Bank of New York Mellon Corp Purchases 104,393 Shares of Curtiss-Wright Corporation (NYSE:CW)

Bank of New York Mellon Corp grew its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 23.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 552,893 shares of the aerospace company’s stock after buying an additional 104,393 shares during the period. Bank of New York Mellon Corp owned approximately 1.47% of Curtiss-Wright worth $175,417,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC acquired a new stake in shares of Curtiss-Wright during the 4th quarter worth $35,000. Whipplewood Advisors LLC boosted its stake in Curtiss-Wright by 1,566.7% in the first quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company’s stock valued at $32,000 after buying an additional 94 shares in the last quarter. Ancora Advisors LLC acquired a new stake in Curtiss-Wright in the fourth quarter valued at about $49,000. Private Trust Co. NA boosted its stake in Curtiss-Wright by 13,800.0% in the first quarter. Private Trust Co. NA now owns 139 shares of the aerospace company’s stock valued at $44,000 after buying an additional 138 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in shares of Curtiss-Wright during the fourth quarter valued at about $70,000. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Trading Up 0.7%

Shares of CW stock opened at $491.48 on Tuesday. The company has a market cap of $18.51 billion, a P/E ratio of 43.73, a PEG ratio of 3.20 and a beta of 1.15. The stock has a 50 day simple moving average of $435.85 and a two-hundred day simple moving average of $369.96. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.89. Curtiss-Wright Corporation has a fifty-two week low of $258.85 and a fifty-two week high of $493.95.

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

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 16th were issued a $0.24 dividend. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend was Monday, June 16th. Curtiss-Wright’s payout ratio is presently 8.54%.

Insiders Place Their Bets

In other Curtiss-Wright news, CFO K Christopher Farkas sold 4,780 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer owned 9,253 shares of the company’s stock, valued at approximately $3,238,550. This trade represents a 34.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John C. Watts sold 450 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $449.36, for a total value of $202,212.00. Following the completion of the sale, the vice president directly owned 4,959 shares of the company’s stock, valued at $2,228,376.24. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,130 shares of company stock worth $2,726,412. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.