31.30 +0.28 (0.91%)
After hours: 4:26PM EDT
|Bid||31.17 x 1300|
|Ask||31.12 x 800|
|Day's Range||30.65 - 32.13|
|52 Week Range||20.26 - 54.24|
|Beta (5Y Monthly)||1.61|
|PE Ratio (TTM)||10.45|
|Forward Dividend & Yield||0.08 (0.25%)|
|Ex-Dividend Date||Jun 11, 2020|
|1y Target Est||N/A|
Textron investors haven't had much to smile about so far in 2020, but the stock in recent sessions has started to gain back some of what was lost during the COVID-19 pandemic sell-off. Textron had been an underperformer long before the pandemic, but COVID-19 and the outbreak's impact on the economy threatened to further delay the company's hopes for a turnaround. Textron is an industrial conglomerate involved in manufacturing a range of products from helicopters to golf carts to snowmobiles to business jets.
Scott Donnelly became the CEO of Textron Inc. (NYSE:TXT) in 2009. This report will, first, examine the CEO...
Industrial companies are doing particularly well, with shares of N95 mask-maker 3M (NYSE: MMM) up 6.2%, construction company MasTec (NYSE: MTZ) rising 10.3%, and aerospace concern Textron (NYSE: TXT) doing best of all -- up 11.2%! It almost goes without saying these days that these stock price gains are not tied to anything specific to the companies whose stocks are enjoying the gains.
Textron is hardly the only industrial company that saw its first-quarter results pressured due to the COVID-19 pandemic, and it's important not to dwell too much on this one quarterly snapshot. Here is a look at the good and the bad surrounding Textron following its first-quarter report. Digging into the numbers, the industrial conglomerate's Bell helicopter unit posted strong sales of $823 million, up 11% year over year, with better-than-expected 14% operating margins.
The U.S. State Department has approved a possible sale to the Philippines of one of two attack helicopter variants, the Defense Security Cooperation Agency said on Thursday in an official notification to the U.S. Congress. The State Department said that the Philippines is considering either the AH-1Z or the AH-64E to modernize its attack helicopter capabilities.
Shares of Textron (NYSE: TXT) fell 10% on Thursday morning after the industrial conglomerate reported first-quarter results that came in well short of expectations. Investors knew the COVID-19 pandemic would significantly affect operations, but that impact was even more severe than imagined. On Thursday morning, Textron reported first-quarter adjusted earnings of $0.35 per share on revenue of $2.78 billion, short of the analyst consensus for $0.47 per share in earnings on revenue of $3 billion.
Textron (TXT) delivered earnings and revenue surprises of -23.91% and -4.03%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
While much remains to be seen, a group of experts said this week that could mean a softer landing for the industry in Wichita than what followed the 2008 financial collapse. “They might get off a little better (this time),” Teal Group aviation analyst Richard Aboulafia said of local stakeholders. Aboulafia was part of a digital panel discussion held this week by Aviation Week network that also included Molly McMillin, editor-in-chief of The Weekly of Business Aviation, and Michael Bruno, senior business editor for the Aviation Week Network.
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.
Textron's next generation LCAC vehicles are designed to function in extreme conditions, from Arctic cold to Sahara heat, on missions ranging from transporting cargo to minesweeping
Reporters Daniel McCoy and Shelby Reynolds, and Associate Editor Kirk Seminoff, discuss the pandemic's impact on aerospace, manufacturing and commercial and residential real estate, and the federal loan programs making relief money available.
Textron Inc. said Friday that it will delay the release of its first-quarter earnings report by about a week, citing the disruptions caused by the COVID-19 pandemic on its workforce. The aviation, defense and industrial company said it will now report results on April 30, versus the original schedule of April 22. The Securities and Exchange Commission said last month that it was extending the deadline for companies to provide certain disclosure reports by 45 days, but none of the Dow Jones Industrial Average components that responded to a survey conducted by MarketWatch said they would delay reporting results. Textron's stock has lost 33.5% over the past three years, while the Dow has declined 17.7%.
Bombardier is taking early steps to revive assembly of its most lucrative business jets after production was halted for weeks because of the coronavirus outbreak, even as the pandemic risks sapping demand for corporate aircraft. Bombardier will bring some employees back to its Toronto plant on Monday for pre-flight activities to support the resumption of operations there on April 27, company spokeswoman Anna Cristofaro said by email. "Bombardier continues to take the necessary steps and precautions to safeguard the health of all its employees, and we remain in close contact with public health officials," Cristofaro said.
A 364-day term loan credit agreement strengthens cash position as full impact of COVID-19 "has not yet been ascertained."
“This should be considered a matter of national security and there is no time to waste," implores local union president.
As major North Texas manufacturing plants close amid the COVID-19 outbreak, the region's largest subset of manufacturers is continuing to pump out product. Dallas-Fort Worth is rife with defense contractors making everything from fighter jets to sophisticated sensor systems, and all contacted by the Dallas Business Journal for this story said production in their local facilities is continuing even as different government entities pass "shelter-in-place" orders for residents. "Airbus Helicopters Inc. is classified as an "essential business" as we provide critical products and services to or on behalf of the U.S. Army, U.S. Customs and Border Protection, the U.S. Coast Guard, state and local law enforcement agencies, emergency air medical service providers, and electrical power companies," said Airbus Helicopters Inc. spokesperson Erin Callender.