Analysts Offer Predictions for Textron Inc.’s FY2024 Earnings (NYSE:TXT)

Textron Inc. (NYSE:TXT) – Zacks Research upped their FY2024 EPS estimates for Textron in a note issued to investors on Thursday, April 18th. Zacks Research analyst R. Department now anticipates that the aerospace company will post earnings of $6.23 per share for the year, up from their previous estimate 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.

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

TXT has been the subject of several other reports. Citigroup lifted their price objective on shares of 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 shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group lifted their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, UBS Group lifted their price objective on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.63.

Textron Price Performance

NYSE TXT opened at $92.58 on Friday. Textron has a 12-month low of $61.27 and a 12-month high of $97.33. The firm’s fifty day simple moving average is $91.53 and its two-hundred day simple moving average is $83.27. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $17.81 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.45 and a beta of 1.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CVA Family Office LLC purchased a new position in Textron in the fourth quarter valued at $29,000. Money Concepts Capital Corp increased its holdings in Textron by 109.0% in the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock valued at $31,000 after buying an additional 231 shares in the last quarter. CENTRAL TRUST Co increased its holdings in Textron by 100.0% in the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock valued at $35,000 after buying an additional 300 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Textron by 393.9% in the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after buying an additional 390 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new position in Textron in the third quarter valued at $37,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a dividend of $0.02 per share. The ex-dividend date of this dividend 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 is presently 1.75%.

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.