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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TXT shares. UBS Group lowered their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. TD Cowen upgraded Textron to a “hold” rating in a research report on Thursday, December 19th. Bank of America cut Textron from a “buy” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, Barclays reduced their target price on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Stock Down 0.2 %

The stock has a 50 day moving average price of $76.55 and a 200-day moving average price of $82.86. The stock has a market capitalization of $13.23 billion, a P/E ratio of 16.82, a PEG ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84.

Textron (NYSE:TXT) last announced its quarterly earnings data 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 return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the firm earned $1.60 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, research analysts expect that Textron Inc. will post 6.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TXT. Creative Planning grew its stake in shares of Textron by 0.4% in the third quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after purchasing an additional 165 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Textron by 73.3% in the third quarter. Blue Trust Inc. now owns 1,915 shares of the aerospace company’s stock worth $164,000 after purchasing an additional 810 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Textron by 21.3% in the third quarter. Foundations Investment Advisors LLC now owns 4,103 shares of the aerospace company’s stock worth $363,000 after purchasing an additional 721 shares during the last quarter. Stanley Laman Group Ltd. grew its stake in shares of Textron by 1.0% in the third quarter. Stanley Laman Group Ltd. now owns 39,323 shares of the aerospace company’s stock worth $3,483,000 after purchasing an additional 405 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Textron by 10.2% in the third quarter. Private Advisor Group LLC now owns 15,948 shares of the aerospace company’s stock worth $1,413,000 after purchasing an additional 1,481 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

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.