Curtiss-Wright Corporation (NYSE:CW) Holdings Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 23.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 552,893 shares of the aerospace company's stock after purchasing an additional 104,393 shares during the quarter. Bank of New York Mellon Corp owned 1.47% of Curtiss-Wright worth $175,417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CW. Cambridge Investment Research Advisors Inc. boosted its holdings in Curtiss-Wright by 98.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,664 shares of the aerospace company's stock worth $1,163,000 after purchasing an additional 1,817 shares during the period. Sowell Financial Services LLC bought a new position in shares of Curtiss-Wright in the 1st quarter worth about $240,000. Janney Montgomery Scott LLC boosted its holdings in shares of Curtiss-Wright by 37.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,652 shares of the aerospace company's stock valued at $1,159,000 after buying an additional 999 shares during the period. Mission Wealth Management LP acquired a new position in shares of Curtiss-Wright in the 1st quarter valued at about $206,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Curtiss-Wright by 9.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,928 shares of the aerospace company's stock valued at $2,198,000 after buying an additional 575 shares during the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CW. Wall Street Zen downgraded Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th. Citigroup boosted their price objective on Curtiss-Wright from $444.00 to $520.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Robert W. Baird increased their target price on Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Truist Financial reduced their price target on shares of Curtiss-Wright from $357.00 to $338.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Finally, Stifel Nicolaus dropped their price objective on shares of Curtiss-Wright from $331.00 to $309.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $418.00.

Curtiss-Wright Stock Performance

Shares of CW traded up $1.52 during trading hours on Wednesday, reaching $482.75. 226,580 shares of the company's stock traded hands, compared to its average volume of 288,024. Curtiss-Wright Corporation has a twelve month low of $258.85 and a twelve month high of $493.95. The business's fifty day simple moving average is $438.68 and its two-hundred day simple moving average is $370.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.89 and a quick ratio of 1.28. The firm has a market capitalization of $18.18 billion, a price-to-earnings ratio of 42.95, a P/E/G ratio of 3.16 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.39 by $0.43. The firm had revenue of $805.65 million for the quarter, compared to analysts' expectations of $767.32 million. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. Curtiss-Wright's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $1.99 EPS. Analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 16th were issued a dividend of $0.24 per share. 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 0.20%. 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 Curtiss-Wright stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $350.00, for a total value of $1,673,000.00. Following the transaction, the chief financial officer owned 9,253 shares in the company, valued at approximately $3,238,550. The trade was a 34.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John C. Watts sold 450 shares of the stock in a transaction 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 sale, the vice president 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 have sold 7,130 shares of company stock worth $2,726,412. 0.55% of the stock is owned by corporate insiders.

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.