Textron Inc. (TXT) Earns “Buy” Rating from Cowen and Company
Textron Inc. (NYSE:TXT)‘s stock had its “buy” rating restated by Cowen and Company in a research note issued on Tuesday. They currently have a $60.00 price target on the aerospace company’s stock. Cowen and Company’s price target points to a potential upside of 11.73% from the company’s current price.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Textron in a research note on Friday, October 20th. Credit Suisse Group lowered their target price on shares of Textron from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Friday, October 20th. Wells Fargo & Company lifted their target price on shares of Textron from $54.00 to $59.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Finally, Citigroup Inc. lifted their target price on shares of Textron from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Textron has an average rating of “Hold” and a consensus target price of $56.92.
Shares of Textron (NYSE TXT) traded down $0.57 on Tuesday, reaching $53.70. 1,875,000 shares of the company’s stock traded hands, compared to its average volume of 1,566,505. Textron has a 52 week low of $43.66 and a 52 week high of $55.80. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.96 and a current ratio of 2.08. The firm has a market cap of $14,295.83, a PE ratio of 21.62, a PEG ratio of 2.49 and a beta of 1.58.
Textron (NYSE:TXT) last announced its earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Textron had a net margin of 4.48% and a return on equity of 12.02%. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. sell-side analysts predict that Textron will post 2.47 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of TXT. Invictus RG purchased a new stake in Textron in the 3rd quarter valued at about $115,000. Bessemer Group Inc. raised its holdings in Textron by 66.7% in the 2nd quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after buying an additional 1,043 shares during the period. Global X Management Co. LLC raised its holdings in Textron by 16.5% in the 2nd quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after buying an additional 433 shares during the period. Parkside Financial Bank & Trust raised its holdings in Textron by 0.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after buying an additional 26 shares during the period. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in Textron in the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors own 81.49% of the company’s stock.
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.
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