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

Textron Inc. (NYSE:TXT) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Friday, June 14th will be given 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%. The ex-dividend date of this dividend is Friday, June 14th.

Textron has a payout ratio of 1.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 9.7 %

NYSE TXT opened at $84.92 on Friday. Textron has a twelve month low of $61.27 and a twelve month high of $97.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92. The stock has a market cap of $16.34 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.48 and a beta of 1.30. The firm’s 50 day moving average price is $92.09 and its two-hundred day moving average price is $83.81.

Textron (NYSE:TXT) last posted its quarterly 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 net margin of 6.73% and a return on equity of 16.05%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the previous year, the company posted $1.07 EPS. Textron’s revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that Textron will post 6.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TXT shares. 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. 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. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. UBS Group lifted their price objective on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. Finally, Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and a consensus 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.