Textron (NYSE:TXT) Reaches New 12-Month Low – Here’s What Happened

Textron Inc. (NYSE:TXT) 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. The stock had previously closed at $76.51.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TXT. Susquehanna decreased their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Barclays lowered their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. TD Cowen raised shares of Textron to a “hold” rating in a research note on Thursday, December 19th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Monday, January 6th. Finally, Citigroup reduced their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Textron has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Stock Performance

The stock’s fifty day simple moving average is $79.27 and its 200-day simple moving average is $84.41. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 1.25 and a beta of 1.27.

Textron (NYSE:TXT) last announced its earnings results 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. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. Analysts predict that Textron Inc. will post 6.1 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Elk River Wealth Management LLC boosted its stake in shares of Textron by 0.6% during the fourth quarter. Elk River Wealth Management LLC now owns 58,830 shares of the aerospace company’s stock valued at $4,501,000 after acquiring an additional 379 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Textron by 79.5% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company’s stock valued at $762,000 after purchasing an additional 4,409 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Textron by 3.9% in the fourth quarter. CIBC Asset Management Inc now owns 28,609 shares of the aerospace company’s stock worth $2,188,000 after acquiring an additional 1,081 shares in the last quarter. Allworth Financial LP increased its stake in shares of Textron by 11.6% in the fourth quarter. Allworth Financial LP now owns 1,801 shares of the aerospace company’s stock worth $141,000 after buying an additional 187 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in Textron by 56.8% during the 4th quarter. AustralianSuper Pty Ltd now owns 132,921 shares of the aerospace company’s stock worth $10,167,000 after acquiring an additional 48,147 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

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.