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Shares of
Textron (NYSE:TXT) climbed 14.6% in April, according to data provided by S&P Global Market Intelligence, fueled by a strong first-quarter earnings report. Investors have had a long wait, but it appears the industrial conglomerate has finally turned a corner.
So what
It s been a tough few years for Textron. Prolonged weakness in its Cessna business-jet unit, a sector that has never fully recovered from the 2008 financial crisis, has weighed on results, as have a series of one-time issues in various other units.
Cessna s Citation Longitude. Image source: Textron.
Textron s portfolio is diverse and impressive, including business jets, snowmobiles, car parts, and military equipment. But the company has been struggling to get out of second gear.