Industrials

Accenture (NYSE:ACN) Stock Analyst Ratings

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Accenture (NYSE:ACN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 8.43% Morgan Stanley $369 → $400 Maintains Overweight 12/20/2023 4.36% BMO Capital $350 → $385 Maintains Market Perform 12/20/2023 -1.06% UBS $333 → $365 Maintains Neutral 12/14/2023 -2.41% Wedbush $330 → $360 Maintains Outperform 11/16/2023 11.14% Redburn Atlantic → $410 Initiates Coverage On → Buy 11/07/2023 -9.73% UBS → $333 Initiates Coverage On → Neutral 09/29/2023 -7.83% RBC Capital → $340 Reiterates Outperform → Outperform 09/29/2023 -5.12% BMO Capital $360 → $350 Maintains Market Perform 09/29/2023 -18.68% TD Cowen $312 → $300 Maintains Market Perform 09/29/2023 -12.71% Baird $332 → $322 Maintains Neutral 09/29/2023 -18.68% Piper Sandler $312 → $300 Maintains Neutral 09/27/2023 -2.41% BMO Capital $355 → $360 Maintains Market Perform 09/26/2023 -10.54% Wedbush → $330 Reiterates Outperform → Outperform 09/22/2023 -15.42% Piper Sandler $314 → $312 Maintains Neutral 09/18/2023 […]

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CFRA Keeps Buy Opinion On Shares Of Rtx Corporation

/ / Industrials /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $99, raised by $9, reflects a 16.2x multiple of projected 2025 EPS, in line with RTX’s historical forward average. We cut our 2024 EPS estimate by $0.58 to $5.39 and start 2025’s at $6.12. Q4 EPS of $1.29 vs. $1.27, beat the consensus view by $0.04. Organic sales rose 10%, led by Pratt & Whitney (+4%), as commercial aerospace remains a nice tailwind, both for new orders as well as aftermarket. We still see a few clouds on the horizon on the supply chain front, and we see only modest EPS improvement in 2024 before accelerating earnings in 2025. There are some headwinds at Raytheon, notably on fixed price contracts that have underperformed in a rising cost environment, but we expect these

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CFRA Keeps Hold Opinion On Shares Of Lockheed Martin

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $440, cut $10, reflects 16.2x our 2025 EPS, in line with LMT’s long-term forward average. We trim our 2024 EPS estimate by $1.86 to $26.08 and start 2025’s at $27.15. LMT posted Q4 EPS of $7.90 vs. $7.79, beating consensus by $0.65. Revenues fell 1% year-over-year, as did segment operating profits, with modest revenue declines in Aeronautics, Rotary & Mission Systems, and Missiles & Fire Control, partly offset by higher revenues in Space. LMT sees 2024 revenues in a range of $68.5B to $70.0B and guided for EPS in a range of $25.65 to $26.35. The midpoint of the respective ranges implies low-single-digit revenue growth accompanied by some margin compression because EPS is expected to drop about 7%. Backlog rose $5B, to

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FAA Clears Path for Boeing 737 MAX 9 to Resume Flying — WSJ

/ / Industrials /

By Alison Sider and Andrew Tangel U.S. air-safety regulators said they will permit grounded Boeing 737 MAX 9 jets to resume flying after airlines complete inspections, following a near-catastrophe on an Alaska Airlines flight. The Federal Aviation Administration said late Wednesday that airlines can begin thoroughly inspecting their MAX 9 jets, paving the way for them to resume carrying passengers once those checks have been completed. The regulator ordered airlines to stop flying most 737 MAX 9 jets on Jan. 6, a day after a door plug ripped away from an Alaska Airlines flight shortly after it took off, leaving a gaping hole the size of an emergency exit in the side of the plane. The grounding has disrupted operations for Alaska and United Airlines, two of the largest operators of the MAX 9, and top executives at both airlines voiced frustration with Boeing this week. United said the MAX

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FAA Freezes Boeing MAX Ramp

/ / Industrials /

The FAA’s freeze on Boeing’s planned 737 MAX production increase provides the company with the stark choice of further amassing inventory or reversing its pledge to suppliers to prep for higher output. Boeing had edged monthly output towards 31, with a view to stepping up to 38 and then 42 and beyond. Boeing shares down 4.1% in aftermarket trade, with suppliers trending lower. Spirit AeroSystems off more than 6%.

