If you just plug it into a translator, you get Division before you get battalion. Going by Leo, Division is #2 translation while Battalion is #13. In context yes it's definitely Battalion but if you don't actually speak German and just run it through a translator it looks like Division, though that requires you not knowing that German uses Division for the term Division in a military unit senseUh.... no.
That translates as Heavy Tank Battalion 501 as the closest translation. The heavy tanks were mostly assigned as a Corps-level asset because they were too damn slow and too few in number.