Bank of New York Mellon Corp Reduces Holdings in Curtiss-Wright Co. (NYSE:CW)

Bank of New York Mellon Corp trimmed its holdings in shares of Curtiss-Wright Co. (NYSE:CW) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,500 shares of the aerospace company’s stock after selling 19,162 shares during the period. Bank of New York Mellon Corp’s holdings in Curtiss-Wright were worth $159,159,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc grew its stake in Curtiss-Wright by 8.9% in the 4th quarter. IFP Advisors Inc now owns 749 shares of the aerospace company’s stock worth $266,000 after acquiring an additional 61 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Curtiss-Wright in the 4th quarter worth approximately $593,000. Hudson Edge Investment Partners Inc. grew its stake in Curtiss-Wright by 5.1% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 2,656 shares of the aerospace company’s stock worth $943,000 after acquiring an additional 130 shares during the period. Transcend Capital Advisors LLC purchased a new stake in Curtiss-Wright in the 4th quarter worth approximately $387,000. Finally, Paradigm Asset Management Co. LLC purchased a new stake in Curtiss-Wright in the 4th quarter worth approximately $142,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Performance

NYSE:CW opened at $322.24 on Friday. The firm’s fifty day simple moving average is $348.05 and its 200 day simple moving average is $344.00. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. Curtiss-Wright Co. has a twelve month low of $234.49 and a twelve month high of $393.40. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 2.48 and a beta of 1.19.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, February 12th. The aerospace company reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.12 by $0.15. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. As a group, equities research analysts expect that Curtiss-Wright Co. will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Thursday, March 27th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, March 27th. This represents a $0.84 dividend on an annualized basis and a yield of 0.26%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.96%.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 target price for the company. in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Curtiss-Wright in a research note on Thursday, December 5th. They issued a “buy” rating and a $452.00 target price for the company. Morgan Stanley lifted their price target on shares of Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup assumed coverage on shares of Curtiss-Wright in a report on Tuesday, January 21st. They issued a “buy” rating and a $410.00 price target on the stock. Finally, Truist Financial lifted their price target on shares of Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.86.

Insider Buying and Selling

In other Curtiss-Wright news, insider Paul J. Ferdenzi sold 1,907 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $346.98, for a total value of $661,690.86. Following the completion of the transaction, the insider now directly owns 18,405 shares of the company’s stock, valued at $6,386,166.90. This represents a 9.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP John C. Watts sold 622 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $347.05, for a total transaction of $215,865.10. Following the completion of the transaction, the vice president now directly owns 5,072 shares of the company’s stock, valued at approximately $1,760,237.60. The trade was a 10.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 116 shares of company stock valued at $35,278 and sold 23,064 shares valued at $8,157,322. 0.67% of the stock is 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.