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

Textron Inc. (NYSE:TXT) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend 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 Price Performance

TXT traded down $0.05 during trading on Wednesday, reaching $73.19. The stock had a trading volume of 381,173 shares, 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. The firm has a market capitalization of $13.36 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The stock has a 50 day moving average of $75.89 and a two-hundred day moving average of $82.52. Textron has a 1-year low of $71.67 and a 1-year high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings data 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 firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the prior year, the business earned $1.60 EPS. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Textron will post 6.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Susquehanna lowered their target price on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays cut their target price 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. Finally, TD Cowen raised Textron to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average target price 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.