Textron (NYSE:TXT) Announces Earnings Results

Textron (NYSE:TXT) posted its quarterly earnings data on Wednesday. The aerospace company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07, RTT News reports. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.43 billion. Textron had a net margin of 9.07% and a return on equity of 15.55%. Textron’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share. Textron updated its FY 2019 guidance to $3.65-3.85 EPS and its FY19 guidance to $3.65-3.85 EPS.

Shares of Textron stock opened at $49.14 on Friday. Textron has a 52-week low of $43.27 and a 52-week high of $72.87. The company has a current ratio of 1.93, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55. The business’s 50-day moving average price is $50.79. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.04 and a beta of 1.76.

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. Textron’s dividend payout ratio (DPR) is 2.40%.

A number of research analysts have commented on the stock. Zacks Investment Research lowered shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Credit Suisse Group reiterated a “buy” rating and set a $241.00 price target on shares of FedEx in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. Textron presently has an average rating of “Hold” and a consensus price target of $63.33.

Several institutional investors have recently modified their holdings of TXT. Bessemer Group Inc. increased its stake in shares of Textron by 13.3% during the fourth quarter. Bessemer Group Inc. now owns 1,777 shares of the aerospace company’s stock worth $82,000 after acquiring an additional 209 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Textron by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,565,875 shares of the aerospace company’s stock worth $163,995,000 after buying an additional 30,800 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in Textron by 23.4% during the fourth quarter. Natixis Advisors L.P. now owns 66,893 shares of the aerospace company’s stock worth $3,076,000 after buying an additional 12,675 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Textron by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 3,144,494 shares of the aerospace company’s stock worth $144,357,000 after buying an additional 131,360 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its holdings in Textron by 31,461.0% during the fourth quarter. Brandywine Global Investment Management LLC now owns 44,501 shares of the aerospace company’s stock worth $2,047,000 after buying an additional 44,360 shares in the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Earnings History for Textron (NYSE:TXT)

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