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

Textron Inc. (NYSE:TXT) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Friday, March 14th will be paid 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%.

Textron has a payout ratio of 1.1% meaning its dividend is sufficiently covered by earnings. Equities 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 0.3 %

Shares of TXT opened at $72.99 on Thursday. Textron has a 52-week low of $71.67 and a 52-week high of $97.33. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average is $75.83 and its two-hundred day moving average is $82.45. The stock has a market cap of $13.33 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. Research analysts forecast that Textron will post 6.12 earnings per share for the current fiscal year.

Insider Activity at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction dated 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 directly owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TXT shares. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. Citigroup lowered their price target on shares of Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Morgan Stanley lowered their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. TD Cowen raised shares of Textron to a “hold” rating in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

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.