Textron Inc. (NYSE:TXT - Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Investors of record on Friday, December 13th will be given a dividend of 0.02 per share by the aerospace company on Wednesday, January 1st. This represents a $0.08 annualized dividend and a yield of 0.09%.
Textron has a payout ratio of 1.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Textron to earn $6.98 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 1.1%.
Textron Stock Down 0.8 %
Textron stock traded down $0.71 during midday trading on Wednesday, hitting $86.84. 925,506 shares of the stock were exchanged, compared to its average volume of 1,064,935. The firm has a market cap of $16.27 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. Textron has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a 50 day moving average price of $87.92 and a two-hundred day moving average price of $88.24.
Analyst Ratings Changes
Several research analysts have weighed in on TXT shares. UBS Group raised their price objective on shares of Textron from $84.00 to $87.00 and gave the stock a "sell" rating in a report on Friday, July 19th. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, October 14th. Bank of America raised their price objective on shares of Textron from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Morgan Stanley lowered shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective for the company. in a report on Thursday, August 8th. Finally, Citigroup raised their price objective on shares of Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $102.75.
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Textron Company Profile
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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.
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