Textron (NYSE:TXT) Reaches New 12-Month Low – Time to Sell?

Textron Inc. (NYSE:TXT)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $67.66 and last traded at $67.77, with a volume of 275302 shares trading hands. The stock had previously closed at $72.48.

Analyst Ratings Changes

TXT has been the topic of a number of research analyst reports. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. Morgan Stanley decreased their target price on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. reduced their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Price Performance

The stock has a market capitalization of $11.00 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The business has a fifty day simple moving average of $73.49 and a 200 day simple moving average of $79.62. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 EPS. On average, analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Friday, March 14th. Textron’s payout ratio is 1.86%.

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division lifted its holdings in Textron by 3.1% during the first quarter. Central Pacific Bank Trust Division now owns 24,950 shares of the aerospace company’s stock valued at $1,803,000 after purchasing an additional 750 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Textron by 123.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock valued at $61,000 after buying an additional 465 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Textron by 50.2% in the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock worth $46,137,000 after buying an additional 201,696 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Textron by 27.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 31,263 shares of the aerospace company’s stock valued at $2,391,000 after buying an additional 6,643 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Textron during the 4th quarter valued at $5,083,000. 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.