Textron (NYSE:TXT – Get Free Report) announced its quarterly earnings results on Thursday. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08), Briefing.com reports. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Textron updated its FY 2024 guidance to 6.200-6.400 EPS.
Textron Price Performance
Shares of TXT traded up $1.94 during trading hours on Friday, hitting $86.84. 1,594,342 shares of the company were exchanged, compared to its average volume of 1,206,649. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.48 and a beta of 1.30. The firm’s fifty day moving average is $92.09 and its 200 day moving average is $83.81. Textron has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50.
Textron Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s dividend payout ratio (DPR) is currently 1.75%.
Wall Street Analyst Weigh In
View Our Latest Research Report on TXT
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.
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