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Textron Inc. - TXT STOCK NEWS

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.

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Textron Aviation has announced the delivery of its first Cessna SkyCourier twin-engine utility turboprop with a Combi interior conversion to Everts Air, an Alaskan-based operator.

This newly certified option, approved by the FAA in May 2024, allows for the accommodation of both passengers and cargo simultaneously, enhancing the aircraft’s versatility. Everts Air, which operates in Alaska and throughout the Americas, will add this aircraft to its existing fleet, including the SkyCourier freighter variant and six Cessna Caravans.

Textron's senior VP, Lannie O’Bannion, highlighted the aircraft's adaptability for diverse missions and global markets, serving various sectors like government, law enforcement, and commercial operations. The Combi conversion option joins the existing gravel kit and full freighter conversion, providing greater operational flexibility.

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Textron (NYSE: TXT) will release its second quarter 2024 financial results on July 18, 2024, followed by a conference call at 8:00 a.m. Eastern. This event will cover the company's earnings, revenue, and future outlook. The call can be accessed via webcast on Textron's official website or by phone at (844) 867-6169 in the U.S. and (409) 207-6975 internationally using Access Code: 8602005. A recorded playback will be available from 11:00 a.m. Eastern on the same day by dialing (402) 970-0847 with Access Code: 4306608.

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Textron Aviation announced the successful flight of its second Cessna Citation Ascend flight test article (P1). The flight lasted 1 hour and 24 minutes, achieving a maximum altitude of 13,500 feet and a speed of 308 knots. This milestone follows the initial flight of the Ascend prototype in 2023. The Citation Ascend, unveiled at the 2023 European Business Aviation Convention & Exhibition (EBACE), is set to enter service in 2025. The P1 aircraft, which is the first conforming production flight test aircraft, will primarily test systems including propulsion, human factors, environmental control, and avionics. The certification program expects to complete testing with the two test articles and has accumulated over 400 flight hours so far.

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Textron E-Z-GO, a leader in golf cart manufacturing, celebrates its 70th anniversary by establishing National Golf Cart Day on June 13, 2024. The event marks the founding of E-Z-GO in 1954 and is accompanied by nationwide promotions. Celebrations include $500 off all vehicles (with up to $3,400 off on certain promotions), 0% APR for 36 months, 2.99% APR for 48 months, and 35% off select parts and accessories. Purchasers from June 13 to June 15 will enter a drawing for four Universal Orlando tickets and a two-night hotel stay in Orlando. Follow events on Instagram and X with #NationalGolfCartDay.

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Textron Aviation is expanding its operations in Australia by modernizing facilities and boosting parts availability for Cessna, Beechcraft, and Hawker aircraft. The company is moving to larger service centers at Jandakot Airport in Perth and Essendon Fields Airport in Melbourne. The Perth facility aims to enhance capacity and customer service, while the Melbourne expansion will quadruple parts storage space. Additionally, Premiair Aviation Maintenance, acquired in 2020, has been rebranded as Textron Aviation Australia to fully integrate into Textron's global network. The expansions are expected to be operational by mid-2024.

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Textron Aviation has produced its 400th Cessna Citation Latitude midsize business jet, set for delivery later this year. The milestone was celebrated at their Wichita, Kansas headquarters. The Citation Latitude, certified in 2015, has been the top-delivered midsize business jet globally for eight consecutive years. Known for its reliability and 2,700-nautical mile range, it supports diverse operations including corporate, charter, and specialized missions. Innovations in manufacturing, such as automated robotics and precision tooling, ensure high quality and minimal downtime.

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Textron Aviation has announced new Garmin G5000 avionics enhancements for its Cessna Citation Latitude and Citation Longitude jets. These upgrades aim to improve performance and user experience based on customer feedback. The Latitude will receive these enhancements starting in 2025, and the Longitude in 2026. Significant features include the Synthetic Vision Guidance System (SVGS) and improved situational awareness tools, such as 3D building footprints and Taxiway Routing. These upgrades are designed to enhance pilot situational awareness and safety. The Citation Latitude has been the top-delivered midsize business jet for eight years, and the Citation Longitude is known for its pilot and passenger-centric design.

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Textron Aviation announced that the Cessna SkyCourier has received FAA certification for a new Combi interior conversion option. This allows the aircraft to transport nine passengers and cargo simultaneously. Deliveries of the Cessna SkyCourier with the Combi option are expected to begin later this year. The aircraft, known for its versatility and single-pilot operation, is designed to cater to a wide range of missions, including air freight, passenger transport, and special missions. This certification adds another layer of functionality, making it appealing to diverse global markets such as government agencies, law enforcement, corporations, and humanitarian organizations.

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Textron Systems is partnering with Kodiak Robotics to develop an uncrewed military ground vehicle for advanced terrain environments. This vehicle will integrate Kodiak's autonomous driving technology, designed for driverless operations. Kodiak's technology, validated by nearly 3 million miles of real-world operations, will be embedded in a Textron Systems' prototype vehicle. This collaboration marks Kodiak's first integration of its autonomous system into a driverless vehicle, featuring modular DefensePods for easy field swapping. Demonstrations are expected later in 2024, with future explorations in automating military tasks to enhance national security.

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Textron Aviation announced that the Federal Aviation Administration (FAA) has approved supplemental type certification (STC) for an integrated Future Air Navigation System (FANS) and Protected Mode Controller Pilot Data Link Communication (PM-CPDLC) program for Hawker 4000 jets with Honeywell PRIMUS EPIC cockpits. This upgrade enhances pilot-ATC communication and uses the latest data link services in North America and Europe. The technology reduces pilot workload and improves efficiency. The program supports future FAA NextGen Data Com capabilities and offers features such as trajectory-based operations, improved re-routing, and prioritized departure clearances. Installations are available at selected Textron Aviation service facilities.

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FAQ

What are Textron Inc.'s main business segments?

Textron Inc. operates in various segments including aircraft, defense, industrial, and finance.

What are some of the brands under Textron Inc.?

Some notable brands include Bell Helicopter, Cessna, Beechcraft, Jacobsen, Kautex, Lycoming, and E-Z-GO.

What types of aircraft does Textron manufacture?

Textron manufactures small jets, propeller-driven airplanes, helicopters, and tilt-rotor aircraft.

Who are Textron's main customers?

Textron serves both commercial and military customers across its various business segments.

What is the significance of Textron's collaboration with Kodiak Robotics?

The collaboration aims to develop an autonomous military ground vehicle, integrating advanced AI-powered autonomous technology.

How long has Textron Systems been involved in uncrewed vehicle development?

Textron Systems has over three decades of experience in developing uncrewed land, air, and sea systems.

Where can I find more information about Textron's career opportunities?

For career opportunities, visit Textron's official website at www.textron.com/careers.

Does Textron offer training and simulation services?

Yes, Textron Systems provides aircraft simulators and training services for both commercial and military markets.

What is Kautex's role within Textron?

Kautex manufactures plastic fuel tanks for conventional and hybrid motor vehicles and is part of Textron’s industrial segment.

How does Textron contribute to national security?

Textron develops advanced defense technologies, including uncrewed military vehicles, to support military operations and enhance national security.

Textron Inc.

NYSE:TXT

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16.93B
190.70M
0.63%
86.52%
2.47%
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