Textron Inc. (NYSE:TXT) is among the 7 Best Defense Dividend Stocks to Buy. On December 11, Citigroup initiated coverage of the stock with a Neutral rating and announced a share price target of $91.
The global investment bank recently launched coverage on aerospace and defense stocks, while noting several ‘megatrends’ in the sector, which Citi believes could help at least one company reach the $1 trillion mark in market capitalization over the coming years.
As of the close of business on December 22, Wall Street analysts have a consensus Hold rating on the stock, with a one-year average share price target of $89.14, representing a slight downside potential of 2%.
Textron Inc. has been a consistent dividend payer for well over three decades, according to records on the company’s website. On October 22, it declared a quarterly dividend of $0.02 per common stock, which is scheduled to be paid on January 1, 2026.
In other news, on December 17, the company announced it had sold a TSUNAMI autonomous vessel to the Naval Information Warfare Center Pacific to support the naval needs of the United States, Australia, and the United Kingdom.
This follows the sale of a 24-foot TSUNAMI vessel to the Naval Surface Warfare Center Dahlgren Division back in May this year.
Textron Inc. manufactures products for consumers across several industries, through its six business segments: Bell, Textron Aviation, Textron eAviation, Textron Systems, Industrial, and Finance.
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