Zacks: Analysts Anticipate Textron Inc. (NYSE:TXT) Will Announce Quarterly Sales of $3.40 Billion
Analysts expect Textron Inc. (NYSE:TXT) to announce $3.40 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Textron’s earnings. The highest sales estimate is $3.51 billion and the lowest is $3.32 billion. Textron reported sales of $3.20 billion during the same quarter last year, which indicates a positive year over year growth rate of 6.3%. The company is scheduled to report its next quarterly earnings report on Thursday, October 17th.
According to Zacks, analysts expect that Textron will report full-year sales of $13.65 billion for the current fiscal year, with estimates ranging from $13.58 billion to $13.78 billion. For the next financial year, analysts anticipate that the firm will report sales of $14.29 billion, with estimates ranging from $14.17 billion to $14.43 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Textron.
Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. Textron had a net margin of 9.07% and a return on equity of 15.55%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, September 12th. Textron’s dividend payout ratio is presently 2.40%.
Several large investors have recently made changes to their positions in TXT. Primecap Management Co. CA boosted its holdings in shares of Textron by 2.3% in the first quarter. Primecap Management Co. CA now owns 5,292,360 shares of the aerospace company’s stock valued at $268,111,000 after acquiring an additional 116,746 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Textron by 6.0% in the first quarter. Victory Capital Management Inc. now owns 4,674,137 shares of the aerospace company’s stock valued at $236,791,000 after acquiring an additional 264,230 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Textron by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,565,875 shares of the aerospace company’s stock valued at $163,995,000 after acquiring an additional 30,800 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Textron by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 3,144,494 shares of the aerospace company’s stock valued at $144,357,000 after acquiring an additional 131,360 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Textron by 104.9% in the second quarter. LSV Asset Management now owns 2,594,141 shares of the aerospace company’s stock valued at $137,593,000 after acquiring an additional 1,327,922 shares in the last quarter. 84.77% of the stock is owned by institutional investors and hedge funds.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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