Zacks Research Has Negative Outlook for Textron Q3 Earnings

Textron Inc. (NYSE:TXT) – Zacks Research reduced their Q3 2024 earnings per share estimates for Textron in a research note issued on Friday, October 18th. Zacks Research analyst R. Department now expects that the aerospace company will post earnings of $1.47 per share for the quarter, down from their prior estimate of $1.54. The consensus estimate for Textron’s current full-year earnings is $6.10 per share. Zacks Research also issued estimates for Textron’s Q4 2024 earnings at $2.02 EPS, FY2024 earnings at $6.24 EPS, Q1 2025 earnings at $1.48 EPS, Q2 2025 earnings at $1.44 EPS, Q4 2025 earnings at $2.25 EPS, Q2 2026 earnings at $1.61 EPS and FY2026 earnings at $7.45 EPS.

A number of other research analysts also recently weighed in on TXT. Bank of America lifted their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. UBS Group lifted their price target on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.75.

Textron Stock Performance

Shares of TXT stock opened at $87.54 on Monday. Textron has a 1-year low of $74.13 and a 1-year high of $97.33. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.47 and a beta of 1.23. The stock’s fifty day simple moving average is $87.89 and its 200-day simple moving average is $88.31.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $0.02 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is currently 1.69%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TXT. Wedge Capital Management L L P NC purchased a new position in Textron in the second quarter valued at about $64,319,000. Canada Pension Plan Investment Board boosted its stake in shares of Textron by 1,611.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock worth $41,547,000 after acquiring an additional 407,800 shares in the last quarter. LSV Asset Management boosted its stake in shares of Textron by 6.9% during the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after acquiring an additional 260,003 shares in the last quarter. Brandes Investment Partners LP boosted its stake in shares of Textron by 20.0% during the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after acquiring an additional 258,778 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Textron by 206.7% during the 1st quarter. BNP Paribas Financial Markets now owns 352,868 shares of the aerospace company’s stock worth $33,851,000 after acquiring an additional 237,817 shares in the last quarter. Hedge funds and other 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.