) was awarded a $113.4 million firm-fixed-price contract. The
award will provide for the procurement of Mobile Strike Force
vehicles to support the Afghanistan National Security Forces.
This contract is in support of Foreign Military Sales for
Afghanistan. Work will be performed in New Orleans, with an
estimated completion date of Feb 28, 2014. The U.S. Army
Contracting Command, Warren, Michigan, is the contracting
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TEXTRON INC (TXT): Free Stock Analysis Report
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We believe Textron should do well in its commercial aerospace
businesses with the gradual recovery in the economy. The
improving fundamentals in the commercial aerospace industry
should bode well for Textron's Cessna jets and Bell Helicopter
businesses going forward. Cessna's fortunes will improve mainly
through high demand for light cabin business jets. Also, in the
near term, Bell's growth will be guided by a judicious mix of
military and commercial business from the V-22 Osprey and H-1
helicopters. Textron Systems will also see growth coming from
government's focus on UAVs (unmanned aerial vehicles) and ASVs
(armored security vehicles).
Also, Textron's geographically diverse network of aircraft,
defense & intelligence, industrial and finance businesses
negates any specific business risk. The company is known around
the world for its most recognizable and valuable brand names,
such as Bell Helicopter, Cessna Aircraft Company, Jacobsen,
Kautex, Lycoming, E-Z-GO and Greenlee. The company has a strong
presence in diverse areas of business jets and other general
aviation aircraft, helicopter, aircraft engines, golf carts, turf
maintenance equipment, electronic test equipment and blow-molded
fuel tanks. Textron continues to enjoy a strong backlog at its
Textron's balance sheet remains stable with a long-term
debt-to-capitalization of 50.9% at the end of Dec 2012 versus the
Zacks Industry Average of 64.9%. The company also ended the full
year 2012 with cash holdings of $1.4 billion, which, along with
its receivables liquidation expected to come through, would be
enough to keep the liquidity profile of the company in good
shape. Textron's balance sheet also improved, shedding $547
million of long-term debt in the twelve-month period with
outstanding debt at approximately $1.8 billion.
Based in Providence, Rhode Island, Textron Inc. is a global
multi-industry company that manufactures aircraft, automotive
engine components and industrial tools. The stock currently has a
Zacks Rank #3 (Hold). The company's competitors worth considering
at this moment are
China Merchants Holdings Company Limited
Jardine Strategic Holdings Ltd.
Koninklijke KPN N.V.
); all of them carry a Zacks Rank #1 (Strong Buy).