In a report issued on October 29, Cai Rumohr from Cowen & Co. assigned a Hold rating to Textron (TXT), with a price target of $38.00. The company’s shares closed last Wednesday at $46.13.
According to TipRanks.com, Rumohr is a 4-star analyst with an average return of 6.7% and a 59.8% success rate. Rumohr covers the Technology sector, focusing on stocks such as Smith & Wesson Brands, Raytheon Technologies, and Science Applications.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Textron with a $44.50 average price target, implying a -1.5% downside from current levels. In a report issued on October 30, Credit Suisse also maintained a Hold rating on the stock with a $40.00 price target.
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Based on Textron’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.74 billion and net profit of $115 million. In comparison, last year the company earned revenue of $3.26 billion and had a net profit of $220 million.
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Textron, Inc. is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance. The Textron Aviation segment manufactures sells, and services Beechcraft and Cessna aircraft. The Bell segment supplies military and commercial helicopters, tiltrotor aircraft, and related spare parts. The Textron Systems segment product lines consist of unmanned aircraft systems; land and marine systems; weapons and sensors; and a variety of defense and aviation mission support products and services. The Industrial segment designs and manufactures a variety of products under the Golf; Turf Care and Light Transportation Vehicles; Fuel Systems and Functional Components and Powered Tools; and Testing and Measurement Equipment product lines. The Finance segment consists of Textron Financial Corp. and its consolidated subsidiaries, which provides finances primarily to purchasers of new Cessna aircraft and Bell helicopters. The company founded by Royal Little in 1923 and is headquartered in Providence, RI.
