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

Deutsche Bank AG decreased its stake in shares of Textron Inc. (NYSE:TXT) by 21.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 529,878 shares of the aerospace company’s stock after selling 144,600 shares during the quarter. Deutsche Bank AG’s holdings in Textron were worth $40,530,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TXT. Wealth Enhancement Advisory Services LLC grew its stake in shares of Textron by 6.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,147 shares of the aerospace company’s stock valued at $2,000,000 after acquiring an additional 1,527 shares in the last quarter. Czech National Bank increased its holdings in shares of Textron by 5.4% during the fourth quarter. Czech National Bank now owns 40,223 shares of the aerospace company’s stock worth $3,077,000 after purchasing an additional 2,056 shares during the period. Fiduciary Alliance LLC bought a new position in shares of Textron during the fourth quarter worth approximately $479,000. Eastern Bank acquired a new stake in shares of Textron in the fourth quarter valued at approximately $42,000. Finally, Richard P Slaughter Associates Inc boosted its stake in shares of Textron by 3.4% in the fourth quarter. Richard P Slaughter Associates Inc now owns 34,214 shares of the aerospace company’s stock valued at $2,617,000 after buying an additional 1,133 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Activity at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the company’s 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 transaction, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Textron Stock Down 0.3%

Shares of NYSE TXT opened at $76.55 on Wednesday. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.18 and a beta of 1.20. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57. The stock has a 50-day moving average price of $69.93 and a two-hundred day moving average price of $75.74.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the company earned $1.20 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on TXT shares. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Morgan Stanley decreased their price target on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Citigroup cut their price objective on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Robert W. Baird reduced their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $87.70.

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.