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

Textron Inc. (NYSE:TXT) declared a quarterly dividend on Wednesday, October 23rd,RTT News reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.02 per share by the aerospace company on Wednesday, January 1st. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th.

Textron has a dividend payout ratio of 1.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NYSE:TXT opened at $82.08 on Wednesday. The business has a fifty day moving average price of $85.26 and a 200-day moving average price of $86.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The company has a market capitalization of $15.23 billion, a PE ratio of 18.04, a PEG ratio of 1.49 and a beta of 1.25. Textron has a 1-year low of $75.81 and a 1-year high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the business posted $1.49 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that Textron will post 5.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TXT has been the topic of several recent analyst reports. Robert W. Baird cut their target price on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. UBS Group reduced their price objective on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.56.

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.