Textron Inc. (NYSE:TXT) declared a quarterly dividend on Tuesday, July 23rd, RTT News reports. Investors of record on Friday, September 13th will be given a dividend of 0.02 per share by the aerospace company on Tuesday, October 1st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, September 12th.
Textron has a payout ratio of 2.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Textron to earn $4.04 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 2.0%.
Shares of TXT opened at $50.23 on Wednesday. Textron has a 1-year low of $42.30 and a 1-year high of $72.87. The stock has a market cap of $11.56 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.29 and a beta of 1.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.17 and a quick ratio of 0.97. The firm has a fifty day moving average price of $46.35 and a 200 day moving average price of $50.07.
Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.07. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.43 billion. Textron had a net margin of 9.07% and a return on equity of 15.55%. Textron’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.87 earnings per share. As a group, equities analysts expect that Textron will post 3.75 EPS for the current fiscal year.
Separately, ValuEngine raised Textron from a “sell” rating to a “hold” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.29.
Textron Company Profile
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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