Textron (NYSE:TXT) Upgraded to "Hold" at TD Cowen

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

Several other equities research analysts have also weighed in on TXT. Barclays cut their target price on shares of Textron from $104.00 to $95.00 and set an "overweight" rating on the stock in a report on Monday, December 23rd. Susquehanna dropped their price objective on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. reduced their target price on Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Finally, Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Trading Up 0.3 %

TXT opened at $72.56 on Monday. The firm has a 50 day simple moving average of $76.03 and a 200 day simple moving average of $82.60. Textron has a fifty-two week low of $71.67 and a fifty-two week high of $97.33. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The business's revenue for the quarter was down 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Textron will post 6.12 earnings per share for the current year.

Institutional Investors Weigh In On Textron

Several institutional investors have recently bought and sold shares of TXT. Private Advisor Group LLC boosted its stake in shares of Textron by 10.2% during the 3rd quarter. Private Advisor Group LLC now owns 15,948 shares of the aerospace company's stock worth $1,413,000 after buying an additional 1,481 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Textron by 31.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,023 shares of the aerospace company's stock worth $1,055,000 after acquiring an additional 2,867 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Textron by 37.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 24,620 shares of the aerospace company's stock worth $2,181,000 after purchasing an additional 6,766 shares during the period. abrdn plc grew its holdings in Textron by 2.9% in the 3rd quarter. abrdn plc now owns 73,417 shares of the aerospace company's stock valued at $6,431,000 after buying an additional 2,075 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Textron by 0.8% in the 3rd quarter. US Bancorp DE now owns 25,256 shares of the aerospace company's stock valued at $2,237,000 after buying an additional 192 shares in the last quarter. Institutional investors 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.

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