AMG National Trust Bank Boosts Stock Position in Curtiss-Wright Corporation $CW

AMG National Trust Bank raised its holdings in Curtiss-Wright Corporation (NYSE:CW) by 100.0% during the first quarter, Holdings Channel reports. The institutional investor owned 2,336 shares of the aerospace company’s stock after buying an additional 1,168 shares during the period. AMG National Trust Bank’s holdings in Curtiss-Wright were worth $1,591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its holdings in Curtiss-Wright by 1.2% in the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after purchasing an additional 16,962 shares in the last quarter. Invesco Ltd. raised its holdings in Curtiss-Wright by 7.9% during the fourth quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company’s stock worth $671,231,000 after purchasing an additional 88,688 shares in the last quarter. Geode Capital Management LLC boosted its stake in Curtiss-Wright by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock valued at $464,130,000 after acquiring an additional 47,287 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Curtiss-Wright by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company’s stock worth $423,519,000 after purchasing an additional 39,515 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Curtiss-Wright by 9.3% in the 4th quarter. AQR Capital Management LLC now owns 533,264 shares of the aerospace company’s stock valued at $293,972,000 after purchasing an additional 45,589 shares during the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,500 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the sale, the chief executive officer directly owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of the transaction, the executive vice president owned 3,962 shares of the company’s stock, valued at $2,983,029.42. This trade represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 3,119 shares of company stock worth $2,257,998. 0.51% of the stock is owned by insiders.

Curtiss-Wright Price Performance

Curtiss-Wright stock opened at $751.58 on Thursday. The firm has a market capitalization of $27.76 billion, a PE ratio of 55.06, a P/E/G ratio of 3.46 and a beta of 0.86. Curtiss-Wright Corporation has a 52 week low of $463.00 and a 52 week high of $808.16. The firm’s 50-day simple moving average is $746.77 and its 200 day simple moving average is $699.21. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The firm had revenue of $913.69 million during the quarter, compared to the consensus estimate of $863.83 million. During the same period last year, the firm posted $2.82 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts predict that Curtiss-Wright Corporation will post 15.18 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.62%.

Analysts Set New Price Targets

CW has been the topic of a number of research reports. Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Citigroup boosted their price target on Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings cut Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Curtiss-Wright currently has an average rating of “Moderate Buy” and an average target price of $766.33.

About Curtiss-Wright

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.