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

Textron Inc. (NYSE:TXT) shares reached a new 52-week low during trading on Monday . The stock traded as low as $73.92 and last traded at $74.65, with a volume of 62121 shares changing hands. The stock had previously closed at $74.52.

Analysts Set New Price Targets

Several research analysts have weighed in on TXT shares. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and lowered their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Barclays cut their price objective 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. TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Thursday, December 19th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Monday, January 6th. Finally, Citigroup reduced their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Stock Down 0.5 %

The firm has a market cap of $13.75 billion, a PE ratio of 17.19, a P/E/G ratio of 1.23 and a beta of 1.27. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $78.24 and its 200-day moving average is $83.83.

Textron (NYSE:TXT) last released its 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. 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 the consensus estimate of $3.78 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. Textron’s revenue 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 Trading of Textron

A number of hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC acquired a new stake in shares of Textron during the 3rd quarter valued at approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Textron during the fourth quarter worth $31,000. Capital Performance Advisors LLP bought a new position in shares of Textron in the 3rd quarter worth about $42,000. Eastern Bank acquired a new position in shares of Textron in the 4th quarter valued at about $42,000. Finally, Truvestments Capital LLC bought a new stake in shares of Textron during the 3rd quarter valued at about $43,000. 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.