Textron (NYSE:TXT) Raised to Hold at TD Cowen

Textron (NYSE:TXT - Get Free Report) was upgraded by TD Cowen to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

TXT has been the topic of a number of other reports. Robert W. Baird reduced their price target on Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a research report 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 lowered their price target on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $101.56.

Textron Stock Up 1.4 %

Shares of TXT traded up $1.03 during trading hours on Thursday, hitting $76.85. The company had a trading volume of 3,646,143 shares, compared to its average volume of 1,096,663. Textron has a one year low of $75.36 and a one year high of $97.33. The company's fifty day moving average price is $84.34 and its two-hundred day moving average price is $86.51. The company has a market capitalization of $14.26 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same period in the previous year, the company posted $1.49 earnings per share. The business's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Textron will post 5.52 earnings per share for the current fiscal year.

Institutional Trading of Textron

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Textron in the second quarter valued at $25,000. True Wealth Design LLC acquired a new stake in Textron during the third quarter worth about $26,000. Family Firm Inc. purchased a new position in Textron during the second quarter valued at approximately $40,000. Capital Performance Advisors LLP acquired a new position in Textron in the third quarter valued at approximately $42,000. Finally, Truvestments Capital LLC purchased a new stake in Textron in the 3rd quarter worth approximately $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.