Textron (NYSE:TXT) Hits New 52-Week Low - Here's Why

Shares of Textron Inc. (NYSE:TXT - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $75.34 and last traded at $75.74, with a volume of 49602 shares. The stock had previously closed at $77.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. UBS Group cut their price objective on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research note on Friday, October 25th. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. Robert W. Baird dropped their price target on Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Finally, Barclays decreased their price objective on shares of Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Textron currently has an average rating of "Moderate Buy" and a consensus price target of $100.90.

Textron Price Performance

The company has a market capitalization of $14.20 billion, a P/E ratio of 16.83, a PEG ratio of 1.46 and a beta of 1.25. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The business has a 50 day simple moving average of $82.94 and a 200-day simple moving average of $86.12.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the firm earned $1.49 earnings per share. The company's revenue for the quarter was up 2.5% on a year-over-year basis. Analysts predict that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron's payout ratio is currently 1.76%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its holdings in Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock worth $14,505,000 after purchasing an additional 15,294 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Textron in the third quarter valued at approximately $828,000. Easterly Investment Partners LLC increased its stake in shares of Textron by 87.7% during the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company's stock valued at $3,659,000 after acquiring an additional 19,304 shares during the period. KBC Group NV bought a new stake in Textron during the third quarter worth approximately $1,797,000. Finally, National Bank of Canada FI boosted its stake in Textron by 161.8% during the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company's stock valued at $12,860,000 after purchasing an additional 89,724 shares in the last quarter. 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.