Research Analysts Issue Forecasts for Textron Inc.’s FY2022 Earnings (NYSE:TXT)

Textron Inc. (NYSE:TXT – Get Rating) – Equities researchers at Zacks Research decreased their FY2022 earnings per share (EPS) estimates for shares of Textron in a note issued to investors on Tuesday, January 17th. Zacks Research analyst A. Dutt now anticipates that the aerospace company will earn $3.92 per share for the year, down from their previous estimate of $3.99. The consensus estimate for Textron’s current full-year earnings is $3.95 per share. Zacks Research also issued estimates for Textron’s Q4 2022 earnings at $0.99 EPS, Q2 2023 earnings at $0.90 EPS, Q3 2023 earnings at $1.02 EPS, FY2023 earnings at $4.08 EPS, Q2 2024 earnings at $1.12 EPS and Q3 2024 earnings at $1.22 EPS.

Textron (NYSE:TXT – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The aerospace company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.12. Textron had a return on equity of 12.40% and a net margin of 6.71%. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.21 billion.

Several other equities research analysts also recently issued reports on the stock. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 6th. The Goldman Sachs Group boosted their target price on shares of Textron from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, December 15th. Finally, Morgan Stanley cut their price target on shares of Textron from $90.00 to $84.00 and set an “overweight” rating on the stock in a report on Friday, October 28th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.67.

Textron Trading Up 2.2 %

Textron stock opened at $67.85 on Friday. Textron has a one year low of $57.11 and a one year high of $76.11. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.04 and a beta of 1.48. The firm has a 50-day moving average of $70.56 and a 200-day moving average of $66.17. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.22 and a quick ratio of 1.17.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Friday, December 9th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Thursday, December 8th. Textron’s dividend payout ratio is presently 2.07%.

Hedge Funds Weigh In On Textron

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Textron by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 23,702,886 shares of the aerospace company’s stock valued at $1,380,930,000 after buying an additional 84,175 shares during the period. BlackRock Inc. increased its stake in Textron by 1.0% during the 3rd quarter. BlackRock Inc. now owns 16,862,051 shares of the aerospace company’s stock valued at $982,383,000 after purchasing an additional 163,188 shares in the last quarter. State Street Corp increased its stake in Textron by 0.5% during the 1st quarter. State Street Corp now owns 9,564,040 shares of the aerospace company’s stock valued at $711,561,000 after purchasing an additional 47,344 shares in the last quarter. Boston Partners grew its stake in shares of Textron by 3.0% in the third quarter. Boston Partners now owns 6,806,157 shares of the aerospace company’s stock worth $396,864,000 after acquiring an additional 200,202 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of Textron by 12.1% in the third quarter. Victory Capital Management Inc. now owns 6,445,825 shares of the aerospace company’s stock worth $375,534,000 after acquiring an additional 697,027 shares during the period. Institutional investors own 84.69% of the company’s stock.

Textron Company Profile

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Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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.