Bank of New York Mellon Corp Raises Stake in Curtiss-Wright Corporation (NYSE:CW)

Bank of New York Mellon Corp increased its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 552,893 shares of the aerospace company's stock after purchasing 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Curtiss-Wright by 0.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,319 shares of the aerospace company's stock valued at $1,178,000 after purchasing an additional 29 shares during the period. Harbour Investments Inc. grew its position in shares of Curtiss-Wright by 10.6% in the fourth quarter. Harbour Investments Inc. now owns 312 shares of the aerospace company's stock valued at $111,000 after purchasing an additional 30 shares during the period. Ascent Group LLC grew its position in shares of Curtiss-Wright by 4.9% in the fourth quarter. Ascent Group LLC now owns 713 shares of the aerospace company's stock valued at $253,000 after purchasing an additional 33 shares during the period. Baird Financial Group Inc. grew its position in shares of Curtiss-Wright by 1.6% in the fourth quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company's stock valued at $753,000 after purchasing an additional 34 shares during the period. Finally, Portside Wealth Group LLC grew its position in shares of Curtiss-Wright by 1.6% in the first quarter. Portside Wealth Group LLC now owns 2,144 shares of the aerospace company's stock valued at $680,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 82.71% of the company's stock.

Curtiss-Wright Stock Performance

Curtiss-Wright stock traded up $1.66 during midday trading on Friday, hitting $476.15. 20,835 shares of the company's stock were exchanged, compared to its average volume of 287,361. Curtiss-Wright Corporation has a 12-month low of $258.85 and a 12-month high of $495.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.89. The stock has a market cap of $17.93 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 3.17 and a beta of 1.15. The firm's 50 day simple moving average is $443.91 and its 200 day simple moving average is $372.33.

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

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 16th were paid a $0.24 dividend. This is a boost from Curtiss-Wright's previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 0.20%. Curtiss-Wright's dividend payout ratio (DPR) is 8.54%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, Director Bruce D. Hoechner sold 1,900 shares of Curtiss-Wright stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $448.00, for a total transaction of $851,200.00. Following the completion of the transaction, the director owned 4,523 shares in the company, valued at approximately $2,026,304. The trade was a 29.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP John C. Watts sold 450 shares of Curtiss-Wright stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $449.36, for a total transaction of $202,212.00. Following the transaction, the vice president owned 4,959 shares of the company's stock, valued at approximately $2,228,376.24. The trade was a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,130 shares of company stock worth $2,726,412 over the last 90 days. Company insiders own 0.55% of the company's stock.

Curtiss-Wright Company 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.