Textron Inc. (TXT) to Issue Quarterly Dividend of $0.02 on April 1st

Textron Inc. (NYSE:TXT) announced 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 of this dividend is Friday, March 14th.

Textron has a payout ratio of 1.1% meaning its dividend is sufficiently covered by earnings. 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

Shares of NYSE TXT opened at $73.19 on Friday. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.18 and a beta of 1.27. The company’s 50-day moving average price is $75.77 and its 200 day moving average price is $82.39. Textron has a 52 week low of $71.67 and a 52 week high of $97.33.

Textron (NYSE:TXT) last issued 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. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. As a group, research analysts forecast that Textron will post 6.12 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value 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 represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Susquehanna reduced their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Barclays decreased their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. TD Cowen upgraded Textron to a “hold” rating in a research note on Monday. Citigroup decreased their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. cut their price objective 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. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Company Profile

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.