Fannie Mae, Freddie Mac shares tumble after conservatorship comments
WICHITA - Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company, with a market capitalization of $15.29 billion and strong financial health indicators according to InvestingPro, announced the addition of Starlink high-speed internet connectivity for Cessna Citation Sovereign and Sovereign+ aircraft following Federal Aviation Administration (FAA) approval of AeroMech’s Supplemental Type Certificate (STC).
The new connectivity option utilizes Starlink’s Low Earth Orbit satellite constellation to provide internet service over land, water, and remote areas where traditional in-flight Wi-Fi may be unavailable.
"We invest in product upgrades based on customer feedback, and they have been asking for the best in-flight connectivity options available in aviation today," said Brian Rohloff, senior vice president of Customer Support at Textron Aviation.
The upgrade will be available for installation at Textron Aviation Service Centers across North America and select international locations. The system consists of an Aero Terminal (antenna), Power Supply Unit, two Wireless Access Points, and associated wiring.
Starlink, engineered and operated by SpaceX, provides broadband internet capable of supporting streaming, online gaming, and video calls through its satellite network.
Textron Aviation manufactures Beechcraft, Cessna, and Hawker aircraft products, including business jets, turboprops, and pistons, as well as special mission and military trainer aircraft.
This announcement is based on a press release statement from Textron Aviation. The company’s strong financial position, with liquid assets exceeding short-term obligations and a current ratio of 1.8, positions it well for continued innovation in the aviation sector. InvestingPro analysis suggests the stock is currently trading near its Fair Value, with analysts maintaining positive forecasts for the company’s profitability this year. For deeper insights into Textron’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Textron Inc. reported first-quarter 2025 earnings that surpassed analyst expectations, with an adjusted income of $1.28 per share against a forecast of $1.16. Revenue also exceeded predictions, reaching $3.3 billion compared to the anticipated $3.25 billion. Despite these strong results, Textron’s stock saw a downgrade from Goldman Sachs, which shifted its rating from Buy to Neutral due to concerns about market share in the business jet segment and limited growth potential in its Systems and Industrial divisions. Conversely, Jefferies raised its price target for Textron to $95.00 from $85.00, maintaining a Buy rating, citing strong demand for new products and the company’s focus on bringing innovations like the M2 Gen2 and CJ3 Gen2 to market.
Additionally, Textron’s shareholders recently elected directors and approved executive compensation during the company’s 2025 Annual Meeting. The appointment of Ernst & Young LLP as Textron’s independent registered public accounting firm for the fiscal year 2025 was also ratified. Textron is optimistic about future growth, with solid demand in business jets and helicopters, and maintains its full-year EPS guidance between $6.00 and $6.20. The company is also exploring mergers and acquisitions and anticipates improvements in workforce productivity and supply chain conditions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.