Textron (NYSE:TXT) Updates FY 2024 Earnings Guidance

Textron (NYSE:TXT) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.200-6.400 for the period, compared to the consensus EPS estimate of 6.310. The company issued revenue guidance of -.

Textron Stock Performance

Shares of TXT opened at $92.07 on Thursday. Textron has a one year low of $67.04 and a one year high of $97.33. The business has a fifty day moving average of $87.24 and a 200 day moving average of $87.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84. The firm has a market capitalization of $17.56 billion, a P/E ratio of 19.67, a PEG ratio of 1.49 and a beta of 1.25.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, sell-side analysts anticipate that Textron will post 6.27 EPS for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Friday, June 14th. Textron’s payout ratio is 1.71%.

Wall Street Analyst Weigh In

TXT has been the subject of several recent research reports. Susquehanna cut their price target on Textron from $110.00 to $105.00 and set a positive rating for the company in a report on Friday, April 26th. StockNews.com lowered shares of Textron from a strong-buy rating to a buy rating in a report on Friday, April 26th. The Goldman Sachs Group lifted their price target on shares of Textron from $103.00 to $120.00 and gave the company a buy rating in a report on Tuesday, April 16th. Finally, Citigroup increased their price objective on shares of Textron from $104.00 to $111.00 and gave the stock a buy rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $99.29.

Insider Buying and Selling

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the sale, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.

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.