Textron Inc. (TXT) Expected to Announce Earnings of $0.70 Per Share
Equities research analysts expect that Textron Inc. (NYSE:TXT) will post earnings per share of $0.70 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Textron’s earnings, with estimates ranging from $0.65 to $0.76. Textron posted earnings of $0.72 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.8%. The company is expected to report its next quarterly earnings results before the market opens on Wednesday, April 17th.
According to Zacks, analysts expect that Textron will report full-year earnings of $3.67 per share for the current year, with EPS estimates ranging from $3.60 to $3.73. For the next financial year, analysts anticipate that the company will report earnings of $4.02 per share, with EPS estimates ranging from $3.80 to $4.20. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Textron.
Textron (NYSE:TXT) last released its earnings results on Thursday, January 24th. The aerospace company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.17. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.99 billion. Textron had a return on equity of 15.51% and a net margin of 8.75%. The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS.
TXT traded up $0.73 during midday trading on Tuesday, reaching $52.14. The company’s stock had a trading volume of 2,430,300 shares, compared to its average volume of 1,738,195. The firm has a market capitalization of $12.16 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.65. The company has a quick ratio of 1.05, a current ratio of 2.14 and a debt-to-equity ratio of 0.68. Textron has a twelve month low of $43.27 and a twelve month high of $72.87.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.02 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. Textron’s dividend payout ratio (DPR) is currently 2.40%.
In other news, VP Mark S. Bamford sold 4,500 shares of Textron stock in a transaction on Friday, March 1st. The stock was sold at an average price of $54.75, for a total value of $246,375.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Scott C. Donnelly sold 230,654 shares of Textron stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $55.04, for a total value of $12,695,196.16. Following the completion of the sale, the chairman now directly owns 707,495 shares of the company’s stock, valued at $38,940,524.80. The disclosure for this sale can be found here. Insiders sold a total of 458,112 shares of company stock valued at $25,222,635 over the last three months. Insiders own 1.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of TXT. Pennsylvania Trust Co bought a new stake in Textron during the first quarter worth about $2,156,000. Sciencast Management LP increased its position in Textron by 580.3% during the first quarter. Sciencast Management LP now owns 29,239 shares of the aerospace company’s stock worth $1,485,000 after buying an additional 24,941 shares during the last quarter. Retirement Systems of Alabama increased its position in Textron by 0.3% during the first quarter. Retirement Systems of Alabama now owns 214,339 shares of the aerospace company’s stock worth $10,858,000 after buying an additional 629 shares during the last quarter. Scout Investments Inc. increased its position in Textron by 4.3% during the first quarter. Scout Investments Inc. now owns 383,220 shares of the aerospace company’s stock worth $19,414,000 after buying an additional 15,903 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Textron during the first quarter worth approximately $208,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.
Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.
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