CIBC Bancorp USA Inc. Takes Position in Curtiss-Wright Corporation $CW

CIBC Bancorp USA Inc. purchased a new position in shares of Curtiss-Wright Corporation (NYSE:CW) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 69,642 shares of the aerospace company’s stock, valued at approximately $37,812,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Curtiss-Wright in the 3rd quarter valued at approximately $2,781,000. Edmond DE Rothschild Holding S.A. grew its stake in shares of Curtiss-Wright by 108.0% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,336 shares of the aerospace company’s stock valued at $1,141,000 after buying an additional 1,213 shares in the last quarter. Inscription Capital LLC raised its holdings in shares of Curtiss-Wright by 248.3% in the 3rd quarter. Inscription Capital LLC now owns 2,553 shares of the aerospace company’s stock valued at $1,386,000 after buying an additional 1,820 shares during the period. Creative Planning lifted its stake in Curtiss-Wright by 30.4% during the 2nd quarter. Creative Planning now owns 5,572 shares of the aerospace company’s stock worth $2,722,000 after acquiring an additional 1,300 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Curtiss-Wright by 3.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,218 shares of the aerospace company’s stock valued at $100,567,000 after acquiring an additional 7,022 shares during the period. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Curtiss-Wright

In related news, EVP John C. Watts sold 652 shares of Curtiss-Wright stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $625.57, for a total transaction of $407,871.64. Following the sale, the executive vice president directly owned 3,890 shares in the company, valued at $2,433,467.30. This trade represents a 14.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO K Christopher Farkas sold 2,665 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,669,169.45. Following the completion of the transaction, the chief financial officer owned 7,358 shares of the company’s stock, valued at $4,608,536.14. This represents a 26.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 17,269 shares of company stock worth $10,797,098. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

CW has been the topic of several research reports. Truist Financial set a $603.00 price target on shares of Curtiss-Wright in a research report on Friday, January 9th. Stifel Nicolaus raised their price target on shares of Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $748.00 target price on shares of Curtiss-Wright in a report on Tuesday, February 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $760.00 price target on shares of Curtiss-Wright in a research report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $663.17.

Curtiss-Wright Stock Down 0.7%

Curtiss-Wright stock opened at $678.85 on Wednesday. The stock has a market cap of $25.03 billion, a PE ratio of 52.75, a P/E/G ratio of 3.33 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 1.00. The stock’s fifty day moving average is $667.50 and its two-hundred day moving average is $588.88. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $730.12.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, February 11th. The aerospace company reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.13. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The business had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. During the same quarter in the prior year, the business posted $3.27 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, sell-side analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 26th will be issued a $0.24 dividend. The ex-dividend date is Thursday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio is presently 7.46%.

Curtiss-Wright Company Profile

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.