The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Textron Inc. shares valued at $4,158,484 were sold by Lupone E Robert on Feb 21 ’24. At $85.17 per share, Lupone E Robert sold 48,825 shares. The insider’s holdings dropped to 97,993 shares worth approximately $9.37 million following the completion of this transaction.
Also, Lupone E Robert sold 8,380 shares, netting a total of over 713,192 in proceeds. Following the sale of shares at $85.11 each, the insider now holds 97,993 shares.
Before that, Bamford Mark S had sold 6,177 shares from its account. In a trade valued at $534,002, the VP & Corporate Controller traded Textron Inc. shares for $86.45 each. Upon closing the transaction, the insider’s holdings decreased to 6,177 shares, worth approximately $1.71 million.
As published in a research note from BofA Securities on March 08, 2024, Textron Inc. [TXT] has been rated up from a Neutral to a Buy and the price target has been revised to $105 from $85. Analysts at UBS started covering the stock with ‘”a Sell”‘ outlook in a report released in mid October. As of July 06, 2023, Citigroup has initiated its “Buy” rating for TXT. Earlier on May 24, 2023, Vertical Research downgraded its rating. Their new recommendation was “a Hold” for TXT stock which previously was a “a Buy”.
Analyzing TXT Stock Performance
During the last five days, there has been a surge of approximately 1.36%. Over the course of the year, Textron Inc. shares have jumped approximately 18.93%. Shares of the company reached a 52-week high of $97.33 on 04/08/24 and a 52-week low of $76.98 on 01/17/24. A 50-day SMA is recorded $90.49, while a 200-day SMA reached $79.79. Nevertheless, trading volume fell to 1.11 million shares from 0.91 million shares the previous day.
Support And Resistance Levels for Textron Inc. (TXT)
According to the 24-hour chart, there is a support level at 94.77, which, if violated, would cause prices to drop to 93.89. In the upper region, resistance lies at 96.33. The next price resistance is at 97.01. RSI (Relative Strength Index) is 62.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.59, which suggests the price will decrease in the coming days. Percent R is at 51.60%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Textron Inc. subject to short interest?
Stocks of Textron Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.26 million shares to 4.85 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 5.11 million shares. A decline of -5.36% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.37 of the overall float, the days-to-cover ratio (short ratio) decline to 4.37.
