Textron Inc. (NYSE:TXT – Get Free Report) announced a quarterly dividend on Wednesday, October 28th. Shareholders of record on Friday, December 11th will be paid a dividend of $0.02 per share by the aerospace company on Friday, January 1st. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, December 11th.
Textron has a payout ratio of 1.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Textron to earn $7.31 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 Price Performance
Shares of NYSE TXT opened at $87.83 on Friday. Textron has a twelve month low of $71.87 and a twelve month high of $101.57. The company has a current ratio of 1.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $78.55 and a two-hundred day moving average of $88.36. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.14 and a beta of 0.91.
Textron (NYSE:TXT – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The aerospace company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.33. Textron had a net margin of 6.12% and a return on equity of 14.30%. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the company posted $1.55 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. As a group, analysts expect that Textron will post 6.51 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have issued reports on TXT. Citigroup decreased their price target on shares of Textron from $99.00 to $86.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. UBS Group reiterated a “neutral” rating and set a $95.00 price objective on shares of Textron in a research report on Wednesday, July 29th. Morgan Stanley cut their price objective on Textron from $98.00 to $86.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Weiss Ratings lowered Textron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Wall Street Zen cut Textron from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Textron presently has a consensus rating of “Hold” and a consensus target price of $99.11.
Read Our Latest Stock Analysis on Textron
About Textron
Textron Inc (NYSE:TXT) is a diversified industrial company that develops and manufactures aircraft, helicopters, specialized vehicles, defense systems and other industrial products. Founded in 1923 by Royal Little, the company has grown through the development and acquisition of businesses serving commercial, government and consumer markets.
Textron Aviation produces business jets, turboprop aircraft and general aviation aircraft under the Cessna and Beechcraft brands. Bell designs and manufactures military and commercial helicopters, tiltrotor aircraft and related support services.
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