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

Textron Inc. (NYSE:TXT) announced a quarterly dividend on Wednesday, October 23rd, RTT News reports. Stockholders of record on Friday, December 13th will be given 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 dividend yield of 0.17%.

Textron stock opened at $46.79 on Thursday. The company has a fifty day simple moving average of $48.66 and a 200-day simple moving average of $49.44. The company has a quick ratio of 0.74, a current ratio of 1.92 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.26 and a beta of 1.77. Textron has a 52-week low of $42.30 and a 52-week high of $58.00.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 17th. The aerospace company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.10. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Textron had a net margin of 6.46% and a return on equity of 16.88%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. On average, research analysts anticipate that Textron will post 3.73 EPS for the current fiscal year.

Several brokerages have recently weighed in on TXT. Cowen reissued a “buy” rating and set a $60.00 price target on shares of Textron in a research report on Thursday, October 17th. Bank of America cut shares of Textron from a “buy” rating to a “neutral” rating in a research report on Tuesday. Robert W. Baird decreased their target price on shares of Textron from $64.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Vertical Research cut shares of Textron from a “buy” rating to a “hold” rating and decreased their target price for the company from $56.00 to $54.00 in a research report on Friday, September 27th. Finally, ValuEngine raised shares of Textron from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $55.25.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Dividend History for Textron (NYSE:TXT)

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