Textron (TXT) Set to Announce Quarterly Earnings on Thursday

Textron (NYSE:TXT - Get Free Report) will post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Textron to post earnings of $1.33 per share for the quarter. Textron has set its FY24 guidance at $6.20-6.40 EPS.Parties interested in registering for the company's conference call can do so using this link.

Textron (NYSE:TXT - Get Free Report) last released 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 company had revenue of $3.89 billion for 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 business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. On average, analysts expect Textron to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Textron Stock Performance

TXT stock traded up $0.37 during mid-day trading on Thursday, hitting $92.58. The company had a trading volume of 810,264 shares, compared to its average volume of 1,149,540. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The firm has a market cap of $17.81 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.30. Textron has a 12 month low of $61.27 and a 12 month high of $97.33. The stock's fifty day moving average price is $91.43 and its two-hundred day moving average price is $83.20.

Textron Announces Dividend

The firm 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. The ex-dividend date was Thursday, March 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%.

Institutional Trading of Textron

Large investors have recently modified their holdings of the business. Money Concepts Capital Corp increased its position in Textron by 109.0% during the 4th quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company's stock valued at $31,000 after purchasing an additional 231 shares during the period. CENTRAL TRUST Co increased its position in shares of Textron by 100.0% during the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company's stock valued at $35,000 after buying an additional 300 shares during the period. Lazard Asset Management LLC bought a new position in Textron in the first quarter worth about $40,000. Dark Forest Capital Management LP purchased a new stake in Textron in the first quarter worth about $63,000. Finally, AM Squared Ltd bought a new stake in Textron during the 1st quarter valued at approximately $85,000. 86.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

TXT has been the topic of a number of recent analyst reports. UBS Group raised their target price on shares of Textron from $77.00 to $81.00 and gave the company a "sell" rating in a research note on Friday, January 26th. Citigroup lifted their target price on shares of Textron from $104.00 to $111.00 and gave the stock a "buy" rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their price target on shares of Textron from $84.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, December 20th. Bank of America upgraded Textron from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $105.00 in a report on Friday, March 8th. Finally, The Goldman Sachs Group increased their target price on Textron from $103.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.63.

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.