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

Textron Inc. (NYSE:TXT) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Friday, March 14th.

Textron has a dividend payout ratio of 1.1% 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

TXT opened at $73.67 on Wednesday. The company has a market capitalization of $13.38 billion, a P/E ratio of 17.09, a PEG ratio of 1.18 and a beta of 1.26. The company has a 50-day moving average of $75.25 and a 200-day moving average of $81.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. Textron has a 1-year low of $70.14 and a 1-year high of $97.34.

Textron (NYSE:TXT) last issued its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. Equities analysts expect that Textron will post 6.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TXT has been the topic of several research analyst reports. TD Cowen raised Textron to a “hold” rating in a research note on Monday, February 24th. Robert W. Baird decreased their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Insider Buying and Selling

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by insiders.

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.