Welcome to our dedicated page for Textron news (Ticker: TXT), a resource for investors and traders seeking the latest updates and insights on Textron stock.
Textron Inc. (NYSE: TXT) is a multi-industry company leveraging its global network across various sectors, including aircraft, defense, industrial, and finance businesses, to provide innovative solutions and services. Known globally for its powerful brands, Textron encompasses names such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems.
Textron designs, manufactures, and services an array of specialty aircraft, including small jets, propeller-driven airplanes, helicopters, and tilt-rotor aircraft. The firm's aviation segment is renowned for producing and servicing Cessna and Beechcraft planes. Additionally, Bell Helicopter serves both commercial and military customers with its sophisticated helicopters and tilt-rotor aircraft.
In the defense sector, Textron Systems stands out for its production of uncrewed aircraft and armored vehicles, catering primarily to the military market. The company also excels in aircraft simulators and training for both commercial and military purposes. Furthermore, the industrial segment, featuring the Kautex business, manufactures plastic fuel tanks for conventional and hybrid motor vehicles, alongside subsidiaries that produce specialized vehicles such as golf carts, snowmobiles, and all-terrain vehicles.
One of Textron's most notable recent developments involves a collaboration with Kodiak Robotics, Inc., a leading self-driving technology developer. Together, they aim to create an autonomous military ground vehicle specifically designed for driverless operations. By integrating Kodiak's advanced autonomous system, the Kodiak Driver, into Textron Systems' uncrewed military vehicle prototype, this partnership signifies a major advancement in autonomous technology for military applications.
Textron Systems boasts over three decades of expertise in developing uncrewed land, air, and sea systems, making significant contributions to various military programs. This partnership with Kodiak is expected to bring cutting-edge AI-powered, autonomous technologies to military customers worldwide, enhancing the functionality, adaptability, and reliability of their technologies.
Textron's dedication to innovation and excellence is further evidenced by its continuous efforts in research and development, aiming to stay ahead in introducing new products and enhancing existing ones. The company's commitment to providing advanced solutions to support defense, aerospace, and other customer missions underscores its position as a leader in multiple industries.
For more detailed information and career opportunities, visit Textron's official website.
The Board of Directors of Textron (NYSE:TXT) has declared a quarterly dividend of $0.02 per share on its Common Stock. The dividends will be disbursed on October 1, 2021 to shareholders on record as of the close of business on September 10, 2021.
Textron operates across various industries, utilizing its global network to deliver innovative solutions, and features well-known brands including Bell, Cessna, and E-Z-GO.
Textron Aviation announced the realignment of its turboprop lineup, introducing the single-engine Beechcraft Denali alongside the twin-engine Beechcraft King Air 260 and King Air 360/360ER. The Denali is set for its first flight later this year, boasting enhanced capabilities, a large cabin, and projected lower operating costs. Key features include a Garmin G3000 avionics suite, a range of 1,600 nautical miles, and a fuel-efficient GE Aviation Catalyst engine. The Denali's development is progressing well, with certification anticipated in 2023.
Textron Aviation announced a purchase agreement with Surf Air Mobility for up to 150 Cessna Grand Caravan EX aircraft, including an initial order of 100. This partnership aims to develop hybrid electric aircraft utilizing Surf Air's proprietary technology, marking a significant push towards electrified regional air travel. Deliveries are expected to commence in Q2 2022, subject to financing and certification. This collaboration highlights the adaptability of the Grand Caravan in passenger and cargo operations, aligning with sustainability goals in aviation.
Surf Air Mobility announced a partnership with Textron Aviation to develop hybrid electric Cessna Grand Caravan aircraft, beginning with an order of up to 150 units. The initial order includes 100 aircraft, expected to debut in 2024, aimed at reducing operating costs and emissions by 25%. This innovative aircraft promotes efficient regional travel while connecting more airports across the U.S. The agreement entails joint marketing efforts to facilitate broader adoption of electrified air travel.
Textron Aviation announced the certification of its flagship Cessna Citation Longitude super-midsize business jet by the European Aviation Safety Agency (EASA). This certification enables customer deliveries in Europe to commence. The Longitude offers class-leading comfort, low operating costs, and features such as a spacious, quiet cabin and advanced connectivity. It has a range of 6,482 kilometers and can accommodate up to 12 passengers. The aircraft's versatility allows it to be used for various missions, including air ambulance services. Textron Aviation supports the Longitude with a global customer service network.
Textron Inc. (NYSE: TXT) will announce its second quarter 2021 financial results on July 29, 2021. Following the release, a conference call is scheduled for 8:00 a.m. (Eastern) to discuss the financial results and provide an outlook for the company. The call will be accessible via webcast on Textron's website or by dialing specific numbers for U.S. and international participants. A recorded playback will be available after the call at 11:00 a.m. (Eastern) on the same day.
E-Z-GO will provide eight customized RXV ELiTE golf cars for Capital One's The Match on July 6, 2021. The event features Phil Mickelson, Tom Brady, Bryson DeChambeau, and Aaron Rodgers, taking place at Moonlight Basin in Big Sky, Montana. Proceeds from the auction of the golf cars will support charities, including Feeding America. E-Z-GO, a Textron company, highlights its commitment to sustainable technology with the ELiTE series, which features lithium battery technology and an 8-year warranty.
Peyton Manning has joined Textron Aviation as the honorary chair for the 2022 Special Olympics Airlift, encouraging aircraft owners to participate in transporting over 4,000 athletes and coaches to Orlando, Florida. The Airlift, set for June 4-12, 2022, aims to recruit over 200 aircraft owners to donate their aircraft and services. Since its inception in 1987, the Airlift has transported nearly 10,000 athletes and coaches. Textron Aviation's support demonstrates its commitment to the Special Olympics and fostering community engagement.
Textron reported a first quarter 2021 net income of $0.75 per share, with adjusted net income at $0.70, up from $0.35 a year ago. Revenues increased due to higher volumes in Industrial and Bell, alongside solid margins. Cash flow from operations was $107 million, a significant improvement from a $393 million outflow the previous year. Textron forecasts 2021 EPS between $2.76 and $3.00, raising its outlook by $0.10. Segment performances show a mixed bag, with Textron Aviation reporting lower revenues but improved profits, while Bell faced challenges with military revenues.
The Board of Directors of Textron declared a quarterly dividend of $0.02 per share on its Common Stock. This dividend will be paid on July 1, 2021, to shareholders on record as of the close of business on June 11, 2021. Textron operates across multiple industries, leveraging its global network to deliver innovative solutions through renowned brands such as Bell, Cessna, and Beechcraft.
FAQ
What is the current stock price of Textron (TXT)?
What is the market cap of Textron (TXT)?
What are Textron Inc.'s main business segments?
What are some of the brands under Textron Inc.?
What types of aircraft does Textron manufacture?
Who are Textron's main customers?
What is the significance of Textron's collaboration with Kodiak Robotics?
How long has Textron Systems been involved in uncrewed vehicle development?
Where can I find more information about Textron's career opportunities?
Does Textron offer training and simulation services?
What is Kautex's role within Textron?
How does Textron contribute to national security?
