Textron Inc. (NYSE:TXT – Get Free Report) announced a quarterly dividend on Wednesday, April 24th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 0.09%.
Textron has a 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 Textron stock opened at $94.00 on Thursday. The business has a fifty day simple moving average of $92.11 and a two-hundred day simple moving average of $83.81. Textron has a 1 year low of $61.27 and a 1 year high of $97.33. The company has a market capitalization of $18.08 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on TXT shares. Citigroup lifted their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. UBS Group lifted their price objective on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $105.00 in a report on Friday, March 8th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Finally, The Goldman Sachs Group boosted their price objective on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One 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, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $93.63.
Read Our Latest Stock Analysis on Textron
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.
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