Truist Financial Corp Trims Stock Holdings in Curtiss-Wright Corporation $CW

Key Points

• Truist Financial Corp reduced its stake in Curtiss-Wright Corporation by 5.0% in the second quarter, now holding 13,397 shares valued at approximately $6.54 million.
• Curtiss-Wright reported a quarterly revenue of $876.58 million, exceeding analyst estimates and reflecting an 11.7% year-over-year increase.
• The company recently announced a quarterly dividend of $0.24 per share with a payout ratio of 8.10%, scheduled for payment on October 10th.

Truist Financial Corp decreased its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,397 shares of the aerospace company's stock after selling 702 shares during the quarter. Truist Financial Corp's holdings in Curtiss-Wright were worth $6,545,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CW. Nuveen LLC purchased a new stake in shares of Curtiss-Wright during the first quarter worth approximately $70,357,000. Bank of New York Mellon Corp increased its holdings in shares of Curtiss-Wright by 23.3% in the 1st quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock valued at $175,417,000 after purchasing an additional 104,393 shares in the last quarter. Millennium Management LLC increased its holdings in Curtiss-Wright by 135.0% in the first quarter. Millennium Management LLC now owns 154,158 shares of the aerospace company's stock valued at $48,910,000 after buying an additional 88,557 shares in the last quarter. Bank of Nova Scotia increased its stake in Curtiss-Wright by 2,460.9% in the 1st quarter. Bank of Nova Scotia now owns 91,500 shares of the aerospace company's stock valued at $29,030,000 after purchasing an additional 87,927 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Curtiss-Wright by 25.6% in the first quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company's stock valued at $81,761,000 after buying an additional 54,289 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company's stock.

Curtiss-Wright Stock Performance

NYSE:CW opened at $553.88 on Tuesday. The stock has a market cap of $20.87 billion, a P/E ratio of 46.74, a PEG ratio of 3.29 and a beta of 1.14. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $554.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.35. The firm has a 50-day moving average of $500.51 and a two-hundred day moving average of $440.32.

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

Curtiss-Wright Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, September 26th. This represents a $0.96 annualized dividend and a yield of 0.2%. Curtiss-Wright's dividend payout ratio (DPR) is 8.10%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CW shares. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a research report on Saturday, September 27th. Citigroup boosted their price objective on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Morgan Stanley boosted their target price on Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $468.14.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $480.50, for a total value of $533,355.00. Following the transaction, the vice president owned 3,863 shares of the company's stock, valued at $1,856,171.50. This trade represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.

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