Deutsche Bank AG Has $40.53 Million Position in Textron Inc. (NYSE:TXT)

Deutsche Bank AG lessened its holdings in shares of Textron Inc. (NYSE:TXT) by 21.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 529,878 shares of the aerospace company’s stock after selling 144,600 shares during the period. Deutsche Bank AG owned 0.29% of Textron worth $40,530,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in Textron by 50.2% during the 4th quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company’s stock worth $46,137,000 after acquiring an additional 201,696 shares during the last quarter. Merit Financial Group LLC raised its holdings in Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after purchasing an additional 265 shares during the last quarter. Empowered Funds LLC lifted its position in Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock valued at $1,540,000 after purchasing an additional 4,480 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Textron by 44.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after purchasing an additional 5,367 shares during the period. Finally, Todd Asset Management LLC boosted its stake in shares of Textron by 1.8% in the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after purchasing an additional 8,198 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. Citigroup dropped their price objective on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Robert W. Baird lowered their price target on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.70.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This represents a 23.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by corporate insiders.

Textron Trading Down 0.3%

NYSE:TXT opened at $76.55 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The business’s 50-day simple moving average is $69.93 and its 200-day simple moving average is $75.74. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The stock has a market capitalization of $13.82 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s payout ratio is presently 1.81%.

Textron 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.