# Textron Inc. (TXT)

> Source: Nexqual · https://nexqual.com/TXT · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Textron Inc. (TXT), nexqual.com/TXT" · informational, not investment advice.

**Price:** USD 78.04 (+0.98% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 77.28 · day 76.71–78.29 · 52w 71.87–101.57 · market cap $13.4B · NYQ

## Key facts
- Last four reported quarters (through Jul 4, 2026): revenue $15.3B, net income $937M (6.1% margin), free cash flow $759M (SEC filings).
- Valuation: P/E 14.3x (avg 17.5x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $234K; 1 not under a Rule 10b5-1 plan ($234K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $989K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.50 on a 1–5 scale) (16 analysts), mean target USD 99.47 (range 86–115).
- Total return with dividends: 1Y -1.7% vs S&P 500 +14.9%; 5Y +5.1% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 1.44, revenue estimate $3.77B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $12.4B | $12.9B | $13.7B | $13.7B | $14.8B | $15.3B |
| Net income | $746M | $861M | $921M | $824M | $921M | $937M |
| EPS (diluted) | $3.30 | $4.01 | $4.56 | $4.33 | $5.11 | — |
| Free cash flow | $1.22B | $1.13B | $864M | $650M | $929M | $759M |
| Net margin | 6.0% | 6.7% | 6.7% | 6.0% | 6.2% | 6.1% |
| Revenue growth | +6.3% | +3.9% | +6.3% | +0.1% | +8.0% | — |
| Cash + short-term investments | $2.12B | $2.04B | $2.18B | $1.44B | $2.02B | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 4, 2026)
P/E 14.3x · P/S 0.9x · P/FCF 17.7x · P/B 1.7x · FCF yield 5.65% · Earnings yield 6.98% · Dividend yield (paid, TTM) 0.13% · Buyback yield (TTM) 5.74%
P/E at fiscal year-ends: Jan 2026 17.2x, Dec 2024 17.7x, Dec 2023 17.6x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-06 | Clark R Kerry | Director | 2,517 | $234K | 22.6% | No | Too little history (no open-market trades in 2024 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $989K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-05-01 | Kennedy Thomas A | Director | 10,300 | $989K | 95.98 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Hold (mean 2.50 on a 1–5 scale), 16 analysts; mean target USD 99.47 (low 86, high 115).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Morgan Stanley | Target lowered | Equal-Weight | $98 → $86 |
| 2026-10-09 | TD Cowen | Target lowered | Buy | $105 → $100 |
| 2026-10-07 | Citigroup | Target lowered | Neutral | $99 → $86 |
| 2026-07-13 | TD Cowen | Target lowered | Hold | $115 → $105 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -1.7% | +5.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -1.7% | +1.0% |
| Volatility (annualized) | 26.5% | 26.0% |
| Max drawdown | -27.5% (Feb 2026→Oct 2026) | -37.1% (Apr 2024→Mar 2025) |

## Peers (Aerospace & Defense)
EMBJ (Embraer S.A.) USD 69.21 -5.06% · BWXT (BWX Technologies, Inc.) USD 127.3 -5.78% · FTAI (FTAI Aviation Ltd.) USD 157.5 -3.68% · HII (Huntington Ingalls Industries, ) USD 278.86 +1.79% · MOG-A (Moog Inc.) USD 341.71 -6.96% · CW (Curtiss-Wright Corporation) USD 474.28 -4.03%

## More
Full page: https://nexqual.com/TXT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name TXT in their own reports (relationship from TXT's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| customer | Hayward Holdings, Inc. (HAYW) | 10-K 2026-02-25 | "Textron's Industrial Segment is composed of Textron Specialized Vehicles, Inc. ("Textron Specialized Vehicles"), a leading global manufacturer of purpose-built vehicles and equipment for a variety of …" |

## Revenue by business segment (quarter ended 2026-07-04)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Textron Aviation | $1.54B | 40.3% | +1.4% |
| Bell | $1.07B | 28.1% | +5.7% |
| Industrial | $848.0M | 22.2% | +1.1% |
| Textron Systems | $347.0M | 9.1% | +7.1% |
| Finance | $14.0M | 0.4% | -6.7% |
| Total revenue | $3.83B | 100% | — |

## Revenue by product line (quarter ended 2026-07-04)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Aircraft | $1.03B | 27.0% | +1.7% |
| Military Aircraft & Support Programs | $695.0M | 18.2% | +7.3% |
| Aftermarket Parts & Services | $512.0M | 13.4% | +1.0% |
| Fuel Systems & Functional Components | $500.0M | 13.1% | +3.5% |
| Commercial Helicopters Parts & Services | $379.0M | 9.9% | +3.0% |
| Specialized Vehicles | $348.0M | 9.1% | -2.2% |
| Total revenue | $3.83B | 100% | — |
The lines above cover 90.6% of total revenue.

## Revenue by region (quarter ended 2026-07-04)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $2.69B | 70.2% | +1.2% |
| Other international | $806.0M | 21.1% | +12.4% |
| Europe | $334.0M | 8.7% | -2.9% |
| Total revenue | $3.83B | 100% | — |

## Company outlook (8-K filed 2026-07-28)

- "Textron reiterated its expectation for full-year 2026 GAAP earnings per share from continuing operations to be in the range of $5.39 to $5.59, or $6.40 to $6.60 on an adjusted basis, which is reconciled to GAAP in an attachment to this release."
- "The company's current full year outlook assumes receipt of additional fiscal year 2026 funding on the MV-75 Cheyenne program through an Above Threshold Reprogramming request."
- "Absent the receipt of any additional funding and inclusive of other outlook assumptions, our adjusted EPS could be negatively impacted by $0.20 to $0.30 and cash flow could also be negatively impacted by $150 million to $250 million."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.44 | $1.65 | -12.5% | $3.77B | 14 |
| Next quarter (ends 2026-12-31) | $1.94 | $1.86 | +4.1% | $4.28B | 13 |
| Current fiscal year (ends 2026-12-31) | $6.47 | $6.51 | -0.6% | $15.58B | 15 |
| Next fiscal year (ends 2027-12-31) | $7.22 | $7.28 | -0.8% | $16.22B | 15 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-29): ±7.9%; last 8 reports averaged ±5.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 35.2% | ±7.9% |
| 2026-12-18 | 56 | 32.8% | ±10.3% |
| 2027-03-19 | 147 | 27.9% | ±14.0% |
| 2027-05-21 | 210 | 30.3% | ±18.2% |
| 2027-06-17 | 237 | 30.2% | ±19.4% |