Why Textron Stock Crashed 12% on Thursday

At 17 times earnings and 10% growth, is this defense contractor a buy or a sell ?Shares of defense contractor Textron (TXT -11.67%) tumbled 11.8% through 10:35 a.m. ET Thursday despite the company reporting better-than-expected results for Q1 2024.Analysts forecast the maker of armored cars, military drones, Cessna airplanes, and Bell helicopters would earn only $1.13 per share (non-GAAP) on sales of $3.1 billion in Q1. But Textron surprised to the upside with $1.20 per share in earnings and sales of $3.14 ...