Mutual of America Capital Management LLC Has $6.15 Million Stake in Curtiss-Wright Corporation (NYSE:CW)

Key Points

• Mutual of America Capital Management LLC reduced its holdings in Curtiss-Wright Corporation by 3.3%, now owning $6.15 million worth of the aerospace firm's stock.
• Institutional investors own about 82.71% of Curtiss-Wright's stock, with significant increases in holdings from firms like GAMMA Investing LLC and Bank of New York Mellon Corp.
• Curtiss-Wright raised its quarterly dividend from $0.21 to $0.24, representing an annualized yield of 0.2% and a dividend payout ratio of 8.54%.

Mutual of America Capital Management LLC decreased its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,382 shares of the aerospace company's stock after selling 664 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.05% of Curtiss-Wright worth $6,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in shares of Curtiss-Wright by 23.3% in the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock worth $175,417,000 after buying an additional 104,393 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Curtiss-Wright by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 343,513 shares of the aerospace company's stock worth $110,769,000 after acquiring an additional 5,007 shares during the last quarter. Northern Trust Corp lifted its position in Curtiss-Wright by 21.4% during the 4th quarter. Northern Trust Corp now owns 329,918 shares of the aerospace company's stock worth $117,078,000 after acquiring an additional 58,207 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in Curtiss-Wright by 3.0% during the fourth quarter. Driehaus Capital Management LLC now owns 291,582 shares of the aerospace company's stock valued at $103,474,000 after acquiring an additional 8,447 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Curtiss-Wright by 44,878.7% in the first quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock valued at $82,340,000 after purchasing an additional 258,950 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

Curtiss-Wright Price Performance

Shares of NYSE:CW traded down $0.76 during midday trading on Friday, reaching $472.68. 473,213 shares of the company's stock were exchanged, compared to its average volume of 332,515. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.95. The company's 50 day simple moving average is $478.09 and its two-hundred day simple moving average is $390.95. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $517.09. The firm has a market capitalization of $17.80 billion, a PE ratio of 39.89, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18.

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

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 16th were paid a $0.24 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. This is a boost from Curtiss-Wright's previous quarterly dividend of $0.21. Curtiss-Wright's dividend payout ratio is presently 8.10%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CW shares. Morgan Stanley increased their target price on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Wall Street Zen cut Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Citigroup boosted their target price on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Robert W. Baird increased their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Finally, Truist Financial reduced their target price on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $468.14.

Insider Activity

In related news, VP John C. Watts sold 450 shares of Curtiss-Wright 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 transaction, the vice president directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was 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 of the company's stock, 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. 0.55% of the stock is currently 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.