Textron (NYSE:TXT) Sets New 1-Year Low – Should You Sell?

Textron Inc. (NYSE:TXT)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $71.44 and last traded at $71.38, with a volume of 414653 shares changing hands. The stock had previously closed at $74.02.

Analysts Set New Price Targets

A number of analysts recently weighed in on TXT shares. JPMorgan Chase & Co. decreased their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. Citigroup decreased their price objective on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Finally, Barclays dropped their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Price Performance

The stock has a fifty day moving average of $75.68 and a two-hundred day moving average of $82.17. The stock has a market cap of $12.83 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 EPS. On average, equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its position in Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after buying an additional 1,167,105 shares in the last quarter. Boston Partners boosted its stake in shares of Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock valued at $572,465,000 after acquiring an additional 333,127 shares during the last quarter. Geode Capital Management LLC increased its position in Textron by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock worth $350,619,000 after purchasing an additional 164,964 shares in the last quarter. Brandes Investment Partners LP raised its stake in Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after purchasing an additional 302,712 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Textron by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock valued at $137,971,000 after purchasing an additional 155,384 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.