Textron (NYSE:TXT) Sets New 52-Week Low – Time to Sell?

Textron Inc. (NYSE:TXT)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $75.00 and last traded at $75.58, with a volume of 1019312 shares changing hands. The stock had previously closed at $75.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TXT shares. Vertical Research raised shares of 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. Susquehanna cut their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday. Robert W. Baird lowered their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Barclays lowered their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.64.

Textron Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The firm has a market capitalization of $14.10 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.46 and a beta of 1.27. The stock has a fifty day moving average price of $81.61 and a two-hundred day moving average price of $85.56.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the company posted $1.49 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts forecast that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a $0.02 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s payout ratio is currently 1.76%.

Institutional Investors Weigh In On Textron

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after purchasing an additional 160,923 shares during the last quarter. Brandes Investment Partners LP raised its stake in Textron by 20.0% during the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after acquiring an additional 258,778 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after purchasing an additional 231,173 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Textron by 3.9% in the second quarter. Hsbc Holdings PLC now owns 626,323 shares of the aerospace company’s stock worth $53,830,000 after purchasing an additional 23,404 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Textron by 13.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock valued at $43,884,000 after purchasing an additional 57,967 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

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.