Textron (NYSE:TXT) Rating Reiterated by Cowen

Cowen reiterated their buy rating on shares of Textron (NYSE:TXT) in a research note released on Tuesday morning, AnalystRatings.com reports. Cowen currently has a $53.00 price objective on the aerospace company’s stock.

Other research analysts have also issued research reports about the stock. Robert W. Baird lowered their price objective on shares of Textron from $64.00 to $58.00 and set an outperform rating for the company in a research note on Friday, October 18th. Bank of America lowered shares of Textron from a buy rating to a neutral rating in a research note on Tuesday, October 22nd. Zacks Investment Research lowered shares of Textron from a hold rating to a strong sell rating and set a $50.00 price objective for the company. in a research note on Friday, October 25th. Barclays reissued a buy rating and issued a $57.00 price objective on shares of Textron in a research note on Thursday, December 12th. Finally, TheStreet lowered shares of Textron from a b- rating to a c+ rating in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $53.13.

Shares of TXT opened at $48.08 on Tuesday. Textron has a 1-year low of $42.30 and a 1-year high of $58.00. The stock has a market cap of $11.52 billion, a PE ratio of 13.70, a P/E/G ratio of 1.48 and a beta of 1.72. The firm has a 50-day simple moving average of $46.24 and a two-hundred day simple moving average of $46.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.84 and a quick ratio of 0.78.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. Textron had a net margin of 5.98% and a return on equity of 16.16%. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period last year, the business earned $1.15 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Textron will post 3.57 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cerebellum GP LLC bought a new stake in shares of Textron during the third quarter valued at approximately $133,000. Pacer Advisors Inc. increased its position in shares of Textron by 10.2% during the third quarter. Pacer Advisors Inc. now owns 25,249 shares of the aerospace company’s stock valued at $1,236,000 after acquiring an additional 2,338 shares in the last quarter. NuWave Investment Management LLC increased its position in shares of Textron by 4,267.5% during the third quarter. NuWave Investment Management LLC now owns 3,494 shares of the aerospace company’s stock valued at $171,000 after acquiring an additional 3,414 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Textron by 8.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,340 shares of the aerospace company’s stock valued at $702,000 after acquiring an additional 1,164 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Textron during the third quarter valued at approximately $228,000. 84.43% of the stock is owned by institutional investors and hedge funds.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Analyst Recommendations for Textron (NYSE:TXT)

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