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3M Issues Downbeat 2024 Earnings Guidance as Fourth-Quarter Revenue Declines

/ / Industrials /

3M (MMM) reported lower fourth-quarter revenue year over year amid softer sales in three of its four business segments while the company’s 2024 earnings outlook fell short of analysts’ estimates at the midpoint of the guidance range. The industrial conglomerate reported sales of $8.01 billion for the three months ended Dec. 31. That’s down from $8.08 billion a year ago but above the average analyst estimate of $7.72 billion on Capital IQ. By segment, sales declined by 2.7% in safety and industrial, by 1.6% in consumer, and marginally in health care. They rose by 1.6% in transformation and electronics. The proposed spinoff of the healthcare business remains on track for the first half of this year, according to 3M. 3M’s shares slumped 11% in Tuesday trade. Adjusted earnings per share rose to $2.42 in the December quarter from $2.18 the year earlier and beat the Street’s view of $2.31. The

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General Electric (GE) Q4 2023 Earnings Call Transcript Summary

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The following is a summary of the General Electric (GE) Q4 2023 Earnings Call Transcript: Financial Performance: GE experienced substantial growth in 2023 with tripled earnings and a 70% increase in free cash flow. Its Aerospace, Renewable Energy, and Power segments exhibited strong financial performance with positive profits and free cash flow. Debt was reduced by over $100 billion and shareholders were returned $7 billion. Q4 orders topped $5 billion, with annual orders reaching $23 billion, a roughly 50% increase. Revenue for Renewable Energy and Power businesses grew in double digits, contributing to overall revenue growth. Profits surpassed $1 billion, with Renewable Energy showing over $100 million growth. Free cash flow however was slightly negative. Business Progress: 2024 saw the launch of GE Aerospace and GE Vernova, with the latter focusing on electrification and decarbonization of the globe. GE Aerospace engine deliveries were up 11% and secured over 450 engine

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Lockheed Martin Shares Fall After Q4 Sales Drop

/ / Industrials /

Lockheed Martin (LMT) shares were down 3.4% in recent Tuesday trading after the company’s Q4 sales fell year-over-year. The company reported Q4 adjusted earnings of $7.90 per diluted share, up from $7.79 a year earlier. Analysts polled by Capital IQ expected $7.25. Net sales for the quarter ended Dec. 31 were $18.87 billion, down from $18.99 billion in the same period in 2022. Analysts surveyed by Capital IQ expected $17.95 billion. The company said it expects 2024 EPS of $25.65 to $26.35 on net sales of $68.50 billion to $70 billion. Analysts expect EPS of $26.37 on revenue of $68.64 billion.

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RTX Shares Rise After Q4 Results Beat Estimates

/ / Industrials /

RTX (RTX) shares were up 5.8% in recent Tuesday trading after the company reported higher-than-expected Q4 results. The company reported Q4 adjusted earnings of $1.29 per diluted share, up from $1.27 a year earlier. Analysts polled by Capital IQ expected $1.25. Net sales for the quarter ended Dec. 31 were $19.93 billion, up from $18.09 billion a year earlier. Analysts surveyed by Capital IQ expected $19.67 billion. The company said it expects 2024 adjusted EPS of $5.25 to $5.40 on sales of $78 billion to $79 billion. Analysts polled by Capital IQ expect normalized EPS of $5 and revenue of $73.28 billion.

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3M Touts New Business Lines; Tepid Guidance Sinks Stock — WSJ

/ / Industrials /

By John Keilman 3M is targeting climate technology, industrial automation and next generation electronics as lucrative new businesses for the materials company as it seeks to push past a wave of costly litigation ( “We’re building on our innovation model,” 3M CEO Mike Roman said in an interview. He called out thermal barriers for electric vehicle batteries as one product line that holds particular promise. Roman talked up 3M’s product development as the Minnesota-based materials company’s growth projections failed to impress investors, who sent the stock plunging more than 11% Tuesday. 3M’s 2024 earnings guidance also came in beneath Wall Street expectations. — Roman said revenue will be hindered in 2024 as 3M exits about 5% of its consumer business in areas where it doesn’t see strong growth prospects. He said that will improve revenue and profit margins in the long term. — 3M, which makes thousands of products from

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RTX Corporation (RTX) Q4 2023 Earnings Call Transcript Summary

/ / Industrials /

The following is a summary of the RTX Corporation (RTX) Q4 2023 Earnings Call Transcript: Financial Performance: RTX Corporation reported an 11% organic growth for 2023, with Q4 adjusted sales standing at $19.8 billion, marking a 10% growth from the previous year. The company commands a hefty backlog of $196 billion, hinting at robust future sales and earnings. Adjusted earnings per share was $1.29, 2% up and slightly better than expectations. Commercial aftermarket was up 23%, commercial OE saw a 20% rise, and defense increased by 4%. The company ended the year with a free cash flow of $5.5 billion, surpassing their commitment. RTX returned over $16 billion of capital to shareholders for the year. Their 2024 outlook projects an estimated 7% – 8% year-over-year organic sales growth, bringing the projected total to between $78 billion and $79 billion. Business Progress: Strong global demand for RTX’s products and services in

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