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

Textron Inc. (NYSE:TXT)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $76.03 and last traded at $76.23, with a volume of 1544582 shares trading hands. The stock had previously closed at $80.07.

Analyst Ratings Changes

TXT has been the topic of a number of recent research reports. Robert W. Baird dropped their target price on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group decreased their price target on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and decreased their price target for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Stock Performance

The stock has a 50-day simple moving average of $84.76 and a 200 day simple moving average of $86.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The company has a market capitalization of $14.12 billion, a PE ratio of 16.73, a P/E/G ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the company earned $1.49 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s dividend payout ratio is currently 1.76%.

Institutional Trading of Textron

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. acquired a new position in Textron in the third quarter valued at $828,000. Easterly Investment Partners LLC increased its stake in Textron by 87.7% in the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after purchasing an additional 19,304 shares during the last quarter. KBC Group NV acquired a new position in Textron in the third quarter valued at $1,797,000. National Bank of Canada FI increased its stake in Textron by 161.8% in the third quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after purchasing an additional 89,724 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Textron by 13.3% in 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 last quarter. 86.03% of the stock is currently owned by hedge funds and other 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.