Bessemer Group Inc. Purchases 3,088 Shares of Curtiss-Wright Corporation (NYSE:CW)

Bessemer Group Inc. increased its position in Curtiss-Wright Corporation (NYSE:CW) by 4.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 79,035 shares of the aerospace company’s stock after purchasing an additional 3,088 shares during the period. Bessemer Group Inc.’s holdings in Curtiss-Wright were worth $25,076,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Curtiss-Wright by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 3,634,028 shares of the aerospace company’s stock valued at $1,289,608,000 after buying an additional 15,890 shares in the last quarter. Invesco Ltd. increased its stake in shares of Curtiss-Wright by 6.4% in the 4th quarter. Invesco Ltd. now owns 1,417,445 shares of the aerospace company’s stock worth $503,009,000 after acquiring an additional 84,635 shares in the last quarter. TD Asset Management Inc. lifted its position in Curtiss-Wright by 16.2% during the 4th quarter. TD Asset Management Inc. now owns 766,413 shares of the aerospace company’s stock valued at $271,977,000 after acquiring an additional 107,115 shares during the period. Geode Capital Management LLC boosted its stake in Curtiss-Wright by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 743,934 shares of the aerospace company’s stock worth $264,071,000 after acquiring an additional 12,086 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Curtiss-Wright by 1.2% in the fourth quarter. Alliancebernstein L.P. now owns 592,326 shares of the aerospace company’s stock worth $210,199,000 after purchasing an additional 6,971 shares during the period. Institutional investors own 82.71% of the company’s stock.

Insider Activity

In other news, Director Bruce D. Hoechner sold 1,900 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total transaction of $851,200.00. Following the transaction, the director now directly owns 4,523 shares of the company’s stock, valued at $2,026,304. This represents a 29.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO K Christopher Farkas sold 4,780 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $350.00, for a total value of $1,673,000.00. Following the completion of the transaction, the chief financial officer now owns 9,253 shares in the company, valued at approximately $3,238,550. This trade represents a 34.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,130 shares of company stock valued at $2,726,412 in the last 90 days. 0.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a report on Monday, April 14th. Citigroup lifted their price objective on Curtiss-Wright from $444.00 to $520.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Robert W. Baird boosted their target price on Curtiss-Wright from $432.00 to $500.00 and gave the stock an “outperform” rating in a report on Thursday, May 22nd. Truist Financial cut their target price on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Finally, Wall Street Zen lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Curtiss-Wright currently has an average rating of “Moderate Buy” and a consensus target price of $418.00.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $476.51 on Thursday. The firm has a market cap of $17.95 billion, a P/E ratio of 42.39, a PEG ratio of 3.12 and a beta of 1.14. Curtiss-Wright Corporation has a twelve month low of $258.85 and a twelve month high of $484.05. 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 has a 50 day moving average of $410.03 and a 200 day moving average of $362.99.

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

Curtiss-Wright Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 annualized dividend and a yield of 0.20%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.21. Curtiss-Wright’s dividend payout ratio is currently 8.54%.

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.