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

Key Points

• Textron declared a quarterly dividend of $0.02 per share, equivalent to $0.08 annually and a 0.1% yield. Shareholders of record on December 11 will receive payment on January 1.
• The dividend appears well covered, with a payout ratio of 1.2%; analysts expect next year’s earnings to support a projected payout ratio of about 1.1%.
• Textron’s latest quarterly earnings were strong: EPS of $1.76 exceeded estimates by $0.33, while revenue increased 4.1% year over year.

Textron Inc. (NYSE:TXT - Get Free Report) announced a quarterly dividend on Wednesday, October 28th. Investors 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 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, December 11th.

Textron has a dividend payout ratio of 1.2% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Up 0.1%

Shares of NYSE:TXT opened at $78.27 on Thursday. Textron has a 1-year low of $71.87 and a 1-year high of $101.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 0.85. The stock has a market cap of $13.46 billion, a P/E ratio of 14.77, a P/E/G ratio of 1.11 and a beta of 0.91. The firm has a fifty day moving average price of $78.52 and a 200 day moving average price of $88.39.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, October 29th. The aerospace company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.33. Textron had a return on equity of 14.30% and a net margin of 6.12%. During the same period in the prior year, the company posted $1.55 EPS. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts predict that Textron will post 6.51 EPS for the current year.

Textron Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.