Cowen Reaffirms Buy Rating for Textron (NYSE:TXT)

Textron (NYSE:TXT)‘s stock had its “buy” rating restated by stock analysts at Cowen in a research note issued to investors on Tuesday, November 14th. They currently have a $60.00 price objective on the aerospace company’s stock. Cowen’s target price would indicate a potential upside of 9.31% from the company’s previous close.

A number of other research firms have also recently commented on TXT. ValuEngine cut Textron from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Jefferies Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Textron in a report on Friday, October 20th. Stephens reaffirmed an “equal weight” rating and issued a $63.00 target price (up from $54.00) on shares of Textron in a report on Friday, October 13th. Finally, Citigroup lifted their target price on Textron from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $56.92.

Textron (NYSE TXT) traded down $0.82 during trading hours on Tuesday, reaching $54.89. The company’s stock had a trading volume of 1,451,405 shares, compared to its average volume of 1,126,497. The company has a current ratio of 2.08, a quick ratio of 0.96 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $14,459.12, a PE ratio of 21.87, a PEG ratio of 2.52 and a beta of 1.57. Textron has a twelve month low of $43.66 and a twelve month high of $55.83.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. research analysts forecast that Textron will post 2.47 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of TXT. Neuberger Berman Group LLC increased its stake in Textron by 28.4% during the second quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock worth $203,650,000 after acquiring an additional 957,464 shares during the last quarter. Victory Capital Management Inc. increased its stake in Textron by 27.3% during the second quarter. Victory Capital Management Inc. now owns 3,727,749 shares of the aerospace company’s stock worth $175,577,000 after acquiring an additional 799,779 shares during the last quarter. BlackRock Inc. increased its stake in Textron by 3.8% during the second quarter. BlackRock Inc. now owns 17,799,799 shares of the aerospace company’s stock worth $838,370,000 after acquiring an additional 655,034 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in Textron by 1,002.8% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 512,913 shares of the aerospace company’s stock worth $27,634,000 after acquiring an additional 466,402 shares during the last quarter. Finally, Impala Asset Management LLC bought a new stake in Textron during the third quarter worth approximately $21,215,000. 82.04% of the stock is currently owned by institutional investors.

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Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

Analyst Recommendations for Textron (NYSE:TXT)

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