Textron Inc. Announces Quarterly Dividend of $0.02 (NYSE:TXT)

Textron Inc. (NYSE:TXT) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.02 per share by the aerospace company on Monday, July 1st. This represents a $0.08 annualized dividend and a yield of 0.09%.

Textron has a dividend payout ratio of 1.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Textron to earn $6.96 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 1.1%.

Textron Stock Performance

Shares of TXT opened at $94.00 on Thursday. The business’s fifty day simple moving average is $92.11 and its two-hundred day simple moving average is $83.81. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. Textron has a 12 month low of $61.27 and a 12 month high of $97.33. The company has a market cap of $18.08 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.50 and a beta of 1.30.

Textron (NYSE:TXT) last issued its earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the business posted $1.07 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Research analysts anticipate that Textron will post 6.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TXT. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $105.00 in a report on Friday, March 8th. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. UBS Group increased their price target on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. Finally, Citigroup increased their price target on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.63.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.