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

Textron Inc. (NYSE:TXT) announced 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 of this dividend is Friday, September 12th.

Textron has a dividend payout ratio of 1.2% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:TXT opened at $80.49 on Wednesday. The business has a 50 day moving average price of $80.98 and a 200 day moving average price of $75.51. Textron has a twelve month low of $57.70 and a twelve month high of $91.30. The company has a market cap of $14.34 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.35 and a beta of 1.14. The company has a quick ratio of 0.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last announced its earnings results 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 firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the prior year, the company earned $1.54 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. Research analysts predict that Textron will post 6.12 earnings per share for the current year.

Insider Activity

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $79.37, for a total value of $2,265,457.91. Following the sale, the executive vice president owned 37,624 shares of the company’s stock, valued at $2,986,216.88. This trade represents a 43.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Textron

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. raised its position in shares of Textron by 31.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company’s stock valued at $2,776,000 after buying an additional 9,082 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Textron by 16.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company’s stock valued at $1,474,000 after purchasing an additional 2,803 shares in the last quarter. LPL Financial LLC raised its position in Textron by 4.9% during the first quarter. LPL Financial LLC now owns 89,732 shares of the aerospace company’s stock valued at $6,483,000 after purchasing an additional 4,204 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Textron during the first quarter valued at approximately $545,000. Finally, TD Asset Management Inc raised its position in Textron by 2.2% during the first quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company’s stock valued at $69,776,000 after purchasing an additional 20,733 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.