Textron appoints new board member with aerospace expertise

Textron Inc . (NYSE:TXT), a notable player in the aircraft and parts manufacturing sector with a market capitalization of $13.37 billion, announced the appointment of Rob Mionis to its Board of Directors, effective March 1, 2025. The decision was ratified by the company’s Board on February 26, 2025. According to InvestingPro analysis, Textron currently trades below its Fair Value, presenting a potential opportunity for investors interested in the aerospace sector.

Mionis brings a wealth of industry experience to Textron. Currently serving as President and CEO of Celestica Inc (NYSE:CLS)., a leader in design, manufacturing, and supply chain solutions, he has been at the helm since 2015. Celestica (TSX:CLS), with a workforce of around 27,000, spans multiple continents and reported revenues of $9.7 billion in 2024. His appointment comes at a time when Textron demonstrates strong financial health, maintaining a comfortable current ratio of 1.75 and operating with moderate debt levels.

Before joining Celestica, Mionis was an Operating Partner/Senior Advisor at Pamplona Capital Management, focusing on industrial and aerospace sectors. His prior roles include President and CEO of StandardAero and various senior positions at Honeywell (NASDAQ:HON), including Vice President Integrated Supply Chain for Honeywell Aerospace. His career began at General Electric (NYSE:GE).

In line with Textron’s Director Compensation Program, Mionis will receive remuneration as detailed in the company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2024. Additionally, he will be covered by Textron’s standard Directors Indemnity Agreement, ensuring indemnification and expense coverage for any claims related to his directorial duties.

Mionis is set to serve on the Audit Committee and the Organization and Compensation Committee of the Textron Board. This appointment reflects Textron’s commitment to leadership with deep industry knowledge and strategic vision.

This move, as reported in a recent SEC filing, is part of Textron’s ongoing governance and oversight strengthening, ensuring the company’s strategic alignment with industry trends and operational excellence. The company has maintained dividend payments for 54 consecutive years and generally trades with low price volatility, as highlighted by InvestingPro, which offers comprehensive analysis and additional insights through its detailed Pro Research Report, available for over 1,400 US stocks.

In other recent news, Textron Inc. reported its third-quarter earnings for 2024, which missed analysts’ expectations. The company posted earnings per share (EPS) of $1.34, slightly below the forecast of $1.35, and revenue came in at $3.61 billion, falling short of the projected $3.77 billion. Textron also issued $500 million in debt through the sale of 5.500% Notes due May 2035, a strategic move to raise capital. Meanwhile, BofA Securities downgraded Textron’s stock rating from Buy to Neutral, citing concerns over supply chain and labor issues, including a recent four-week strike that impacted the company’s aviation production.

Baird analysts adjusted their price target for Textron shares to $92 from $100, maintaining an Outperform rating, and noted the company’s potential for long-term growth despite current challenges. Vertical Research Partners reiterated a Buy rating with a price target of $91, suggesting confidence in Textron’s strategic positioning despite conservative 2025 guidance. The company’s Bell segment is experiencing a multi-year margin decline, attributed to the ramp-up of the FLRAA program at dilutive margins. Textron Systems is pursuing opportunities with projects like the FTUAS and RCV, which analysts see as potential growth drivers.

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