Equities Analysts Issue Forecasts for Textron Inc.’s Q3 2024 Earnings (NYSE:TXT)

Textron Inc. (NYSE:TXT) – Analysts at Zacks Research cut their Q3 2024 earnings per share estimates for shares of Textron in a research note issued on Thursday, September 26th. Zacks Research analyst R. Department now anticipates that the aerospace company will earn $1.54 per share for the quarter, down from their previous estimate of $1.62. The consensus estimate for Textron’s current full-year earnings is $6.18 per share. Zacks Research also issued estimates for Textron’s Q4 2024 earnings at $1.94 EPS, FY2024 earnings at $6.22 EPS, Q1 2025 earnings at $1.43 EPS and FY2025 earnings at $6.96 EPS.

Several other research firms have also issued reports on TXT. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. Citigroup increased their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. UBS Group upped their price objective on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. Finally, Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $101.50.

Textron Stock Down 1.3 %

TXT stock opened at $87.45 on Monday. The business has a 50 day moving average of $88.10 and a 200 day moving average of $89.07. The firm has a market cap of $16.38 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.23. Textron has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Textron in the second quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron during the second quarter valued at $30,000. Oakworth Capital Inc. bought a new stake in Textron during the second quarter valued at about $31,000. Family Firm Inc. purchased a new stake in Textron in the second quarter worth about $40,000. Finally, Truvestments Capital LLC bought a new position in shares of Textron in the first quarter worth about $48,000. Institutional investors own 86.03% of the company’s stock.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Friday, September 13th. Textron’s payout ratio is currently 1.71%.

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.