Bessemer Group Inc. Purchases 3,088 Shares of Curtiss-Wright Corporation (NYSE:CW)

Bessemer Group Inc. boosted its holdings in shares of Curtiss-Wright Corporation (NYSE:CW) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,035 shares of the aerospace company’s stock after buying an additional 3,088 shares during the period. Bessemer Group Inc. owned approximately 0.21% of Curtiss-Wright worth $25,076,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CW. Vanguard Group Inc. grew its stake in Curtiss-Wright by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,634,028 shares of the aerospace company’s stock worth $1,289,608,000 after buying an additional 15,890 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Curtiss-Wright by 6.4% during the 4th quarter. Invesco Ltd. now owns 1,417,445 shares of the aerospace company’s stock worth $503,009,000 after acquiring an additional 84,635 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Curtiss-Wright by 16.2% during the 4th quarter. TD Asset Management Inc. now owns 766,413 shares of the aerospace company’s stock worth $271,977,000 after acquiring an additional 107,115 shares during the last quarter. Geode Capital Management LLC grew its position in Curtiss-Wright by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 743,934 shares of the aerospace company’s stock worth $264,071,000 after acquiring an additional 12,086 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Curtiss-Wright by 1.2% in the fourth quarter. Alliancebernstein L.P. now owns 592,326 shares of the aerospace company’s stock valued at $210,199,000 after acquiring an additional 6,971 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

CW opened at $476.51 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.89 and a quick ratio of 1.28. The stock’s 50 day simple moving average is $410.03 and its 200 day simple moving average is $362.99. The firm has a market cap of $17.95 billion, a price-to-earnings ratio of 42.39, a PEG ratio of 3.12 and a beta of 1.14. Curtiss-Wright Corporation has a 1 year low of $258.85 and a 1 year high of $484.05.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The firm had revenue of $805.65 million for the quarter, compared to analysts’ expectations of $767.32 million. During the same quarter last year, the business earned $1.99 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. As a group, analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.24 per share. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Monday, June 16th. Curtiss-Wright’s dividend payout ratio is currently 8.54%.

Insider Buying and Selling

In related news, Director Bruce D. Hoechner sold 1,900 shares of Curtiss-Wright stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $448.00, for a total value of $851,200.00. Following the sale, the director now owns 4,523 shares in the company, valued at $2,026,304. The trade was a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John C. Watts sold 450 shares of the company’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $449.36, for a total transaction of $202,212.00. Following the completion of the transaction, the vice president now owns 4,959 shares of the company’s stock, valued at $2,228,376.24. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,130 shares of company stock valued at $2,726,412 over the last ninety days. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CW has been the subject of several research analyst reports. Wall Street Zen lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 24th. Stifel Nicolaus dropped their target price on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Truist Financial cut their target price on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Robert W. Baird lifted their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Finally, Citigroup boosted their price objective on shares of Curtiss-Wright from $444.00 to $520.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $418.00.

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.