Textron (NYSE:TXT) Rating Increased to Hold at TD Cowen

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

Several other brokerages also recently issued reports on TXT. Robert W. Baird cut their target price 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. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. UBS Group decreased 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. Finally, JPMorgan Chase & Co. dropped their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Textron has an average rating of “Moderate Buy” and an average target price of $101.56.

Textron Trading Up 1.4 %

Shares of NYSE TXT opened at $76.85 on Thursday. The business has a fifty day simple moving average of $84.34 and a 200-day simple moving average of $86.51. The company has a market cap of $14.26 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 1.46 and a beta of 1.25. Textron has a 12 month low of $75.36 and a 12 month 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.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. bought a new stake in Textron in the third quarter worth $828,000. Easterly Investment Partners LLC lifted its position in shares of Textron by 87.7% in the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after buying an additional 19,304 shares during the last quarter. KBC Group NV bought a new stake in shares of Textron during the 3rd quarter worth about $1,797,000. National Bank of Canada FI increased its holdings in shares of Textron by 161.8% during the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after acquiring an additional 89,724 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Textron by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock valued at $43,884,000 after acquiring an additional 57,967 shares in the last quarter. Institutional investors and hedge funds 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.