Textron Inc. (TXT) To Go Ex-Dividend on March 14th

Textron Inc. (NYSE:TXT) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.02 per share by the aerospace company on Tuesday, April 1st. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Friday, March 14th.

Textron has a payout ratio of 1.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Textron to earn $6.68 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 1.2%.

Textron Trading Down 2.3 %

Shares of NYSE:TXT opened at $73.67 on Wednesday. The business has a 50-day moving average price of $75.25 and a 200-day moving average price of $81.52. The stock has a market cap of $13.38 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.18 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron has a 52-week low of $70.14 and a 52-week high of $97.34.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the company posted $1.60 EPS. Equities analysts predict that Textron will post 6.12 EPS for the current year.

Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TXT. Barclays dropped their price target on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Morgan Stanley lowered their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Robert W. Baird dropped their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Bank of America lowered Textron from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.45.

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.