Textron (TXT) Accelerates Buyback, To Repurchase $500M In 2nd Half
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Textron Inc. (NYSE: TXT) said that, in light of current market conditions, it is accelerating the pace of its share repurchase program. The company plans to repurchase up to $500 million of its common shares during the second half of the year.
CEO, Lewis B. Campbell, said, "Given the strength we see in our aircraft and defense businesses and our outlook for strong earnings growth over the next three to five years, we think this is an excellent opportunity to capture value that we believe is missing from our shares at current levels."
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