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

Bank of New York Mellon Corp increased its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 23.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 552,893 shares of the aerospace company's stock after acquiring an additional 104,393 shares during the quarter. 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.

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

Curtiss-Wright Trading Down 1.9%

Shares of NYSE:CW traded down $9.54 on Tuesday, hitting $481.86. The company had a trading volume of 306,337 shares, compared to its average volume of 287,523. The firm's 50-day simple moving average is $435.85 and its two-hundred day simple moving average is $369.96. Curtiss-Wright Corporation has a 1 year low of $258.85 and a 1 year high of $494.40. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $18.15 billion, a price-to-earnings ratio of 42.87, a P/E/G ratio of 3.20 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 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 firm had revenue of $805.65 million during the quarter, compared to analysts' expectations of $767.32 million. During the same period last year, the company posted $1.99 EPS. The company's quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CW. Wall Street Zen downgraded shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th. Citigroup increased their target price 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. Truist Financial cut their target price on shares of Curtiss-Wright from $357.00 to $338.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Robert W. Baird increased their target price 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. Finally, Stifel Nicolaus cut their target price on shares of 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 stock. According to MarketBeat.com, Curtiss-Wright currently has an average rating of "Moderate Buy" and a consensus price target of $418.00.

Insider Buying and Selling

In other Curtiss-Wright news, VP John C. Watts sold 450 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $449.36, for a total transaction of $202,212.00. Following the completion of the sale, the vice president directly owned 4,959 shares in the company, valued at approximately $2,228,376.24. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce D. Hoechner sold 1,900 shares of the firm's 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 sale, the director directly owned 4,523 shares in the company, valued at approximately $2,026,304. The trade was a 29.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,130 shares of company stock worth $2,726,412 in the last three months. 0.55% of the stock is owned by corporate insiders.

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.