Textron Inc. (NYSE:TXT) announced a quarterly dividend on Wednesday, February 28th, RTT News reports. Investors of record on Friday, March 9th will be given a dividend of 0.02 per share by the aerospace company on Sunday, April 1st. This represents a $0.08 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, March 8th.
Textron has a dividend payout ratio of 3.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Textron to earn $3.54 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 2.3%.
Shares of Textron (NYSE TXT) opened at $58.90 on Wednesday. The stock has a market capitalization of $15,444.55, a P/E ratio of 51.67, a price-to-earnings-growth ratio of 1.85 and a beta of 1.37. Textron has a 12-month low of $45.00 and a 12-month high of $62.19. The company has a current ratio of 2.19, a quick ratio of 1.06 and a debt-to-equity ratio of 0.69.
A number of analysts have recently weighed in on TXT shares. Cowen reiterated a “buy” rating and set a $70.00 target price on shares of Textron in a research report on Thursday, February 1st. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Jefferies Group restated a “buy” rating and set a $74.00 target price on shares of Textron in a research report on Sunday, February 4th. Morgan Stanley upgraded Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 target price on the stock in a report on Thursday, February 1st. Finally, Zacks Investment Research raised Textron from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Textron presently has an average rating of “Hold” and an average price target of $60.50.
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Textron Company Profile
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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