Textron (TXT) to Release Quarterly Earnings on Thursday

Textron (NYSE:TXT) will be posting 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.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the business posted $1.07 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, analysts expect Textron to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Textron Trading Down 1.1 %

NYSE:TXT opened at $92.21 on Thursday. The company has a fifty day moving average of $91.43 and a 200 day moving average of $83.20. Textron has a 52 week low of $61.27 and a 52 week high of $97.33. 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 $17.74 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.47 and a beta of 1.30.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued 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 currently 1.75%.

Institutional Trading of Textron

Several institutional investors have recently bought and sold shares of the company. Money Concepts Capital Corp grew its holdings 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 buying an additional 231 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Textron during the 1st quarter valued at approximately $40,000. CENTRAL TRUST Co grew its holdings in Textron by 100.0% during the 3rd quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in Textron during the 1st quarter valued at approximately $63,000. Finally, AM Squared Ltd purchased a new stake in Textron during the 1st quarter valued at approximately $85,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TXT has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $105.00 in a report on Friday, March 8th. Citigroup boosted their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. UBS Group boosted their price objective on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. The Goldman Sachs Group boosted their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.63.

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.