Bank of America Corp DE Sells 80,970 Shares of Curtiss-Wright Co. (NYSE:CW)

Bank of America Corp DE trimmed its stake in shares of Curtiss-Wright Co. (NYSE:CW - Free Report) by 40.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,251 shares of the aerospace company's stock after selling 80,970 shares during the quarter. Bank of America Corp DE owned 0.32% of Curtiss-Wright worth $42,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CW. YANKCOM Partnership acquired a new stake in Curtiss-Wright during the fourth quarter valued at approximately $31,000. Ancora Advisors LLC acquired a new stake in Curtiss-Wright during the fourth quarter valued at approximately $49,000. UMB Bank n.a. boosted its holdings in Curtiss-Wright by 61.0% during the fourth quarter. UMB Bank n.a. now owns 169 shares of the aerospace company's stock valued at $60,000 after purchasing an additional 64 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Curtiss-Wright during the fourth quarter valued at approximately $70,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Curtiss-Wright by 85.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 228 shares of the aerospace company's stock valued at $82,000 after purchasing an additional 105 shares in the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP George P. Mcdonald sold 148 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $325.41, for a total transaction of $48,160.68. Following the completion of the transaction, the vice president now directly owns 1,899 shares in the company, valued at $617,953.59. This represents a 7.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul J. Ferdenzi sold 658 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $325.68, for a total transaction of $214,297.44. Following the transaction, the insider now owns 19,239 shares of the company's stock, valued at approximately $6,265,757.52. This represents a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,642 shares of company stock valued at $3,581,107. Company insiders own 0.55% of the company's stock.

Curtiss-Wright Trading Up 0.7%

Shares of CW stock traded up $2.94 on Friday, hitting $410.05. The stock had a trading volume of 214,042 shares, compared to its average volume of 270,866. Curtiss-Wright Co. has a twelve month low of $258.85 and a twelve month high of $410.35. The firm has a market cap of $15.44 billion, a P/E ratio of 38.87, a PEG ratio of 2.48 and a beta of 1.04. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average price of $335.15 and a two-hundred day moving average price of $347.01.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. The company had revenue of $805.65 million during the quarter, compared to analyst estimates of $767.32 million. During the same quarter in the previous year, the business earned $1.99 EPS. The firm's revenue was up 13.0% on a year-over-year basis. As a group, analysts forecast that Curtiss-Wright Co. will post 12.32 earnings per share 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. Investors of record on Monday, June 16th will be paid a $0.24 dividend. The ex-dividend date is Monday, June 16th. This is a positive change from Curtiss-Wright's previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 0.23%. Curtiss-Wright's dividend payout ratio is presently 8.54%.

Analysts Set New Price Targets

Several research analysts have recently commented on CW shares. Stifel Nicolaus reduced their target price on Curtiss-Wright from $331.00 to $309.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Citigroup reduced their target price on Curtiss-Wright from $450.00 to $424.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Truist Financial reduced their target price on Curtiss-Wright from $357.00 to $338.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Finally, StockNews.com upgraded shares of Curtiss-Wright from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $377.43.

Curtiss-Wright 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.