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

Textron Inc. (NYSE:TXT - Get Free Report) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Friday, March 14th will be paid a dividend of 0.02 per share by the aerospace company on Tuesday, April 1st. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th.

Textron has a dividend payout ratio of 1.1% indicating that 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 Stock Performance

Shares of TXT stock traded up $1.51 during mid-day trading on Friday, reaching $74.76. The stock had a trading volume of 1,458,474 shares, compared to its average volume of 1,324,279. Textron has a 1-year low of $71.67 and a 1-year high of $97.33. The firm has a market cap of $13.65 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.18 and a beta of 1.27. 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 business's fifty day moving average is $75.73 and its 200-day moving average is $82.26.

Textron (NYSE:TXT - Get Free Report) last announced 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. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.78 billion. During the same period last year, the business posted $1.60 earnings per share. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. On average, research analysts forecast that Textron will post 6.12 earnings per share for the current year.

Insider Transactions at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company's stock.

Analyst Upgrades and Downgrades

TXT has been the subject of several research analyst reports. Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a research note on Monday, December 23rd. Citigroup reduced their price target on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Morgan Stanley reduced their price target on Textron from $86.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Bank of America cut Textron from a "buy" rating to a "neutral" rating and reduced their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 price objective on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.45.

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.