Textron (NYSE:TXT - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $5.40-$5.60 for the period, compared to the consensus EPS estimate of $6.12. Textron also updated its FY 2024 guidance to 5.400-5.600 EPS.
Textron Trading Down 6.2 %
NYSE TXT traded down $5.38 during trading on Thursday, hitting $81.49. 3,043,459 shares of the company's stock traded hands, compared to its average volume of 1,074,547. 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 has a 12-month low of $74.13 and a 12-month high of $97.33. The stock has a fifty day moving average of $87.94 and a two-hundred day moving average of $88.23. The firm has a market cap of $15.27 billion, a P/E ratio of 17.20, a PEG ratio of 1.43 and a beta of 1.23.
Textron Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron's payout ratio is 1.69%.
Analysts Set New Price Targets
A number of brokerages have weighed in on TXT. Morgan Stanley downgraded shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, October 14th. StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. UBS Group boosted their price objective on Textron from $84.00 to $87.00 and gave the company a "sell" rating in a research report on Friday, July 19th. Finally, Bank of America raised their target price on shares of Textron from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $102.75.
View Our Latest Analysis on TXT
About Textron
(
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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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