Textron (NYSE:TXT) Reaches New 12-Month Low – Time to Sell?

Textron Inc. (NYSE:TXT) shares reached a new 52-week low on Tuesday . The company traded as low as $75.00 and last traded at $75.58, with a volume of 1019312 shares traded. The stock had previously closed at $75.41.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TXT. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird cut their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Barclays cut their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, UBS Group lowered their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Textron Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.46 and a beta of 1.27. The business has a fifty day moving average price of $81.85 and a 200 day moving average price of $85.71.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company posted $1.49 EPS. As a group, equities analysts forecast that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is 1.76%.

Institutional Investors Weigh In On Textron

A number of large investors have recently modified their holdings of the stock. Central Pacific Bank Trust Division increased its stake in Textron by 4.3% during the 4th quarter. Central Pacific Bank Trust Division now owns 24,200 shares of the aerospace company’s stock worth $1,851,000 after buying an additional 1,000 shares during the period. Franklin Resources Inc. increased its position in shares of Textron by 10.3% during the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after acquiring an additional 15,294 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Textron in the third quarter worth about $122,000. M&T Bank Corp boosted its holdings in Textron by 2.3% in the third quarter. M&T Bank Corp now owns 17,101 shares of the aerospace company’s stock valued at $1,514,000 after purchasing an additional 382 shares during the last quarter. Finally, Groupama Asset Managment acquired a new stake in Textron during the 3rd quarter valued at approximately $742,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.