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

TD Cowen upgraded shares of Textron (NYSE:TXT) to a hold rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on TXT. Robert W. Baird lowered their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Barclays cut their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Monday, January 6th. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, Citigroup dropped their target price on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Trading Up 0.3 %

TXT opened at $72.56 on Monday. Textron has a twelve month low of $71.67 and a twelve month high of $97.33. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average of $76.03 and a 200-day moving average of $82.60. The stock has a market cap of $13.25 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. Textron’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, sell-side analysts predict that Textron will post 6.12 EPS for the current year.

Institutional Investors Weigh In On Textron

A number of large investors have recently modified their holdings of the stock. Invesco Ltd. boosted its position in Textron by 17.8% during the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock valued at $591,523,000 after acquiring an additional 1,167,105 shares in the last quarter. Boston Partners raised its holdings in Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares in the last quarter. Geode Capital Management LLC lifted its position in Textron by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock valued at $350,619,000 after buying an additional 164,964 shares during the period. Brandes Investment Partners LP grew its position in shares of Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock worth $142,249,000 after buying an additional 302,712 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Textron by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock worth $137,971,000 after acquiring an additional 155,384 shares in the last quarter. Institutional investors 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.