Textron (NYSE:TXT) Hits New 52-Week Low at $43.12

Textron Inc. (NYSE:TXT) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $43.12 and last traded at $43.21, with a volume of 37655 shares. The stock had previously closed at $45.39.

Separately, ValuEngine raised Textron from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $59.29.

The stock’s 50-day moving average is $50.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.17 and a quick ratio of 0.97. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.26 and a beta of 1.74.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Textron had a return on equity of 15.55% and a net margin of 9.07%. The business’s revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. As a group, equities analysts forecast that Textron Inc. will post 3.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.08 annualized dividend and a yield of 0.18%. Textron’s payout ratio is 2.40%.

A number of institutional investors have recently bought and sold shares of TXT. Invesco Ltd. boosted its position in shares of Textron by 25.8% in the 2nd quarter. Invesco Ltd. now owns 6,305,455 shares of the aerospace company’s stock worth $334,441,000 after purchasing an additional 1,294,521 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Textron by 2.3% in the 1st quarter. Primecap Management Co. CA now owns 5,292,360 shares of the aerospace company’s stock worth $268,111,000 after purchasing an additional 116,746 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Textron by 6.0% in the 1st quarter. Victory Capital Management Inc. now owns 4,674,137 shares of the aerospace company’s stock worth $236,791,000 after purchasing an additional 264,230 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Textron by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,565,875 shares of the aerospace company’s stock worth $163,995,000 after purchasing an additional 30,800 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Textron by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 3,144,494 shares of the aerospace company’s stock worth $144,357,000 after purchasing an additional 131,360 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Textron Company Profile (NYSE:TXT)

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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