Bank of Nova Scotia Purchases 87,927 Shares of Curtiss-Wright Corporation (NYSE:CW)

Bank of Nova Scotia raised its position in Curtiss-Wright Corporation (NYSE:CW) by 2,460.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,500 shares of the aerospace company’s stock after purchasing an additional 87,927 shares during the period. Bank of Nova Scotia owned 0.24% of Curtiss-Wright worth $29,030,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Ascent Group LLC raised its position in shares of Curtiss-Wright by 4.9% during the 4th quarter. Ascent Group LLC now owns 713 shares of the aerospace company’s stock valued at $253,000 after buying an additional 33 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Curtiss-Wright by 1.6% during the 4th quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company’s stock valued at $753,000 after buying an additional 34 shares in the last quarter. Portside Wealth Group LLC raised its position in shares of Curtiss-Wright by 1.6% during the 1st quarter. Portside Wealth Group LLC now owns 2,144 shares of the aerospace company’s stock valued at $680,000 after buying an additional 34 shares in the last quarter. GeoWealth Management LLC raised its position in shares of Curtiss-Wright by 15.6% during the 4th quarter. GeoWealth Management LLC now owns 318 shares of the aerospace company’s stock valued at $113,000 after buying an additional 43 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its position in shares of Curtiss-Wright by 4.7% during the 4th quarter. EP Wealth Advisors LLC now owns 951 shares of the aerospace company’s stock valued at $337,000 after buying an additional 43 shares in the last quarter. 82.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CW has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. Citigroup lifted their target price on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a “buy” rating in a research report on Monday, July 14th. Robert W. Baird lifted their target price on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Wall Street Zen cut shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial decreased their target price on shares of Curtiss-Wright from $356.00 to $338.00 and set a “hold” rating on the stock in a research report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $467.14.

Curtiss-Wright Price Performance

Shares of Curtiss-Wright stock opened at $493.77 on Friday. The firm has a market cap of $18.60 billion, a PE ratio of 43.93, a price-to-earnings-growth ratio of 3.10 and a beta of 1.18. Curtiss-Wright Corporation has a 12-month low of $258.85 and a 12-month high of $499.30. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $472.92 and its two-hundred day simple moving average is $386.84.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.43. The business had revenue of $805.65 million for the quarter, compared to analyst estimates of $767.32 million. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.99 EPS. As a group, equities analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 16th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 16th. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.21. Curtiss-Wright’s payout ratio is presently 8.54%.

Insider Transactions at Curtiss-Wright

In other news, VP John C. Watts sold 450 shares of Curtiss-Wright stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $449.36, for a total transaction of $202,212.00. Following the sale, the vice president owned 4,959 shares of the company’s stock, valued at approximately $2,228,376.24. The trade was a 8.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce D. Hoechner sold 1,900 shares of Curtiss-Wright stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $448.00, for a total transaction of $851,200.00. Following the sale, the director directly owned 4,523 shares in the company, valued at $2,026,304. The trade was a 29.58% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Curtiss-Wright Company Profile

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.