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

Textron Inc. (NYSE:TXT - Get Free Report) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Investors of record on Friday, June 14th will be given a dividend of 0.02 per share by the aerospace company on Monday, July 1st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%.

Textron has a dividend payout ratio of 1.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Textron to earn $6.96 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 Trading Down 1.3 %

Shares of TXT traded down $1.27 on Wednesday, hitting $94.01. 1,521,751 shares of the stock traded hands, compared to its average volume of 1,153,249. The firm has a market capitalization of $18.09 billion, a P/E ratio of 20.55, a P/E/G ratio of 1.48 and a beta of 1.30. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. Textron has a 1 year low of $61.27 and a 1 year high of $97.33. The stock's 50 day moving average is $91.96 and its two-hundred day moving average is $83.73.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The business had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter last year, the firm earned $1.07 earnings per share. The business's revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Textron will post 6.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TXT. StockNews.com upgraded shares of Textron from a "buy" rating to a "strong-buy" rating in a report on Thursday, January 25th. Citigroup lifted their target price on Textron from $104.00 to $111.00 and gave the company a "buy" rating in a report on Thursday, April 4th. Bank of America upgraded Textron from a "neutral" rating to a "buy" rating and upped their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. The Goldman Sachs Group increased their target price on shares of Textron from $103.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Finally, UBS Group lifted their price target on shares of Textron from $77.00 to $81.00 and gave the company a "sell" rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.63.

Textron Company Profile

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.