Textron (NYSE:TXT) Releases Earnings Results, Beats Estimates By $0.07 EPS

Textron (NYSE:TXT) posted its quarterly earnings data on Wednesday. The aerospace company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07, RTT News reports. The business had revenue of $3.23 billion during 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%. The company’s revenue was down 13.4% on a year-over-year basis. During the same quarter 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 TXT stock opened at $49.14 on Friday. Textron has a one year low of $43.27 and a one year high of $72.87. The company has a quick ratio of 0.99, a current ratio of 1.93 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average 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 business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.16%. The ex-dividend date was Thursday, June 13th. Textron’s dividend payout ratio (DPR) is 2.40%.

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

A number of hedge funds have recently modified their holdings of the stock. Primecap Management Co. CA increased its position in Textron by 2.3% during the first quarter. Primecap Management Co. CA now owns 5,292,360 shares of the aerospace company’s stock worth $268,111,000 after purchasing an additional 116,746 shares during the last quarter. Victory Capital Management Inc. increased its position in Textron by 6.0% during the first quarter. Victory Capital Management Inc. now owns 4,674,137 shares of the aerospace company’s stock worth $236,791,000 after purchasing an additional 264,230 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 purchasing an additional 30,800 shares during the last quarter. Geode Capital Management LLC increased its position 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 purchasing an additional 131,360 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in Textron by 2.6% during the first quarter. Gamco Investors INC. ET AL now owns 2,467,926 shares of the aerospace company’s stock worth $125,025,000 after purchasing an additional 62,584 shares during the last quarter. 83.98% of the stock is owned by hedge funds and other institutional investors.

Textron Company Profile

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.

Further Reading: Support Level

Earnings History for Textron (NYSE:TXT)

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