Textron Inc. to Post FY2024 Earnings of $6.23 Per Share, Zacks Research Forecasts (NYSE:TXT)

Textron Inc. (NYSE:TXT - Free Report) - Equities research analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of Textron in a report issued on Thursday, April 18th. Zacks Research analyst R. Department now expects that the aerospace company will post earnings of $6.23 per share for the year, up from their prior estimate of $6.21. The consensus estimate for Textron's current full-year earnings is $6.27 per share. Zacks Research also issued estimates for Textron's Q4 2024 earnings at $1.80 EPS, Q4 2025 earnings at $2.09 EPS and FY2026 earnings at $7.39 EPS.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.07. The firm had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.97 billion. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 EPS.

A number of other equities analysts have also recently commented on the company. Bank of America upgraded Textron from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $85.00 to $105.00 in a report on Friday, March 8th. StockNews.com upgraded Textron from a "buy" rating to a "strong-buy" rating in a report on Thursday, January 25th. The Goldman Sachs Group boosted their price objective on Textron from $103.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday. Citigroup boosted their price objective on Textron from $104.00 to $111.00 and gave the company a "buy" rating in a report on Thursday, April 4th. Finally, UBS Group boosted their price objective on Textron from $77.00 to $81.00 and gave the company a "sell" rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.63.

Textron Trading Up 0.8 %

Shares of Textron stock traded up $0.72 on Friday, reaching $93.30. The company had a trading volume of 1,252,058 shares, compared to its average volume of 1,151,151. The firm has a market cap of $17.95 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 1.45 and a beta of 1.30. 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's 50-day moving average price is $91.65 and its two-hundred day moving average price is $83.38. Textron has a 1 year low of $61.27 and a 1 year high of $97.33.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Thursday, March 14th. Textron's dividend payout ratio (DPR) is presently 1.75%.

Institutional Investors Weigh In On Textron

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC raised its position in Textron by 18.6% during the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company's stock valued at $62,000 after purchasing an additional 122 shares in the last quarter. Allworth Financial LP raised its position in shares of Textron by 12.0% in the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company's stock worth $103,000 after acquiring an additional 137 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Textron by 2.9% in the 2nd quarter. Kestra Advisory Services LLC now owns 4,930 shares of the aerospace company's stock worth $333,000 after acquiring an additional 139 shares in the last quarter. Quent Capital LLC raised its position in shares of Textron by 29.2% in the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company's stock worth $51,000 after acquiring an additional 143 shares in the last quarter. Finally, Czech National Bank raised its position in shares of Textron by 0.5% in the 1st quarter. Czech National Bank now owns 34,487 shares of the aerospace company's stock worth $3,308,000 after acquiring an additional 157 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

About Textron

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.