Canandaigua National Bank & Trust Co. Trims Stock Position in Curtiss-Wright Corporation (NYSE:CW)

Canandaigua National Bank & Trust Co. lessened its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 36.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 905 shares of the aerospace company's stock after selling 524 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in Curtiss-Wright were worth $287,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CW. IFP Advisors Inc lifted its stake in shares of Curtiss-Wright by 8.9% in the 4th quarter. IFP Advisors Inc now owns 749 shares of the aerospace company's stock valued at $266,000 after purchasing an additional 61 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Curtiss-Wright during the 4th quarter worth approximately $237,000. Fisher Asset Management LLC increased its stake in shares of Curtiss-Wright by 47.3% in the 4th quarter. Fisher Asset Management LLC now owns 103,810 shares of the aerospace company's stock valued at $36,839,000 after acquiring an additional 33,356 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Curtiss-Wright by 85.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 228 shares of the aerospace company's stock valued at $82,000 after acquiring an additional 105 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in Curtiss-Wright during the fourth quarter worth $135,000. Institutional investors own 82.71% of the company's stock.

Wall Street Analyst Weigh In

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

Curtiss-Wright Stock Performance

Shares of NYSE CW traded down $11.89 during midday trading on Tuesday, reaching $476.66. The company's stock had a trading volume of 321,488 shares, compared to its average volume of 287,133. 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 stock has a market capitalization of $17.95 billion, a P/E ratio of 42.41, a PEG ratio of 3.20 and a beta of 1.13. The firm has a 50 day moving average price of $420.13 and a 200-day moving average price of $365.42. Curtiss-Wright Corporation has a 12-month low of $258.85 and a 12-month high of $490.71.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its 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. The firm had revenue of $805.65 million during the quarter, compared to analyst estimates of $767.32 million. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. The business's revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $1.99 EPS. As a group, equities analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be paid a $0.24 dividend. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is 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 presently 8.54%.

Insider Activity

In related news, CFO K Christopher Farkas sold 4,780 shares of the firm's 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 completion of the transaction, the chief financial officer directly owned 9,253 shares of the company's stock, valued at approximately $3,238,550. This trade represents a 34.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bruce D. Hoechner sold 1,900 shares of the business's stock in a transaction on 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 $2,026,304. The trade was a 29.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,130 shares of company stock valued at $2,726,412 over the last quarter. Company insiders own 0.55% of the company's stock.

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.