Textron (NYSE:TXT – Get Free Report) announced its quarterly earnings results on Thursday. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08), Briefing.com reports. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. Textron’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Textron updated its FY 2024 guidance to 6.200-6.400 EPS.
Textron Stock Up 2.3 %
Shares of TXT stock traded up $1.94 during trading hours on Friday, hitting $86.84. 1,594,342 shares of the company were exchanged, compared to its average volume of 1,206,649. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.48 and a beta of 1.30. The business’s 50-day simple moving average is $92.09 and its two-hundred day simple moving average is $83.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. Textron has a one year low of $61.27 and a one year high of $97.33.
Textron Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.02 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.75%.
Analysts Set New Price Targets
Read Our Latest Analysis on TXT
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.
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