US Bancorp DE Lowers Position in Curtiss-Wright Corporation $CW

US Bancorp DE lessened its position in Curtiss-Wright Corporation (NYSE:CW) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,619 shares of the aerospace company’s stock after selling 167 shares during the quarter. US Bancorp DE’s holdings in Curtiss-Wright were worth $3,722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CW. Nuveen LLC purchased a new position in shares of Curtiss-Wright in the 1st quarter valued at approximately $70,357,000. Bank of New York Mellon Corp lifted its stake 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 during the period. Millennium Management LLC lifted its stake in shares of Curtiss-Wright by 135.0% in the 1st quarter. Millennium Management LLC now owns 154,158 shares of the aerospace company’s stock valued at $48,910,000 after purchasing an additional 88,557 shares during the period. Bank of Nova Scotia lifted its stake in shares of 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 during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Curtiss-Wright by 25.6% in the 1st quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company’s stock valued at $81,761,000 after purchasing an additional 54,289 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Up 2.1%

Curtiss-Wright stock opened at $550.60 on Tuesday. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of 46.46, a PEG ratio of 3.06 and a beta of 1.14. The stock has a fifty day simple moving average of $506.00 and a two-hundred day simple moving average of $447.98. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $561.49. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35.

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

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. Curtiss-Wright’s payout ratio is presently 8.10%.

Insider Activity at Curtiss-Wright

In related news, VP John C. Watts sold 1,110 shares of Curtiss-Wright stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $480.50, for a total value of $533,355.00. Following the completion of the sale, the vice president owned 3,863 shares of the company’s stock, valued at $1,856,171.50. The trade was 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 insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on CW. Morgan Stanley raised their price objective on Curtiss-Wright from $405.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Wall Street Zen lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Truist Financial reduced their price objective on Curtiss-Wright from $356.00 to $338.00 and set a “hold” rating for the company in a research report on Friday, July 11th. Citigroup raised their price objective on Curtiss-Wright from $525.00 to $568.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $625.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $492.86.

Curtiss-Wright Company 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.