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

Textron Inc. (NYSE:TXT) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Investors of record on Friday, December 13th will be paid a dividend of 0.02 per share by the aerospace company on Wednesday, January 1st. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%.

Textron has a dividend payout ratio of 1.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Textron to earn $6.97 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 $86.84 on Thursday. The company has a 50-day simple moving average of $87.94 and a 200-day simple moving average of $88.23. Textron has a one year low of $74.13 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.43 and a beta of 1.23.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TXT. Bank of America upped their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. reduced their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. Finally, Citigroup increased their price target on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $102.75.

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.