By otakuyassine3@gmail.com 
Textron Inc. (NYSE:TXT – Get Free Report) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $73.92 and last traded at $74.65, with a volume of 62121 shares. The stock had previously closed at $74.52.
Wall Street Analyst Weigh In
Several research firms recently commented on TXT. TD Cowen upgraded Textron to a “hold” rating in a research report on Thursday, December 19th. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Citigroup lowered their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One investment 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.45.
Check Out Our Latest Research Report on Textron
Textron Stock Performance
The firm’s 50-day simple moving average is $78.24 and its two-hundred day simple moving average is $83.83. The stock has a market capitalization of $13.75 billion, a PE ratio of 17.19, a PEG 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 announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion during 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 business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.60 EPS. On average, equities research analysts expect that Textron Inc. will post 6.1 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Textron
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Textron during the fourth quarter worth approximately $41,451,000. Brandes Investment Partners LP grew its stake in Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after buying an additional 302,712 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Textron during the 4th quarter worth $11,523,000. Wealthfront Advisers LLC boosted its holdings in Textron by 384.7% during the fourth quarter. Wealthfront Advisers LLC now owns 175,347 shares of the aerospace company’s stock valued at $13,412,000 after acquiring an additional 139,173 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Textron by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after purchasing an additional 104,982 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.
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.
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