Textron (NYSE:TXT) Updates FY 2024 Earnings Guidance

Textron (NYSE:TXT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.400-5.600 for the period, compared to the consensus estimate of 6.110. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TXT shares. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Citigroup upped their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Bank of America lifted their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $102.75.

Textron Trading Down 0.8 %

NYSE:TXT opened at $86.84 on Thursday. Textron has a 12 month low of $74.13 and a 12 month 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 firm’s 50 day moving average is $87.94 and its 200 day moving average is $88.23. The stock has a market capitalization of $16.27 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s payout ratio is presently 1.69%.

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.