Truist Financial Corp Has $2.78 Million Position in Curtiss-Wright Co. (NYSE:CW)

Truist Financial Corp increased its holdings in Curtiss-Wright Co. (NYSE:CW) by 16.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,485 shares of the aerospace company’s stock after buying an additional 1,756 shares during the quarter. Truist Financial Corp’s holdings in Curtiss-Wright were worth $2,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in shares of Curtiss-Wright by 0.7% in the 3rd quarter. Invesco Ltd. now owns 1,307,585 shares of the aerospace company’s stock valued at $255,803,000 after purchasing an additional 8,470 shares during the period. Ameriprise Financial Inc. grew its position in Curtiss-Wright by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 712,704 shares of the aerospace company’s stock valued at $139,427,000 after acquiring an additional 2,784 shares during the period. Fiera Capital Corp bought a new stake in Curtiss-Wright in the third quarter valued at $31,386,000. International Assets Investment Management LLC acquired a new position in Curtiss-Wright during the fourth quarter worth $31,816,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Curtiss-Wright by 32.7% during the fourth quarter. California Public Employees Retirement System now owns 122,656 shares of the aerospace company’s stock valued at $27,327,000 after acquiring an additional 30,229 shares during the period. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of Curtiss-Wright stock opened at $276.59 on Wednesday. The firm has a 50 day simple moving average of $250.50 and a 200 day simple moving average of $229.82. The firm has a market cap of $10.59 billion, a P/E ratio of 28.49 and a beta of 1.18. Curtiss-Wright Co. has a fifty-two week low of $157.85 and a fifty-two week high of $279.79. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.02 and a quick ratio of 1.38.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.24. Curtiss-Wright had a return on equity of 16.79% and a net margin of 12.78%. The business had revenue of $713.17 million for the quarter, compared to analysts’ expectations of $664.01 million. During the same quarter last year, the business earned $1.53 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Sell-side analysts predict that Curtiss-Wright Co. will post 10.27 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.29%. Curtiss-Wright’s payout ratio is presently 8.24%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CW. Stifel Nicolaus upped their target price on shares of Curtiss-Wright from $255.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Truist Financial upped their price objective on shares of Curtiss-Wright from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Robert W. Baird lifted their target price on shares of Curtiss-Wright from $246.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley increased their price target on Curtiss-Wright from $260.00 to $284.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $277.00.

Insiders Place Their Bets

In other news, VP Paul J. Ferdenzi sold 2,500 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $250.00, for a total value of $625,000.00. Following the transaction, the vice president now directly owns 15,942 shares in the company, valued at approximately $3,985,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Paul J. Ferdenzi sold 2,500 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $250.00, for a total value of $625,000.00. Following the completion of the sale, the vice president now directly owns 15,942 shares of the company’s stock, valued at approximately $3,985,500. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lynn M. Bamford sold 2,620 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $243.60, for a total transaction of $638,232.00. Following the transaction, the chief executive officer now owns 35,773 shares of the company’s stock, valued at approximately $8,714,302.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,451 shares of company stock valued at $3,030,512. Company insiders own 0.55% of the company’s stock.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.