Textron (NYSE:TXT) Reaches New 52-Week Low – Time to 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. The stock had previously closed at $80.07.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TXT. Robert W. Baird decreased their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. TD Cowen upgraded Textron to a “hold” rating in a research note on Thursday. Finally, UBS Group lowered their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Up 1.4 %

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 company has a market cap of $14.26 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 1.46 and a beta of 1.25. The business has a fifty day moving average price of $84.34 and a two-hundred day moving average price of $86.51.

Textron (NYSE:TXT) last posted 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 return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the company posted $1.49 earnings per share. Textron’s quarterly revenue was up 2.5% on a year-over-year basis. On average, equities analysts predict that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Institutional Trading of Textron

Hedge funds have recently made changes to their positions in the business. Brandes Investment Partners LP boosted its holdings in Textron by 20.0% in the second 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 during the last quarter. AQR Capital Management LLC grew its position in shares of Textron by 18.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after purchasing an additional 231,173 shares in the last quarter. Fidelity National Financial Inc. purchased a new position in Textron in the 2nd quarter worth approximately $19,748,000. Distillate Capital Partners LLC raised its position in Textron by 101,299.4% in the 2nd quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock worth $14,278,000 after purchasing an additional 166,131 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Textron by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after buying an additional 160,923 shares during the period. 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.