Bank of New York Mellon Corp Trims Stake in Curtiss-Wright Corporation $CW

Bank of New York Mellon Corp cut its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 13.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 400,796 shares of the aerospace company’s stock after selling 59,893 shares during the period. Bank of New York Mellon Corp’s holdings in Curtiss-Wright were worth $220,946,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of Curtiss-Wright by 0.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 213,292 shares of the aerospace company’s stock valued at $117,582,000 after acquiring an additional 1,864 shares during the last quarter. Westpac Banking Corp acquired a new position in Curtiss-Wright during the 4th quarter worth about $94,000. Natixis Advisors LLC lifted its stake in Curtiss-Wright by 13.3% during the 4th quarter. Natixis Advisors LLC now owns 43,653 shares of the aerospace company’s stock worth $24,065,000 after acquiring an additional 5,139 shares in the last quarter. Root Financial Partners LLC lifted its stake in Curtiss-Wright by 38.7% during the 4th quarter. Root Financial Partners LLC now owns 129 shares of the aerospace company’s stock worth $71,000 after acquiring an additional 36 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. boosted its stake in shares of Curtiss-Wright by 62.4% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 19,489 shares of the aerospace company’s stock valued at $10,744,000 after purchasing an additional 7,489 shares during the period. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $760.00 price objective on shares of Curtiss-Wright in a research report on Friday, February 13th. Citigroup increased their price target on Curtiss-Wright from $728.00 to $775.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $748.00 price objective on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Finally, Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $746.67.

Curtiss-Wright Stock Down 1.2%

CW stock opened at $734.28 on Friday. The company has a fifty day moving average price of $719.93 and a 200 day moving average price of $657.51. Curtiss-Wright Corporation has a 12 month low of $443.00 and a 12 month high of $760.72. The company has a market cap of $27.12 billion, a price-to-earnings ratio of 53.79, a price-to-earnings-growth ratio of 3.45 and a beta of 0.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS 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 quarter in the prior year, the firm earned $2.82 EPS. Curtiss-Wright’s revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts expect that Curtiss-Wright Corporation will post 15.15 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Monday, June 15th. Curtiss-Wright’s dividend payout ratio (DPR) is 7.03%.

Insider Transactions at Curtiss-Wright

In related news, COO Kevin Rayment sold 907 shares of Curtiss-Wright stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $677.38, for a total value of $614,383.66. Following the transaction, the chief operating officer directly owned 31,493 shares in the company, valued at $21,332,728.34. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lynn M. Bamford sold 3,225 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $676.70, for a total transaction of $2,182,357.50. Following the completion of the sale, the chief executive officer owned 50,634 shares of the company’s stock, valued at approximately $34,264,027.80. The trade was a 5.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,181 shares of company stock worth $4,204,919 over the last quarter. 0.51% of the stock is currently owned by corporate insiders.

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.