Curtiss-Wright Corporation $CW Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its position in Curtiss-Wright Corporation (NYSE:CW) by 72.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,621 shares of the aerospace company’s stock after selling 4,303 shares during the period. M&T Bank Corp’s holdings in Curtiss-Wright were worth $792,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CW. Panagora Asset Management Inc. raised its holdings in Curtiss-Wright by 46.3% during the second quarter. Panagora Asset Management Inc. now owns 127,003 shares of the aerospace company’s stock worth $62,047,000 after purchasing an additional 40,169 shares in the last quarter. Railway Pension Investments Ltd purchased a new position in shares of Curtiss-Wright during the 2nd quarter worth approximately $14,021,000. Lido Advisors LLC lifted its holdings in shares of Curtiss-Wright by 11.8% in the 2nd quarter. Lido Advisors LLC now owns 1,350 shares of the aerospace company’s stock valued at $660,000 after buying an additional 142 shares during the period. Schroder Investment Management Group boosted its stake in shares of Curtiss-Wright by 3,264.8% in the second quarter. Schroder Investment Management Group now owns 33,244 shares of the aerospace company’s stock valued at $16,241,000 after buying an additional 32,256 shares in the last quarter. Finally, Norges Bank acquired a new position in Curtiss-Wright during the second quarter worth $241,537,000. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $547.22 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $558.79 and its 200 day moving average price is $509.51. Curtiss-Wright Corporation has a 52 week low of $266.88 and a 52 week high of $612.28. The stock has a market cap of $20.18 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 2.86 and a beta of 0.93.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.12. The company had revenue of $869.00 million for the quarter, compared to the consensus estimate of $869.03 million. Curtiss-Wright had a net margin of 13.78% and a return on equity of 18.82%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.89 earnings per share. As a group, research analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, November 28th. Curtiss-Wright’s dividend payout ratio is 7.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial raised their target price on Curtiss-Wright from $525.00 to $537.00 and gave the company a “hold” rating in a report on Friday, November 7th. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $457.00 to $502.00 and gave the company a “hold” rating in a research note on Monday, October 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $625.00 price objective on shares of Curtiss-Wright in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Curtiss-Wright in a report on Monday, December 1st. Finally, Morgan Stanley boosted their price target on Curtiss-Wright from $565.00 to $645.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $562.83.

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.