Textron Inc. (TXT) to Issue Quarterly Dividend of $0.02 on January 1st

Textron Inc. (NYSE:TXT) declared a quarterly dividend on Wednesday, October 22nd. Shareholders of record on Friday, December 12th will be given a dividend of 0.02 per share by the aerospace company on Thursday, January 1st. This represents a c) dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Friday, December 12th.

Textron has a dividend payout ratio of 1.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 3.7%

TXT stock opened at $79.50 on Friday. The firm’s 50-day moving average is $82.28 and its two-hundred day moving average is $77.88. Textron has a 52 week low of $57.70 and a 52 week high of $89.28. The company has a market capitalization of $14.17 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.34 and a beta of 1.13. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.08. Textron had a return on equity of 14.26% and a net margin of 5.80%.The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the prior year, the company earned $1.40 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. On average, analysts forecast that Textron will post 6.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TXT shares. Weiss Ratings restated a “hold (c+)” rating on shares of Textron in a report on Wednesday, October 8th. Wall Street Zen cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 19th. UBS Group upgraded shares of Textron from a “sell” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $88.00 in a research note on Monday, July 28th. Morgan Stanley upped their target price on shares of Textron from $71.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Finally, Susquehanna lifted their price objective on Textron from $90.00 to $95.00 and gave the company a “positive” rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $92.45.

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.