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

Textron Inc. (NYSE:TXT) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors 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 0.08%.

Textron has a 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

TXT traded down $1.13 during trading on Wednesday, hitting $94.15. The company’s stock had a trading volume of 392,056 shares, compared to its average volume of 1,138,786. The firm has a market cap of $18.11 billion, a PE ratio of 20.85, a P/E/G ratio of 1.48 and a beta of 1.30. Textron has a one year low of $61.27 and a one year high of $97.33. The business’s 50 day simple moving average is $91.96 and its 200-day simple moving average is $83.73. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50.

Textron (NYSE:TXT) last announced its quarterly earnings data 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 net margin of 6.73% and a return on equity of 16.05%. The firm 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 firm earned $1.07 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Textron will post 6.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Textron Company Profile

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.