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

Key Points

• Textron Inc. has declared a quarterly dividend of $0.02 per share, with shareholders of record set to receive it on October 1st, representing an annualized dividend of $0.08 and a yield of 0.10%.
• The company demonstrated strong earnings with $1.55 EPS for the recent quarter, exceeding analyst estimates, and reported a revenue increase of 5.4% year-over-year.
• Wall Street analysts have varying views on the stock, with price targets ranging from $85.00 to $105.00 and an overall consensus rating of "Moderate Buy".

Textron Inc. (NYSE:TXT - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Friday, September 12th will be given a dividend of 0.02 per share by the aerospace company on Wednesday, October 1st. This represents a c) annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th.

Textron has a payout ratio of 1.2% indicating that its dividend is sufficiently covered by earnings. Research 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 NYSE:TXT traded down $0.51 on Friday, hitting $77.26. The company's stock had a trading volume of 1,312,012 shares, compared to its average volume of 1,911,536. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The company has a market capitalization of $13.77 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17. The stock's 50-day moving average is $79.33 and its two-hundred day moving average is $74.76. Textron has a 12 month low of $57.70 and a 12 month high of $91.48.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Textron had a return on equity of 14.26% and a net margin of 5.80%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. The company's revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Textron will post 6.12 EPS for the current year.

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.