Zacks Research Equities Analysts Cut Earnings Estimates for Textron Inc. (NYSE:TXT)

Textron Inc. (NYSE:TXT) – Investment analysts at Zacks Research decreased their Q3 2024 earnings per share (EPS) estimates for Textron in a research report issued on Thursday, September 26th. Zacks Research analyst R. Department now anticipates that the aerospace company will post earnings per share of $1.54 for the quarter, down from their prior forecast of $1.62. The consensus estimate for Textron’s current full-year earnings is $6.26 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.

A number of other brokerages have also issued reports on TXT. Bank of America raised their price target on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. UBS Group raised their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. Citigroup raised their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.50.

Textron Stock Up 1.4 %

Shares of NYSE:TXT opened at $87.75 on Monday. The stock’s 50-day moving average price is $88.26 and its two-hundred day moving average price is $89.13. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. Textron has a 12-month low of $74.13 and a 12-month high of $97.33. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.38 and a beta of 1.23.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the company earned $1.46 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year.

Institutional Investors Weigh In On Textron

Several hedge funds have recently modified their holdings of TXT. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Textron by 1.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 15,866 shares of the aerospace company’s stock valued at $1,276,000 after buying an additional 260 shares during the period. Bank of Nova Scotia increased its holdings in Textron by 154.6% during the 4th quarter. Bank of Nova Scotia now owns 47,126 shares of the aerospace company’s stock worth $3,790,000 after purchasing an additional 28,619 shares during the last quarter. California State Teachers Retirement System increased its holdings in Textron by 3.4% during the 4th quarter. California State Teachers Retirement System now owns 327,558 shares of the aerospace company’s stock worth $26,342,000 after purchasing an additional 10,863 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 338 shares during the last quarter. Finally, NEOS Investment Management LLC purchased a new stake in Textron during the 4th quarter worth approximately $224,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, September 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. 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.