Textron (NYSE:TXT) Reaches New 52-Week Low – Should You Sell?

Textron Inc. (NYSE:TXT) shares reached a new 52-week low during trading on Monday . The company traded as low as $74.12 and last traded at $74.82, with a volume of 97623 shares traded. The stock had previously closed at $76.51.

Wall Street Analyst Weigh In

TXT has been the topic of several analyst reports. Morgan Stanley cut their target price 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. Citigroup cut their target price on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. TD Cowen upgraded Textron to a “hold” rating in a report on Thursday, December 19th. Barclays lowered their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Down 1.6 %

The company has a market cap of $13.97 billion, a PE ratio of 17.47, a P/E/G ratio of 1.25 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 stock has a 50-day moving average of $79.27 and a 200-day moving average of $84.41.

Textron (NYSE:TXT) last released its earnings results 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 return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the company posted $1.60 EPS. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Textron Inc. will post 6.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TXT. True Wealth Design LLC purchased a new position in shares of Textron in the third quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of Textron in the 3rd quarter valued at approximately $42,000. Truvestments Capital LLC bought a new position in shares of Textron during the third quarter valued at approximately $43,000. Eastern Bank purchased a new stake in Textron in the 4th quarter valued at about $42,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Textron by 69.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after buying an additional 232 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.