Allspring Global Investments Holdings LLC Purchases 6,261 Shares of Curtiss-Wright Corporation $CW

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Curtiss-Wright Corporation by 1.8%, acquiring an additional 6,261 shares, bringing its total ownership to 349,774 shares valued at approximately $166.7 million.
• Various large institutional investors, including Bank of New York Mellon and Millennium Management, have significantly increased their holdings in Curtiss-Wright during the first quarter of the year.
• Curtiss-Wright's stock has received favorable ratings from analysts, with a target price ranging from $338 to $568, indicating a generally positive outlook despite a recent 2.8% decrease in stock price.

Allspring Global Investments Holdings LLC boosted its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 349,774 shares of the aerospace company's stock after acquiring an additional 6,261 shares during the period. Allspring Global Investments Holdings LLC owned 0.93% of Curtiss-Wright worth $166,713,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CW. Nuveen LLC bought a new stake in Curtiss-Wright in the 1st quarter worth $70,357,000. Bank of New York Mellon Corp grew its holdings in Curtiss-Wright by 23.3% in the 1st quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock worth $175,417,000 after acquiring an additional 104,393 shares during the last quarter. Millennium Management LLC grew its holdings in Curtiss-Wright by 135.0% in the 1st quarter. Millennium Management LLC now owns 154,158 shares of the aerospace company's stock worth $48,910,000 after acquiring an additional 88,557 shares during the last quarter. Bank of Nova Scotia grew its holdings in Curtiss-Wright by 2,460.9% in the 1st quarter. Bank of Nova Scotia now owns 91,500 shares of the aerospace company's stock worth $29,030,000 after acquiring an additional 87,927 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Curtiss-Wright by 25.6% in the 1st quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company's stock worth $81,761,000 after acquiring an additional 54,289 shares during the last quarter. Institutional investors own 82.71% of the company's stock.

Insiders Place Their Bets

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the sale, the vice president directly owned 3,863 shares in the company, valued at approximately $1,856,171.50. This trade represents a 22.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CW shares. Weiss Ratings reissued a "buy (b)" rating on shares of Curtiss-Wright in a report on Wednesday, October 8th. Morgan Stanley raised 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. Wall Street Zen cut shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Truist Financial dropped their target price on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research report on Friday, July 11th. Finally, Citigroup raised 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. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $492.86.

Curtiss-Wright Stock Down 2.8%

NYSE:CW opened at $539.07 on Monday. The firm has a market cap of $20.31 billion, a P/E ratio of 45.49, a P/E/G ratio of 3.06 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. Curtiss-Wright Corporation has a fifty-two week low of $266.88 and a fifty-two week high of $561.49. The firm has a 50-day simple moving average of $504.92 and a two-hundred day simple moving average of $446.35.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $0.10. The business had revenue of $876.58 million during the quarter, compared to analyst estimates of $855.10 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. Curtiss-Wright's revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $2.67 EPS. Analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, September 26th. Curtiss-Wright's dividend payout ratio (DPR) is currently 8.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.