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

Textron Inc. (NYSE:TXT) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders 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 dividend yield of 0.11%.

Textron has a dividend 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 Price Performance

NYSE:TXT traded down $0.05 during mid-day trading on Wednesday, hitting $73.19. 381,173 shares of the stock traded hands, compared to its average volume of 1,315,755. 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 12-month low of $71.67 and a 12-month high of $97.33. The company has a market cap of $13.36 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The business’s 50-day moving average price is $75.89 and its 200 day moving average price is $82.52.

Textron (NYSE:TXT) last issued 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 return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. Textron’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, analysts expect that Textron will post 6.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Susquehanna cut their price objective on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup lowered their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research report on Monday, January 6th. Morgan Stanley decreased their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.