Brokers Set Expectations for Textron Inc.’s FY2024 Earnings (NYSE:TXT)

Textron Inc. (NYSE:TXT) – Zacks Research lifted their FY2024 earnings per share (EPS) estimates for Textron in a research report issued on Thursday, April 18th. Zacks Research analyst R. Department now expects that the aerospace company will post earnings per share of $6.23 for the year, up from their prior forecast of $6.21. The consensus estimate for Textron’s current full-year earnings is $6.27 per share. Zacks Research also issued estimates for Textron’s Q4 2024 earnings at $1.80 EPS, Q4 2025 earnings at $2.09 EPS and FY2026 earnings at $7.39 EPS.

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

Textron Stock Performance

TXT opened at $93.30 on Friday. Textron has a 12-month low of $61.27 and a 12-month high of $97.33. The stock has a market cap of $17.95 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.45 and a beta of 1.30. The business has a 50 day moving average of $91.65 and a 200-day moving average of $83.38. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the firm posted $1.07 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis.

Hedge Funds Weigh In On Textron

A number of hedge funds have recently added to or reduced their stakes in the stock. Metis Global Partners LLC increased its stake in shares of Textron by 12.8% in the 3rd quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock valued at $796,000 after purchasing an additional 1,158 shares during the last quarter. LSV Asset Management increased its stake in shares of Textron by 7.6% in the 3rd quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after purchasing an additional 230,560 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Textron by 36.9% in the 3rd quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock valued at $42,367,000 after purchasing an additional 146,055 shares during the last quarter. AustralianSuper Pty Ltd increased its stake in shares of Textron by 13.2% in the 4th quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock valued at $7,943,000 after purchasing an additional 11,510 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Textron by 269.1% in the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock valued at $1,680,000 after purchasing an additional 15,235 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid 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 (DPR) is presently 1.75%.

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.