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

Textron Inc. (NYSE:TXT) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $71.44 and last traded at $71.38, with a volume of 414653 shares traded. The stock had previously closed at $74.02.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TXT. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Monday, January 6th. Morgan Stanley lowered their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Robert W. Baird reduced their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Citigroup lowered their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Finally, Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Textron Stock Down 5.1 %

The firm has a 50 day moving average price of $75.68 and a two-hundred day moving average price of $82.17. The firm has a market capitalization of $12.83 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. 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 posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the business posted $1.60 EPS. The business’s quarterly revenue was down 7.2% on a year-over-year basis. On average, equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is currently 1.86%.

Insider Activity at Textron

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted its holdings in Textron by 0.8% in the 3rd quarter. US Bancorp DE now owns 25,256 shares of the aerospace company’s stock worth $2,237,000 after buying an additional 192 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Textron by 90.0% during the third quarter. Farther Finance Advisors LLC now owns 1,706 shares of the aerospace company’s stock worth $151,000 after acquiring an additional 808 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of 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 worth $43,884,000 after acquiring an additional 57,967 shares in the last quarter. National Pension Service boosted its holdings in Textron by 2.6% in the third quarter. National Pension Service now owns 368,481 shares of the aerospace company’s stock valued at $32,640,000 after purchasing an additional 9,491 shares during the last quarter. Finally, QRG Capital Management Inc. grew its stake in Textron by 5.0% during the 3rd quarter. QRG Capital Management Inc. now owns 112,093 shares of the aerospace company’s stock valued at $9,929,000 after purchasing an additional 5,300 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

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.