Revenue Update on Textron(NYSE:TXT)

Textron(NYSE:TXT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 22, 2016. Company reported revenue of $3.51B. Analysts estimated a revenue of $3.37B. Earnings per share were $0.66. Analysts had estimated an EPS of $0.64.

In a different note, Morgan Stanley said it Initiates Coverage on Textron, according to a research note issued on Jun 23, 2016. The shares have been rated ‘Underweight’ by the firm.

Textron (TXT) shares turned negative on Thursdays trading session with the shares closing down -0.07 points or -0.18% at a volume of 9,83,567. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.29. The peak price level was also seen at $39.29 while the days lowest was $38.82. Finally the shares closed at $39.2. The 52-week high of the shares is $44.45 while the 52-week low is $30.685. According to the latest information available, the market cap of the company is $10,538 M.

Several Insider Transactions has been reported to the SEC. On Nov 4, 2015, Cheryl H Johnson (Executive VP, Human Resources) sold 2,121 shares at $42.37 per share price.

Textron Inc. is a multi-industry company engaged in aircraft defense industrial and finance businesses to provide customers with products and services worldwide. It operates in five segments: Textron Aviation Bell Textron Systems Industrial and Finance. Textron Aviation manufactures sells and services Beechcraft and Cessna aircraft and services the Hawker brand of business jets. Bell Helicopter is a supplier of military and commercial helicopters tiltrotor aircraft and related spare parts and services in the world. Textron Systems’ product lines consist of unmanned aircraft systems marine and land systems weapons and sensors simulation training and other defense and aviation mission support products and services. The Industrial segment designs and manufactures a range of products under three principal product lines. The Finance segment provides financing primarily to purchasers of new and pre-owned Textron Aviation aircraft and Bell helicopters.

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