Cowen Reaffirms “Buy” Rating for Textron (NYSE:TXT)

Cowen reissued their buy rating on shares of Textron (NYSE:TXT) in a research note published on Thursday, AnalystRatings.com reports. Cowen currently has a $39.00 price target on the aerospace company’s stock.

Other analysts also recently issued research reports about the stock. Citigroup downgraded shares of Textron from a buy rating to a neutral rating and decreased their price target for the stock from $60.00 to $30.00 in a research report on Monday, April 20th. Alembic Global Advisors downgraded shares of Textron from an overweight rating to a neutral rating and set a $33.00 price target for the company. in a research report on Monday, April 13th. ValuEngine raised shares of Textron from a sell rating to a hold rating in a research report on Saturday, May 30th. Barclays raised their price target on shares of Textron from $26.00 to $37.00 and gave the stock an equal weight rating in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. downgraded shares of Textron from an overweight rating to a neutral rating and decreased their price target for the stock from $32.00 to $30.00 in a research report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $41.10.

Shares of NYSE:TXT opened at $34.94 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.98 and a debt-to-equity ratio of 0.53. Textron has a 52-week low of $20.26 and a 52-week high of $52.87. The company has a 50 day moving average of $33.35 and a two-hundred day moving average of $34.37. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 8.93 and a beta of 1.67.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 30th. The aerospace company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.28. Textron had a net margin of 3.01% and a return on equity of 10.60%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the company earned $0.93 earnings per share. The business’s quarterly revenue was down 23.4% compared to the same quarter last year. On average, equities analysts anticipate that Textron will post 1.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 11th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Thursday, September 10th. Textron’s dividend payout ratio is presently 2.14%.

A number of institutional investors have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. bought a new stake in Textron in the first quarter valued at $891,000. Morgan Stanley lifted its stake in Textron by 3.9% in the first quarter. Morgan Stanley now owns 486,416 shares of the aerospace company’s stock valued at $12,974,000 after buying an additional 18,170 shares during the last quarter. MML Investors Services LLC lifted its stake in Textron by 13.1% in the first quarter. MML Investors Services LLC now owns 10,925 shares of the aerospace company’s stock valued at $291,000 after buying an additional 1,263 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Textron by 4.5% in the first quarter. BNP Paribas Arbitrage SA now owns 91,509 shares of the aerospace company’s stock valued at $2,441,000 after buying an additional 3,979 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Textron in the first quarter valued at $43,000. 82.77% of the stock is owned by hedge funds and other institutional investors.

Textron Company Profile

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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