Textron (TXT) Releases FY 2019 Earnings Guidance

Textron (NYSE:TXT) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.55-3.75 for the period, compared to the Thomson Reuters consensus estimate of $3.68.

Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Textron from a hold rating to a buy rating and set a $60.00 price objective on the stock in a report on Wednesday, February 13th. Cowen reissued a buy rating and issued a $62.00 target price on shares of Textron in a research report on Wednesday, February 27th. TheStreet raised Textron from a c+ rating to a b rating in a research report on Thursday, January 31st. ValuEngine lowered Textron from a hold rating to a sell rating in a research report on Thursday, March 7th. Finally, Credit Suisse Group began coverage on Textron in a research report on Monday, April 1st. They issued a neutral rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $66.08.

NYSE:TXT opened at $52.14 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.11 and a beta of 1.65. Textron has a 1-year low of $43.27 and a 1-year high of $72.87.

Textron (NYSE:TXT) last posted its earnings results on Thursday, January 24th. The aerospace company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.17. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.99 billion. Textron had a net margin of 8.75% and a return on equity of 15.51%. Textron’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.74 EPS. Equities analysts expect that Textron will post 3.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.15%. Textron’s payout ratio is 2.40%.

In related news, CEO Scott C. Donnelly sold 150,226 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $55.04, for a total transaction of $8,268,439.04. Following the sale, the chief executive officer now directly owns 707,495 shares of the company’s stock, valued at approximately $38,940,524.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Frank T. Connor sold 72,732 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $55.17, for a total transaction of $4,012,624.44. Following the sale, the chief financial officer now directly owns 186,456 shares in the company, valued at $10,286,777.52. The disclosure for this sale can be found here. Insiders sold a total of 458,112 shares of company stock worth $25,222,635 over the last quarter. 1.40% of the stock is currently owned by company insiders.

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About Textron

Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.

Further Reading: Cost of Capital Explained

Earnings History and Estimates for Textron (NYSE:TXT)

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