Textron Inc

TXT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$37.00	Psjw	Qhfsdmd

Textron Continues to Benefit From a Robust Private Aviation Market

Burkett Huey

Jul 28, 2022

No-moat-rated Textron posted slightly negative revenue growth due to unfavorable lumpiness in the military aftermarket at Bell offsetting solid top-line growth in aviation. Sales of $3.2 billion missed FactSet consensus by 2.1%, but earnings per share of $1.00 beat these estimates by 13.3%. We are increasing our fair value estimate for Textron to $53 per share from $51 due to the time value of money and as we slightly increase our medium-term cash flow targets.

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