On Textron

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