Curtiss-Wright Corporation (NYSE:CW) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Curtiss-Wright Corporation by 2.2%, selling 30,543 shares and now owning approximately 3.68% of the company's stock valued at $440 million.
• Analysts have recently increased their price targets for Curtiss-Wright, with Robert W. Baird raising it to $500 and Morgan Stanley to $550, reflecting a generally bullish outlook.
• Curtiss-Wright has announced a quarterly dividend increase from $0.21 to $0.24 per share, signaling a positive change in its financial health.

Invesco Ltd. lessened its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,386,902 shares of the aerospace company's stock after selling 30,543 shares during the quarter. Invesco Ltd. owned about 3.68% of Curtiss-Wright worth $440,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in Curtiss-Wright by 44,878.7% during the first quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock valued at $82,340,000 after buying an additional 258,950 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of Curtiss-Wright during the first quarter valued at about $55,639,000. Bank of New York Mellon Corp raised its stake in shares of Curtiss-Wright by 23.3% during the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock valued at $175,417,000 after acquiring an additional 104,393 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Curtiss-Wright during the fourth quarter valued at about $34,368,000. Finally, Raymond James Financial Inc. bought a new position in Curtiss-Wright in the fourth quarter worth about $31,497,000. Hedge funds and other institutional investors own 82.71% of the company's stock.

Insider Activity at Curtiss-Wright

In other news, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the transaction, the director owned 4,523 shares of the company's stock, valued at approximately $2,026,304. This trade represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP John C. Watts sold 450 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $449.36, for a total transaction of $202,212.00. Following the completion of the transaction, the vice president owned 4,959 shares of the company's stock, valued at $2,228,376.24. This represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.55% of the company's stock.

Curtiss-Wright Stock Performance

Shares of CW traded up $2.41 during trading hours on Friday, hitting $494.56. The stock had a trading volume of 104,977 shares, compared to its average volume of 319,077. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. The firm has a 50-day moving average price of $481.97 and a 200 day moving average price of $394.33. Curtiss-Wright Corporation has a fifty-two week low of $266.88 and a fifty-two week high of $517.09. The firm has a market capitalization of $18.64 billion, a price-to-earnings ratio of 41.66, a PEG ratio of 3.04 and a beta of 1.18.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CW shares. Citigroup increased their price target on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Robert W. Baird upped their price objective on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Truist Financial cut their price target on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Morgan Stanley increased their price target 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. Finally, Wall Street Zen downgraded shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $468.14.

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.