Textron (NYSE:TXT) Sets New 52-Week Low - Time to Sell?

Shares of Textron Inc. (NYSE:TXT - Get Free Report) hit a new 52-week low on Monday . The stock 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 Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Morgan Stanley decreased their price target on shares of Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Citigroup cut their target price on Textron from $118.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research report on Friday, October 25th. Finally, Bank of America downgraded 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Trading Down 1.0 %

The business's 50-day simple moving average is $78.24 and its two-hundred day simple moving average is $83.93. 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 $13.82 billion, a PE ratio of 17.28, a PEG ratio of 1.23 and a beta of 1.27.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter in the previous year, the firm posted $1.60 earnings per share. The company's revenue was down 7.2% compared to the same quarter last year. On average, analysts predict that Textron Inc. will post 6.1 earnings per share for the current year.

Institutional Trading of Textron

A number of hedge funds and other institutional investors have recently made changes to their positions in TXT. True Wealth Design LLC bought a new stake in shares of Textron in the 3rd quarter worth about $26,000. SBI Securities Co. Ltd. bought a new position in shares of Textron during the fourth quarter worth about $31,000. Capital Performance Advisors LLP bought a new stake in Textron in the third quarter valued at about $42,000. Eastern Bank acquired a new stake in Textron during the fourth quarter valued at approximately $42,000. Finally, Truvestments Capital LLC acquired a new stake in Textron during the third quarter valued at approximately $43,000. 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.