Textron Inc. (NYSE:TXT – Get Free Report) announced a quarterly dividend on Monday, July 29th, RTT News reports. Investors of record on Friday, September 13th will be paid a dividend of 0.02 per share by the aerospace company on Tuesday, October 1st. This represents a $0.08 annualized dividend and a dividend yield of 0.09%.
Textron has a dividend payout ratio of 1.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Textron to earn $6.99 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 Stock Down 0.6 %
Shares of NYSE TXT traded down $0.55 during trading hours on Monday, hitting $91.51. The stock had a trading volume of 772,834 shares, compared to its average volume of 1,131,494. The company has a market capitalization of $17.45 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.46 and a beta of 1.25. The firm’s 50-day moving average price is $87.69 and its two-hundred day moving average price is $88.40. Textron has a 52 week low of $73.78 and a 52 week high of $97.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.66 and a current ratio of 1.64.
Insider Activity at Textron
In related news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the transaction, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on TXT. Citigroup upped their target price on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Bank of America upped their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group upped their price target on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Susquehanna cut their price target on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.63.
Get Our Latest Analysis on TXT
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.
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