Textron (NYSE:TXT) Stock Rating Upgraded by TD Cowen

Textron (NYSE:TXT) was upgraded by equities researchers at TD Cowen to a “hold” rating in a report issued on Thursday,Zacks.com reports.

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

Textron Price Performance

Shares of NYSE TXT opened at $75.82 on Thursday. Textron has a 52 week low of $75.76 and a 52 week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market cap of $14.07 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.46 and a beta of 1.25. The business’s 50 day moving average price is $84.34 and its 200 day moving average price is $86.51.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) 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 analysts’ expectations of $3.50 billion. During the same period last year, the business earned $1.49 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that Textron will post 5.52 earnings per share for the current year.

Institutional Investors Weigh In On Textron

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

About Textron

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.