National Bank of Canada FI Boosts Stock Holdings in Curtiss-Wright Corporation (NYSE:CW)

Key Points

• National Bank of Canada FI increased its stake in Curtiss-Wright Corporation by 25.7%, acquiring a total of 63,277 shares worth approximately $20 million, according to recent SEC filings.
• Curtiss-Wright recently reported $3.23 earnings per share for the quarter, exceeding analysts' expectations, with a revenue of $876.58 million, marking an 11.7% increase compared to the same quarter last year.
• The company announced a new quarterly dividend of $0.24 per share, which is an increase from the previous dividend of $0.21, reflecting a positive shift in its financial performance.

National Bank of Canada FI increased its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 25.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,277 shares of the aerospace company's stock after acquiring an additional 12,933 shares during the quarter. National Bank of Canada FI owned approximately 0.17% of Curtiss-Wright worth $20,075,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CW. Russell Investments Group Ltd. lifted its stake in Curtiss-Wright by 93.9% in the fourth quarter. Russell Investments Group Ltd. now owns 18,515 shares of the aerospace company's stock worth $6,571,000 after acquiring an additional 8,967 shares during the period. Cerity Partners LLC raised its holdings in Curtiss-Wright by 6.5% in the fourth quarter. Cerity Partners LLC now owns 7,096 shares of the aerospace company's stock worth $2,444,000 after purchasing an additional 435 shares in the last quarter. Bank of Montreal Can raised its holdings in Curtiss-Wright by 10.7% in the fourth quarter. Bank of Montreal Can now owns 5,388 shares of the aerospace company's stock worth $1,912,000 after purchasing an additional 519 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Curtiss-Wright by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 34,900 shares of the aerospace company's stock worth $12,385,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Curtiss-Wright in the fourth quarter worth about $31,497,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Curtiss-Wright news, VP John C. Watts sold 450 shares of the firm's stock in a transaction that occurred on 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 approximately $2,228,376.24. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the director directly owned 4,523 shares of the company's stock, valued at $2,026,304. This represents a 29.58% decrease in their ownership of the stock. 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 Curtiss-Wright stock traded up $1.27 during midday trading on Friday, hitting $493.42. The company had a trading volume of 61,262 shares, compared to its average volume of 318,801. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 3.04 and a beta of 1.18. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $481.97 and a 200 day simple moving average of $394.33. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $517.09.

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 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 company had revenue of $876.58 million during the quarter, compared to analyst estimates of $855.10 million. During the same period last year, the firm posted $2.67 EPS. Curtiss-Wright's revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on CW. Robert W. Baird boosted their target price 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. 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 report on Monday, July 14th. Morgan Stanley boosted their target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Stifel Nicolaus boosted their target price on shares of Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a report on Friday, August 8th. 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 report on Friday, July 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Curtiss-Wright currently has an average rating of "Moderate Buy" and a consensus price target of $468.14.

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.