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

Textron (NYSE:TXT) was upgraded by stock analysts at TD Cowen to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on TXT. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley reduced their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Vertical Research raised 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. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Trading Up 0.3 %

Shares of NYSE TXT opened at $72.56 on Monday. The stock has a market cap of $13.25 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. Textron has a 52-week low of $71.67 and a 52-week high of $97.33. The firm has a 50 day moving average price of $76.03 and a two-hundred day moving average price of $82.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 EPS. As a group, equities analysts forecast that Textron will post 6.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp raised its stake in Textron by 14.2% in the 4th quarter. Mackenzie Financial Corp now owns 210,081 shares of the aerospace company’s stock valued at $16,069,000 after acquiring an additional 26,185 shares during the period. Toronto Dominion Bank increased its stake in shares of Textron by 7.0% in the fourth quarter. Toronto Dominion Bank now owns 99,507 shares of the aerospace company’s stock worth $7,611,000 after purchasing an additional 6,509 shares in the last quarter. Vise Technologies Inc. raised its position in shares of Textron by 66.7% in the fourth quarter. Vise Technologies Inc. now owns 5,521 shares of the aerospace company’s stock valued at $422,000 after purchasing an additional 2,209 shares during the period. Blue Fin Capital Inc. lifted its stake in shares of Textron by 23.9% during the 4th quarter. Blue Fin Capital Inc. now owns 5,190 shares of the aerospace company’s stock valued at $397,000 after buying an additional 1,002 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Textron by 35.0% in the 4th quarter. Voloridge Investment Management LLC now owns 980,374 shares of the aerospace company’s stock worth $74,989,000 after buying an additional 254,379 shares during the period. 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.