Cowen and Company Reaffirms “Buy” Rating for Textron Inc. (TXT)
Cowen and Company reissued their buy rating on shares of Textron Inc. (NYSE:TXT) in a research note published on Tuesday morning. They currently have a $60.00 target price on the aerospace company’s stock.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Textron from a hold rating to a buy rating and set a $55.00 price objective for the company in a research report on Tuesday, July 18th. Drexel Hamilton upgraded shares of Textron from a hold rating to a buy rating and set a $58.00 price objective for the company in a research report on Monday, September 11th. ValuEngine upgraded shares of Textron from a hold rating to a buy rating in a research report on Friday, September 8th. Credit Suisse Group restated an outperform rating and issued a $55.00 price target (up from $50.00) on shares of Textron in a research report on Thursday, July 20th. Finally, Bank of America Corporation cut shares of Textron from a buy rating to an underperform rating and decreased their price target for the company from $53.00 to $45.00 in a research report on Friday, July 21st. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Textron has a consensus rating of Hold and an average target price of $56.92.
Textron (NYSE TXT) traded up $0.43 during midday trading on Tuesday, reaching $52.90. 1,631,200 shares of the company’s stock were exchanged, compared to its average volume of 1,562,785. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67. The company has a market cap of $14,070.00, a P/E ratio of 20.90, a P/E/G ratio of 2.41 and a beta of 1.57. Textron has a 52-week low of $43.66 and a 52-week high of $55.80.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, December 14th. Textron’s dividend payout ratio (DPR) is presently 3.45%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Invictus RG acquired a new stake in shares of Textron during the third quarter worth $115,000. Bessemer Group Inc. boosted its stake in Textron by 66.7% during the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock worth $123,000 after acquiring an additional 1,043 shares in the last quarter. Global X Management Co. LLC boosted its stake in Textron by 16.5% during the second quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock worth $144,000 after acquiring an additional 433 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Textron by 0.8% during the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 26 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in Textron during the third quarter worth $201,000. Institutional investors own 81.49% of the company’s stock.
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.
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