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

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

Analyst Ratings Changes

A number of equities analysts have recently commented on TXT shares. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Robert W. Baird cut their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, UBS Group cut their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six 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 price target of $101.56.

Textron Trading Down 4.9 %

The company has a market cap of $14.12 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $84.76 and a 200 day moving average price of $86.66.

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). The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 earnings per share. As a group, sell-side analysts forecast that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

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

Institutional Trading of Textron

A number of institutional investors have recently made changes to their positions in TXT. Franklin Resources Inc. raised its holdings in shares of Textron by 10.3% in the 3rd quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Textron in the 3rd quarter worth approximately $122,000. M&T Bank Corp raised its holdings in shares of Textron by 2.3% in the 3rd quarter. M&T Bank Corp now owns 17,101 shares of the aerospace company’s stock worth $1,514,000 after purchasing an additional 382 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Textron in the 3rd quarter worth approximately $742,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Textron by 1.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 55,845 shares of the aerospace company’s stock worth $4,947,000 after purchasing an additional 871 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

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.