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

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

Textron has a dividend payout ratio of 1.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.6%

Shares of Textron stock opened at $82.51 on Thursday. The company’s fifty day simple moving average is $82.30 and its 200-day simple moving average is $77.76. The company has a market cap of $14.70 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.35 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 has a 1 year low of $57.70 and a 1 year high of $89.28.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 23rd. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.08. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.70 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. Textron has set its FY 2025 guidance at 6.000-6.200 EPS. As a group, sell-side analysts expect that Textron will post 6.12 EPS for the current year.

Insider Buying and Selling

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the transaction, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Textron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXT. State of Alaska Department of Revenue boosted its position in Textron by 1.0% in the first quarter. State of Alaska Department of Revenue now owns 21,373 shares of the aerospace company’s stock valued at $1,544,000 after buying an additional 220 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings 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 during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Textron by 10.8% in the first quarter. Asset Management One Co. Ltd. now owns 74,463 shares of the aerospace company’s stock valued at $5,380,000 after buying an additional 7,249 shares during the last quarter. Moran Wealth Management LLC bought a new position in shares of Textron in the first quarter valued at about $7,593,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Textron by 134.2% in the first quarter. Golden State Wealth Management LLC now owns 1,925 shares of the aerospace company’s stock valued at $139,000 after buying an additional 1,103 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

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.