PNC Financial Services Group Inc. Cuts Position in Curtiss-Wright Co. (NYSE:CW)

PNC Financial Services Group Inc. cut its stake in Curtiss-Wright Co. (NYSE:CW) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,587 shares of the aerospace company’s stock after selling 111 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Curtiss-Wright were worth $1,690,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CW. Janney Montgomery Scott LLC increased its holdings in shares of Curtiss-Wright by 28.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 2,009 shares of the aerospace company’s stock valued at $393,000 after acquiring an additional 450 shares during the period. HighTower Advisors LLC boosted its position in shares of Curtiss-Wright by 7.2% in the 3rd quarter. HighTower Advisors LLC now owns 7,782 shares of the aerospace company’s stock worth $1,533,000 after purchasing an additional 524 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Curtiss-Wright in the 3rd quarter worth $218,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Curtiss-Wright in the 3rd quarter worth $400,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Curtiss-Wright by 80.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 69,463 shares of the aerospace company’s stock worth $13,589,000 after purchasing an additional 30,972 shares in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Performance

Shares of CW opened at $275.08 on Friday. The stock has a 50-day moving average of $269.63 and a two-hundred day moving average of $245.25. Curtiss-Wright Co. has a one year low of $171.30 and a one year high of $286.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.38 and a current ratio of 2.02. The stock has a market cap of $10.54 billion, a P/E ratio of 28.33 and a beta of 1.22.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.24. The business had revenue of $713.17 million during the quarter, compared to analyst estimates of $664.01 million. Curtiss-Wright had a return on equity of 16.79% and a net margin of 12.78%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $1.53 EPS. As a group, research analysts predict that Curtiss-Wright Co. will post 10.27 EPS for the current year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.31%. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.20. Curtiss-Wright’s dividend payout ratio (DPR) is presently 8.65%.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, Director S Marce Fuller sold 5,300 shares of Curtiss-Wright stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $281.04, for a total transaction of $1,489,512.00. Following the completion of the transaction, the director now owns 25,770 shares in the company, valued at approximately $7,242,400.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Kevin Rayment sold 8,415 shares of Curtiss-Wright stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $281.67, for a total value of $2,370,253.05. Following the completion of the transaction, the chief operating officer now owns 19,914 shares in the company, valued at approximately $5,609,176.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director S Marce Fuller sold 5,300 shares of Curtiss-Wright stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $281.04, for a total value of $1,489,512.00. Following the completion of the transaction, the director now owns 25,770 shares of the company’s stock, valued at approximately $7,242,400.80. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CW shares. Truist Financial raised their price objective on Curtiss-Wright from $252.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Morgan Stanley raised their price objective on Curtiss-Wright from $284.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Robert W. Baird raised their price objective on Curtiss-Wright from $246.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their price target on Curtiss-Wright from $293.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, StockNews.com raised Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 5th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $302.50.

About Curtiss-Wright

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.