Textron (TXT) to Release Quarterly Earnings on Thursday

Textron (NYSE:TXT) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.33 per share for the quarter. Textron has set its FY24 guidance at $6.20-6.40 EPS.Parties that wish to register for the company’s conference call can do so using this link.

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

Textron Stock Down 1.1 %

Shares of Textron stock opened at $92.21 on Thursday. 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 cap 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 has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The business has a 50-day moving average price of $91.43 and a 200 day moving average price of $83.20.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date was Thursday, March 14th. Textron’s dividend payout ratio is currently 1.75%.

Analysts Set New Price Targets

A number of brokerages have commented on TXT. UBS Group lifted their target price on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Citigroup lifted their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group lifted their target price on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Textron from $84.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.63.

Institutional Investors Weigh In On Textron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Money Concepts Capital Corp grew its holdings in shares of 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 acquiring an additional 231 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in Textron by 100.0% in the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Textron in the first quarter worth $40,000. Dark Forest Capital Management LP bought a new stake in Textron in the first quarter worth $63,000. Finally, AM Squared Ltd bought a new stake in Textron in the first quarter worth $85,000. Institutional investors own 86.03% of the company’s stock.

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.