Textron (NYSE:TXT – Get Free Report) released its earnings results on Thursday. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.06), Briefing.com reports. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. Textron updated its FY 2024 guidance to 5.400-5.600 EPS and its FY24 guidance to $5.40-$5.60 EPS.
Textron Price Performance
Textron stock traded up $0.78 during trading hours on Friday, hitting $82.27. 604,858 shares of the stock were exchanged, compared to its average volume of 1,072,284. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The stock has a market capitalization of $15.41 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.43 and a beta of 1.23. Textron has a 12 month low of $74.13 and a 12 month high of $97.33. The business’s 50-day moving average is $87.81 and its two-hundred day moving average is $88.19.
Textron Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio is 1.69%.
Analysts Set New Price Targets
Read Our Latest Analysis on Textron
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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