Deutsche Bank AG Purchases 3,824 Shares of Textron Inc. (NYSE:TXT)

Deutsche Bank AG grew its position in shares of Textron Inc. (NYSE:TXT) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 533,702 shares of the aerospace company’s stock after purchasing an additional 3,824 shares during the period. Deutsche Bank AG owned about 0.30% of Textron worth $38,560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its position in Textron by 31.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company’s stock worth $2,776,000 after buying an additional 9,082 shares during the last quarter. Graham Capital Management L.P. raised its stake in shares of Textron by 166.8% during the fourth quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company’s stock worth $5,125,000 after acquiring an additional 41,888 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Textron by 16.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company’s stock worth $1,474,000 after acquiring an additional 2,803 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Textron in the 1st quarter valued at $545,000. Finally, TD Asset Management Inc grew its holdings in shares of Textron by 2.2% during the 1st quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company’s stock valued at $69,776,000 after purchasing an additional 20,733 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on TXT shares. Barclays boosted their price target on shares of Textron from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. UBS Group raised Textron from a “sell” rating to a “neutral” rating and boosted their target price for the company from $73.00 to $88.00 in a research note on Monday, July 28th. The Goldman Sachs Group restated a “neutral” rating and set a $85.00 target price (down from $95.00) on shares of Textron in a report on Tuesday, July 1st. Wall Street Zen cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $95.00 price objective (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.67.

Insider Transactions at Textron

In other news, EVP Julie G. Duffy sold 28,543 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the transaction, the executive vice president directly owned 37,624 shares in the company, valued at $2,986,216.88. This trade represents a 43.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Textron Stock Up 1.2%

Shares of NYSE TXT opened at $78.50 on Wednesday. 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 Inc. has a 12 month low of $57.70 and a 12 month high of $91.48. The firm has a market capitalization of $13.99 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The firm has a fifty day simple moving average of $79.86 and a two-hundred day simple moving average of $74.67.

Textron (NYSE:TXT) last announced its earnings results on Thursday, July 24th. The aerospace company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 EPS. Equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, September 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%. Textron’s payout ratio is presently 1.81%.

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.