Textron (NYSE:TXT) announced a quarterly dividend on Wednesday, February 28th, RTT News reports. Investors of record on Friday, March 9th will be paid a dividend of 0.02 per share by the aerospace company on Sunday, April 1st. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Thursday, March 8th.
Textron has a dividend payout ratio of 3.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Textron to earn $3.52 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 NYSE:TXT traded up $1.37 during mid-day trading on Thursday, hitting $58.97. 1,814,046 shares of the company traded hands, compared to its average volume of 1,596,434. The company has a market cap of $15,038.80, a P/E ratio of 51.73, a PEG ratio of 1.81 and a beta of 1.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 2.19. Textron has a 52-week low of $45.00 and a 52-week high of $62.19.
TXT has been the topic of several analyst reports. Cowen reiterated a “buy” rating and set a $70.00 target price on shares of Textron in a report on Monday, January 8th. ValuEngine upgraded 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 price objective on shares of Textron in a report on Sunday, February 4th. Morgan Stanley upgraded Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 price objective on the stock in a report on Thursday, February 1st. Finally, Zacks Investment Research upgraded Textron from a “sell” rating to a “hold” rating in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $61.36.
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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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