Textron (NYSE:TXT) Updates FY24 Earnings Guidance

Textron (NYSE:TXT) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $5.40-$5.60 for the period, compared to the consensus earnings per share estimate of $6.12. Textron also updated its FY 2024 guidance to 5.400-5.600 EPS.

Textron Stock Down 6.2 %

Textron stock opened at $81.50 on Thursday. The firm has a 50 day moving average price of $87.94 and a two-hundred day moving average price of $88.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron has a 52-week low of $74.13 and a 52-week high of $97.33. The firm has a market cap of $15.27 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.43 and a beta of 1.23.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s payout ratio is 1.69%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. UBS Group lifted their price objective on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Finally, StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $102.75.

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.