Textron (NYSE:TXT) Issues Earnings Results

Textron (NYSE:TXT) announced its quarterly earnings results on Thursday. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08), Briefing.com reports. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. Textron updated its FY 2024 guidance to 6.200-6.400 EPS.

Textron Stock Performance

NYSE:TXT traded up $1.59 on Friday, reaching $86.49. 952,858 shares of the company’s stock were exchanged, compared to its average volume of 1,197,439. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.48 and a beta of 1.30. Textron has a 52 week low of $61.27 and a 52 week high of $97.33. The stock has a fifty day simple moving average of $92.09 and a 200-day simple moving average of $83.81.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is presently 1.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Susquehanna decreased their price target on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday. Finally, Citigroup upped their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $95.63.

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.