Curtiss-Wright Co. (NYSE:CW) Position Reduced by Bank of Nova Scotia

Bank of Nova Scotia reduced its holdings in Curtiss-Wright Co. (NYSE:CW – Get Rating) by 56.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,759 shares of the aerospace company’s stock after selling 3,607 shares during the quarter. Bank of Nova Scotia’s holdings in Curtiss-Wright were worth $461,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Benjamin Edwards Inc. bought a new position in shares of Curtiss-Wright in the 4th quarter worth about $28,000. Covestor Ltd increased its holdings in shares of Curtiss-Wright by 91.3% in the 1st quarter. Covestor Ltd now owns 350 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 167 shares during the period. Belpointe Asset Management LLC acquired a new stake in shares of Curtiss-Wright in the 4th quarter worth about $54,000. Fifth Third Bancorp increased its holdings in shares of Curtiss-Wright by 208.2% in the 4th quarter. Fifth Third Bancorp now owns 715 shares of the aerospace company’s stock worth $119,000 after acquiring an additional 483 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Curtiss-Wright by 9.9% in the 4th quarter. Van ECK Associates Corp now owns 1,148 shares of the aerospace company’s stock worth $192,000 after acquiring an additional 103 shares during the period. 84.95% of the stock is currently owned by institutional investors.

Insider Transactions at Curtiss-Wright

In other news, CEO Lynn M. Bamford sold 1,337 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $171.10, for a total value of $228,760.70. Following the transaction, the chief executive officer now directly owns 18,998 shares of the company’s stock, valued at $3,250,557.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Lynn M. Bamford sold 1,337 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $171.10, for a total value of $228,760.70. Following the transaction, the chief executive officer now directly owns 18,998 shares of the company’s stock, valued at $3,250,557.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Kevin Rayment sold 1,055 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $171.00, for a total transaction of $180,405.00. Following the completion of the transaction, the chief operating officer now directly owns 16,849 shares in the company, valued at $2,881,179. The disclosure for this sale can be found here. Insiders have sold a total of 2,595 shares of company stock valued at $444,305 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CW shares. William Blair started coverage on shares of Curtiss-Wright in a report on Friday, May 19th. They issued an “outperform” rating on the stock. Truist Financial increased their price objective on shares of Curtiss-Wright from $183.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. Stifel Nicolaus increased their price objective on shares of Curtiss-Wright from $196.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, April 17th. Finally, StockNews.com raised shares of Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 19th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $186.80.

Curtiss-Wright Stock Performance

Shares of CW opened at $160.43 on Thursday. The firm’s 50 day moving average is $169.94 and its 200-day moving average is $170.14. The stock has a market capitalization of $6.15 billion, a P/E ratio of 19.95 and a beta of 1.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.15 and a quick ratio of 1.37. Curtiss-Wright Co. has a 12-month low of $124.37 and a 12-month high of $182.55.

Curtiss-Wright (NYSE:CW – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.12. The company had revenue of $631.00 million for the quarter, compared to analysts’ expectations of $585.49 million. Curtiss-Wright had a net margin of 11.81% and a return on equity of 16.54%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 EPS. Equities research analysts anticipate that Curtiss-Wright Co. will post 8.84 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th will be given a $0.20 dividend. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Thursday, June 15th. Curtiss-Wright’s dividend payout ratio (DPR) is 9.45%.

About Curtiss-Wright

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Curtiss-Wright Corp. is a global integrated business that provides engineered products, solutions, and services mainly to the aerospace and defense markets, as well as critical technologies in demanding commercial power, process, and industrial markets. It operates through the following three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.