Textron (NYSE:TXT) Sets New 12-Month Low - Here's Why

Textron Inc. (NYSE:TXT - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $73.92 and last traded at $74.65, with a volume of 62121 shares trading hands. The stock had previously closed at $74.52.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TXT shares. UBS Group reduced their price objective on shares of Textron from $87.00 to $79.00 and set a "sell" rating for the company in a report on Friday, October 25th. Barclays cut their price target on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Morgan Stanley lowered their price objective on Textron from $86.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Susquehanna cut their target price on Textron from $100.00 to $90.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Finally, Bank of America cut Textron from a "buy" rating to a "neutral" rating and lowered their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Textron has an average rating of "Moderate Buy" and a consensus price target of $93.45.

Textron Stock Up 0.5 %

The firm's 50 day moving average price is $77.54 and its 200-day moving average price is $83.50. The company has a market cap of $13.57 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 1.23 and a beta of 1.27. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40.

Textron (NYSE:TXT - Get Free Report) last released 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. The firm had revenue of $3.61 billion for 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%. The company's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.60 earnings per share. As a group, equities research analysts expect that Textron Inc. will post 6.1 EPS for the current year.

Hedge Funds Weigh In On Textron

A number of large investors have recently bought and sold shares of the company. Merit Financial Group LLC grew its position in Textron by 5.9% in the fourth quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock valued at $366,000 after purchasing an additional 265 shares in the last quarter. Franklin Resources Inc. grew its stake in Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock valued at $14,505,000 after purchasing an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Textron by 44.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock worth $1,343,000 after purchasing an additional 5,367 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Textron during the fourth quarter worth $11,523,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Textron during the 3rd quarter worth about $828,000. Institutional investors and hedge funds 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.