Textron (NYSE:TXT - Get Free Report) posted its earnings results on Thursday. The aerospace company reported $1.20 earnings per share (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 for 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 company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. Textron updated its FY 2024 guidance to 6.200-6.400 EPS.
Textron Trading Up 1.9 %
Shares of TXT stock traded up $1.61 during trading hours on Friday, reaching $86.51. 2,662,684 shares of the stock traded hands, compared to its average volume of 1,221,277. Textron has a 1-year low of $61.27 and a 1-year high of $97.33. The business has a fifty day moving average price of $92.10 and a 200 day moving average price of $83.86. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $16.64 billion, a PE ratio of 18.93, a PEG ratio of 1.48 and a beta of 1.30.
Textron Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron's payout ratio is currently 1.75%.
Analyst Ratings Changes
A number of research firms have issued reports on TXT. Bank of America raised shares of Textron from a "neutral" rating to a "buy" rating and boosted their target price for the company from $85.00 to $105.00 in a research note on Friday, March 8th. UBS Group upped their price target 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. The Goldman Sachs Group upped their price target on shares of Textron from $103.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Susquehanna reduced their price target on shares of Textron from $110.00 to $105.00 and set a "positive" rating for the company in a research note on Friday. Finally, StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $95.63.
Read Our Latest Research Report on TXT
Textron Company Profile
(
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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.
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