Textron (NYSE:TXT) Posts Earnings Results, Misses Estimates By $0.06 EPS

Textron (NYSE:TXT) released its quarterly earnings data on Thursday. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.06), Briefing.com reports. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the firm posted $1.49 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Textron updated its FY 2024 guidance to 5.400-5.600 EPS and its FY24 guidance to $5.40-$5.60 EPS.

Textron Price Performance

Shares of Textron stock traded up $1.09 during trading on Friday, hitting $82.58. 873,381 shares of the stock traded hands, compared to its average volume of 1,073,582. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.47 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.43 and a beta of 1.23. The firm’s fifty day moving average is $87.81 and its 200-day moving average is $88.19. Textron has a 52 week low of $74.13 and a 52 week high of $97.33.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s dividend payout ratio (DPR) is presently 1.69%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and decreased their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Bank of America boosted their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup upped their target price on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and an average target price of $102.44.

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.