Textron (NYSE:TXT) Hits New 52-Week Low – Time to Sell?

Textron Inc. (NYSE:TXT)’s share price hit a new 52-week low on Monday . The stock traded as low as $73.92 and last traded at $74.65, with a volume of 62121 shares. The stock had previously closed at $74.52.

Analysts Set New Price Targets

Several brokerages have issued reports on TXT. Bank of America cut Textron from a “buy” rating to a “neutral” rating and dropped their target price for the company from $110.00 to $85.00 in a report on Friday, January 24th. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Thursday, December 19th. Morgan Stanley decreased their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Barclays decreased their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Stock Up 0.1 %

The firm has a market cap of $13.73 billion, a PE ratio of 17.18, a P/E/G ratio of 1.23 and a beta of 1.27. The firm’s 50 day moving average is $77.78 and its 200-day moving average is $83.58. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the business posted $1.60 earnings per share. Textron’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Textron

A number of institutional investors have recently made changes to their positions in TXT. Empirical Finance LLC raised its stake in Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after acquiring an additional 115 shares in the last quarter. Apollon Wealth Management LLC raised its position in shares of Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after buying an additional 125 shares in the last quarter. Pflug Koory LLC lifted its stake in shares of Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after acquiring an additional 125 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after acquiring an additional 141 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 163 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Company Profile

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.