Textron Inc. (NYSE:TXT) Shares Sold by Deutsche Bank AG

Deutsche Bank AG reduced its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 21.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 529,878 shares of the aerospace company's stock after selling 144,600 shares during the period. Deutsche Bank AG owned about 0.29% of Textron worth $40,530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TXT. Invesco Ltd. increased its stake in Textron by 17.8% during the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after acquiring an additional 1,167,105 shares during the last quarter. Boston Partners raised its holdings in Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock valued at $572,465,000 after acquiring an additional 333,127 shares in the last quarter. Geode Capital Management LLC boosted its stake in Textron by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company's stock worth $350,619,000 after purchasing an additional 164,964 shares during the period. Brandes Investment Partners LP increased its stake in Textron by 19.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company's stock valued at $142,249,000 after purchasing an additional 302,712 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Textron by 9.4% in the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock worth $137,971,000 after buying an additional 155,384 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business'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 directly owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. The trade was a 23.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Textron Trading Down 0.5%

NYSE TXT traded down $0.36 during mid-day trading on Monday, hitting $76.32. The company's stock had a trading volume of 75,499 shares, compared to its average volume of 1,205,752. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57. The firm has a market capitalization of $13.78 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. 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 stock's fifty day simple moving average is $69.99 and its two-hundred day simple moving average is $75.58.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. Research analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio is currently 1.81%.

Wall Street Analyst Weigh In

TXT has been the subject of a number of research analyst reports. Citigroup reduced their target price on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Robert W. Baird cut their target price on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Morgan Stanley decreased their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Bank of America cut shares of Textron from a "buy" rating to a "neutral" rating and reduced their target price for the company from $110.00 to $85.00 in a report on Friday, January 24th. Finally, UBS Group lifted their price objective on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus 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.