|Bid||47.78 x 1000|
|Ask||47.80 x 800|
|Day's Range||47.41 - 48.76|
|52 Week Range||43.27 - 72.87|
|Beta (3Y Monthly)||1.89|
|PE Ratio (TTM)||9.51|
|Earnings Date||Oct 16, 2019 - Oct 21, 2019|
|Forward Dividend & Yield||0.08 (0.16%)|
|1y Target Est||62.08|
Lockheed Martin's (LMT) second-quarter 2019 results are likely to benefit from the company's improved segment operating profit and solid revenue growth trends.
(Bloomberg Opinion) -- Even investor darling Honeywell International Inc. isn’t immune to the slowdown taking place in manufacturing.The maker of jet engines and air-conditioner controls reported second-quarter earnings on Thursday that beat analysts’ estimates, but sales in the period were weaker than expected, both including and excluding the impact of M&A and currency swings. The 5% organic revenue growth Honeywell notched in the second quarter was a step down from both the year-earlier period and the aggressive 8% pace set in the first quarter. While the company raised its 2019 organic sales growth target to a range of 4% from 6%, its third-quarter forecast for 2% to 4% expansion was weaker than RBC analyst Deane Dray had been expecting. An increased full-year earnings outlook was also less robust than analysts had been anticipating.Don’t get me wrong: this was still a very strong earnings performance from Honeywell. The company’s aerospace division remains a standout, with 11% organic growth in the period. Notably, Honeywell had double-digit growth in new equipment for business jets. That’s an interesting contrast to the weak aviation revenue and $100 million slide in backlog at Textron Inc. in the second quarter, which the company blamed on business-jet customers becoming jittery about macroeconomic conditions. And Honeywell does have a habit of under-promising on guidance so that it can over-deliver down the road.But this feels different than merely keeping the bar low and beatable. There's good reason to be cautious in this environment. Honeywell cited uncertainty in markets with shorter sales cycles, inventory pile-ups in some sectors and macro-economic concerns including tariffs and Brexit, and it appears to already be digging around in its toolkit for ways to weather a downturn. Concerns that cooling demand is becoming more marked than investors had appreciated took on a new gravity this week after East Coast railroad CSX Corp. reversed its call for sales growth this year and predicted as much as a 2% decline instead. Honeywell’s showing wasn’t nearly strong enough to buck the general feeling of unease.In other earnings news, Dover Corp. also reported second-quarter results on Thursday and followed a pattern similar to Honeywell: earnings per share beat analysts’ estimates and the company raised its full-year guidance, but overall sales in the period were a disappointment and Dover left its revenue outlook unchanged. This pattern of earnings beat/sales miss adds some early credence to industrial companies’ contention that years of cost-cuts and spin-offs have put them in a better position to weather an economic downturn. Dover last year spun off its Apergy Corp. energy business, while Honeywell carved its turbochargers and consumer-facing home technologies businesses into separate companies. In its earnings presentation, Honeywell said its relatively unburdened balance sheet and improved access to overseas cash after the U.S. tax overhaul give it other levers it can pull should a slowdown materialize. In other words, it’s waving the white flag of share buybacks.I’m not entirely convinced that all these breakups have made industrial companies recession-proof. Yes, they’ve become less cyclical, but that has risks as well. Either way, without sales, you can’t have profit. Gordon Haskett analyst John Inch has warned margin deterioration could be an underappreciated risk in the event of a mild industrial downturn. The severity of the 2008 financial crisis meant that few companies cut their prices because there was such low demand it wouldn’t have made much of a difference, he writes. But in a more moderate slowdown, industrial companies are more apt to use price cuts to drive sales, undermining their margins in the process. Honeywell is still likely one of the safest places for investors to ride out a slowdown. But before the gloomy CSX report dragged down the whole industrial sector, Honeywell was enjoying its best start to the year since 2007. The run-up in its shares leaves the company priced for perfection – and investors priced for disappointment should that perfection prove out of reach.To contact the author of this story: Brooke Sutherland at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Development of the Hemisphere had previously been paused at Textron Aviation in Wichita while waiting on potential fixes from its engine supplier.
Textron beat Wall Street earnings estimates and raised full-year earnings guidance. So why is the stock down 5%? Sales were much weaker than expected.
Textron (TXT) second-quarter 2019 earnings from continuing operations increase year over year. However, revenues decline from the year-ago figure.
Textron (TXT) delivered earnings and revenue surprises of 9.41% and -3.94%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
PROVIDENCE, R.I.-- -- EPS of $0.93, up 7% from a year ago Operating margin of 10.5%, up from 9.3% a year ago $159 million returned to shareholders through share repurchases Full-year EPS guidance raised to $3.65 - $3.85 per share, up $0.10 Textron Inc. today reported second quarter 2019 net income of $0.93 per share, compared to $0.87 per share in the second quarter of 2018. “Operationally, we continued ...
NEW YORK, NY / ACCESSWIRE / July 17, 2019 / Textron, Inc. (NYSE: TXT ) will be discussing their earnings results in their 2019 Second Quarter Earnings to be held on July 17, 2019 at 8:00 AM Eastern Time. ...
Aerospace and defense stocks have outpaced the market year to date and investors will look for strong earning from contractors over the coming weeks.
There are a number of reasons that attract investors towards large-cap companies such as Textron Inc. (NYSE:TXT), with...
Fast-growing Yingling Aviation is drumming up more work in Wichita, thanks to the recent certification of the Garmin G5000 integrated flight deck on the Citation Excel and XLS business jets. According to a press release from the aviation services company, Yingling has launched a new program to offer those installations to aircraft owners. “We are already taking firm reservations and scheduling installations three months in advance,” Stuart Ashenden, manager of Yingling’s avionics department says in an emailed press release, Garmin and Textron Aviation announced earlier this month that its G5000 had been certified for the Excel and XLS, with Garmin noting that it was entering the market with nearly 50 customer commitments to the upgrade already. The aircraft have a combined global fleet of around 700 aircraft. “The Citation Excel and Citation XLS continue to be two of the most popular business jets in the world,” Kriya Shortt, senior vice president of global customer support for Textron Aviation, said in a July 1 press release.
Textron (TXT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Lockheed (LMT) will design, procure and integrate flight test instrumentation and data processing solutions for F-35 Lightning II development test aircraft.
Textron Inc NYSE:TXTView full report here! Summary * Perception of the company's creditworthiness is negative * Bearish sentiment is low Bearish sentimentShort interest | PositiveShort interest is extremely low for TXT with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting TXT. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $3.71 billion over the last one-month into ETFs that hold TXT are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Industrials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. TXT credit default swap spreads are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.