Why Shares of Textron Were Down in February
Textron (NYSE: TXT) has been a Wall Street underperformer for some time now, trailing the S&P 500 by more than 50 percentage points over the past five years. The company over the years has attempted to break out of the rut. Its latest attempt fell through in February, causing shares of Textron to fall 11.6% in the month, according to data provided by S&P Global Market Intelligence.
Textron shares have underperformed due to a series of issues spread across the industrial conglomerate's vast portfolio that have led to earnings disappointments. The company, a maker of everything from business jets to snowmobiles, has been hit by a decadelong lull in corporate jet sales and retail channel problems.
Textron's Citation Longitude business jet. Image source: Textron.
Source Fool.com
