TXT - Textron: A Post-Earnings Plunge Is My Buying Opportunity
2024-04-29 03:46:10 ET
Summary
- Textron is a conglomerate involved in defense, aviation, industrial products, and more.
- TXT stock plunged by about 10% after the company reported Q1 results for 2024, presenting a buying opportunity.
- Textron's Q1 earnings slightly missed expectations, but the company completed $317 million in share buybacks and has strong earnings estimates for the future.
Textron Inc. (TXT) is a conglomerate, leading in defense, aviation, industrial products and more. This company owns several well-known brands such as Bell, and Cessna, which can be seen below. Textron makes everything from planes to golf carts, to helicopters to snowmobiles. I have followed this company off and on for years, and what brought me to take another look just now is because the stock plunged by about 10%, after the company reported Q1 results for 2024. I think the stock is likely to rebound after this selloff and view this as a solid buying opportunity. Let's take a closer look:
Textron: A Post-Earnings Plunge Is My Buying Opportunity