Bank of New York Mellon Corp Sells 55,461 Shares of Curtiss-Wright Corporation $CW

Bank of New York Mellon Corp cut its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 460,689 shares of the aerospace company’s stock after selling 55,461 shares during the quarter. Bank of New York Mellon Corp owned about 1.22% of Curtiss-Wright worth $250,126,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CW. Federated Hermes Inc. raised its holdings in Curtiss-Wright by 18.1% in the third quarter. Federated Hermes Inc. now owns 5,630 shares of the aerospace company’s stock worth $3,057,000 after buying an additional 863 shares during the last quarter. Truist Financial Corp increased its position in shares of Curtiss-Wright by 3.3% during the third quarter. Truist Financial Corp now owns 13,842 shares of the aerospace company’s stock valued at $7,515,000 after acquiring an additional 445 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC purchased a new position in Curtiss-Wright in the 3rd quarter worth approximately $206,000. Belpointe Asset Management LLC lifted its position in Curtiss-Wright by 133.0% in the 3rd quarter. Belpointe Asset Management LLC now owns 1,088 shares of the aerospace company’s stock valued at $591,000 after acquiring an additional 621 shares in the last quarter. Finally, Purkiss Capital Advisors LLC boosted its stake in Curtiss-Wright by 10.1% during the 3rd quarter. Purkiss Capital Advisors LLC now owns 503 shares of the aerospace company’s stock valued at $273,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CW shares. Truist Financial set a $603.00 price target on Curtiss-Wright in a report on Friday, January 9th. Wall Street Zen upgraded shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Citigroup boosted their price objective on shares of Curtiss-Wright from $607.00 to $661.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $625.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 target price on shares of Curtiss-Wright in a research report on Tuesday, December 16th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $612.33.

Curtiss-Wright Trading Down 0.1%

Shares of Curtiss-Wright stock opened at $663.78 on Friday. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $673.19. The company’s fifty day simple moving average is $585.07 and its 200-day simple moving average is $543.13. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.75 and a quick ratio of 1.17. The stock has a market capitalization of $24.48 billion, a PE ratio of 54.10, a P/E/G ratio of 3.03 and a beta of 0.95.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, November 6th. The aerospace company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.12. Curtiss-Wright had a return on equity of 18.82% and a net margin of 13.78%.The company had revenue of $869.00 million for the quarter, compared to analysts’ expectations of $869.03 million. During the same period last year, the firm earned $2.89 EPS. Curtiss-Wright’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities analysts anticipate that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Friday, November 28th. Curtiss-Wright’s dividend payout ratio is currently 7.82%.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, EVP John C. Watts sold 288 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $600.00, for a total transaction of $172,800.00. Following the sale, the executive vice president owned 3,188 shares in the company, valued at approximately $1,912,800. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 513 shares of company stock valued at $302,586. Corporate insiders own 0.55% of the company’s stock.

About Curtiss-Wright

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.