Research Analysts Set Expectations for Textron Q3 Earnings

Textron Inc. (NYSE:TXT) – Equities researchers at Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for shares of Textron in a research report issued to clients and investors on Friday, October 18th. Zacks Research analyst R. Department now forecasts that the aerospace company will post earnings per share of $1.47 for the quarter, down from their prior forecast of $1.54. The consensus estimate for Textron’s current full-year earnings is $6.10 per share. Zacks Research also issued estimates for Textron’s Q4 2024 earnings at $2.02 EPS, FY2024 earnings at $6.24 EPS, Q1 2025 earnings at $1.48 EPS, Q2 2025 earnings at $1.44 EPS, Q4 2025 earnings at $2.25 EPS, Q2 2026 earnings at $1.61 EPS and FY2026 earnings at $7.45 EPS.

A number of other analysts have also recently weighed in on the stock. Bank of America boosted their price objective on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and decreased their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley lowered 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $102.75.

Textron Price Performance

NYSE TXT opened at $89.39 on Monday. The firm has a market cap of $16.75 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.47 and a beta of 1.23. The stock’s 50-day moving average is $87.80 and its two-hundred day moving average is $88.35. Textron has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $0.02 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.69%.

Institutional Trading of Textron

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wedge Capital Management L L P NC bought a new stake in Textron in the 2nd quarter valued at $64,319,000. Canada Pension Plan Investment Board increased its stake in Textron by 1,611.9% in the first quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock valued at $41,547,000 after acquiring an additional 407,800 shares during the period. LSV Asset Management increased its stake in Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after acquiring an additional 260,003 shares during the period. Brandes Investment Partners LP raised its position in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after purchasing an additional 258,778 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Textron by 206.7% during the first quarter. BNP Paribas Financial Markets now owns 352,868 shares of the aerospace company’s stock worth $33,851,000 after purchasing an additional 237,817 shares during the period. 86.03% of the stock is currently owned by institutional investors.

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.