Textron Inc. (TXT) To Go Ex-Dividend on June 14th

Textron Inc. (NYSE:TXT) 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%. The ex-dividend date of this dividend is Friday, June 14th.

Textron has a payout ratio of 1.1% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

TXT stock opened at $84.92 on Friday. Textron has a 52-week low of $61.27 and a 52-week high of $97.33. The stock’s fifty day simple moving average is $92.09 and its 200-day simple moving average is $83.81. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $16.34 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30.

Textron (NYSE:TXT) 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. Equities research analysts expect that Textron will post 6.27 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised their price objective on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Citigroup increased their target price on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Finally, UBS Group raised their price objective on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.