Textron (NYSE:TXT) Sets New 12-Month Low – Should You Sell?

Textron Inc. (NYSE:TXT) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $71.94 and last traded at $72.54, with a volume of 98591 shares. The stock had previously closed at $72.28.

Wall Street Analysts Forecast Growth

Several analysts have commented on TXT shares. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Thursday, December 19th. UBS Group lowered their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Citigroup lowered their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Barclays lowered their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Performance

The company has a market capitalization of $13.23 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The business’s fifty day moving average is $76.55 and its two-hundred day moving average is $82.86. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the business earned $1.60 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities research analysts predict that Textron Inc. will post 6.11 earnings per share for the current year.

Institutional Investors Weigh In On Textron

A number of large investors have recently added to or reduced their stakes in TXT. Balyasny Asset Management L.P. grew its position in Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company’s stock worth $94,575,000 after purchasing an additional 1,218,485 shares during the period. Invesco Ltd. grew its position in Textron by 17.8% in the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after purchasing an additional 1,167,105 shares during the period. Raymond James Financial Inc. bought a new stake in Textron in the 4th quarter worth approximately $41,451,000. D. E. Shaw & Co. Inc. grew its position in Textron by 97.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company’s stock worth $78,872,000 after purchasing an additional 510,085 shares during the period. Finally, Boston Partners grew its position in Textron by 4.7% in the 4th quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after purchasing an additional 333,127 shares during the period. Institutional investors 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.