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

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%.

Textron has a dividend payout ratio of 1.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

TXT opened at $72.99 on Thursday. Textron has a 12-month low of $71.67 and a 12-month high of $97.33. 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 firm has a market capitalization of $13.33 billion, a PE ratio of 16.94, a P/E/G ratio of 1.18 and a beta of 1.27. The firm has a 50 day moving average of $75.83 and a two-hundred day moving average of $82.45.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TXT shares. JPMorgan Chase & Co. cut their target price on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Monday, January 6th. Barclays cut their target price on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Morgan Stanley cut their target price on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, TD Cowen raised shares of Textron to a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of Textron 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 sale, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate 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.