M&T Bank Corp Purchases 76,590 Shares of Curtiss-Wright Corporation $CW

M&T Bank Corp boosted its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 5,993.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,868 shares of the aerospace company’s stock after purchasing an additional 76,590 shares during the period. M&T Bank Corp’s holdings in Curtiss-Wright were worth $42,926,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Curtiss-Wright during the 3rd quarter valued at about $2,781,000. SG Americas Securities LLC grew its holdings in Curtiss-Wright by 738.8% during the 4th quarter. SG Americas Securities LLC now owns 26,003 shares of the aerospace company’s stock valued at $14,335,000 after purchasing an additional 22,903 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in Curtiss-Wright during the 3rd quarter valued at about $37,812,000. Inscription Capital LLC grew its holdings in Curtiss-Wright by 248.3% during the 3rd quarter. Inscription Capital LLC now owns 2,553 shares of the aerospace company’s stock valued at $1,386,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Curtiss-Wright by 7.2% during the 3rd quarter. Fisher Asset Management LLC now owns 120,535 shares of the aerospace company’s stock valued at $65,443,000 after purchasing an additional 8,095 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors.

Insider Activity at Curtiss-Wright

In related news, VP Gary A. Ogilby sold 252 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $689.14, for a total transaction of $173,663.28. Following the completion of the sale, the vice president owned 2,571 shares of the company’s stock, valued at $1,771,778.94. This represents a 8.93% 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, COO Kevin Rayment sold 907 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $677.38, for a total transaction of $614,383.66. Following the sale, the chief operating officer directly owned 31,493 shares of the company’s stock, valued at $21,332,728.34. The trade was a 2.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,717 shares of company stock valued at $14,533,791 over the last three months. Company insiders own 0.51% of the company’s stock.

Curtiss-Wright Price Performance

NYSE CW opened at $710.77 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.44. The firm’s 50 day moving average price is $698.43 and its 200-day moving average price is $623.59. Curtiss-Wright Corporation has a 52-week low of $324.89 and a 52-week high of $748.14. The company has a market cap of $26.23 billion, a PE ratio of 55.23, a P/E/G ratio of 3.41 and a beta of 0.91.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.66 by $0.13. Curtiss-Wright had a net margin of 13.84% and a return on equity of 19.28%. The firm had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. During the same period last year, the firm earned $3.27 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Sell-side analysts forecast that Curtiss-Wright Corporation will post 15.06 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Thursday, March 26th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio is presently 7.46%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CW shares. Citigroup upped their price target on shares of Curtiss-Wright from $718.00 to $728.00 and gave the company a “neutral” rating in a report on Thursday, April 2nd. Morgan Stanley restated an “overweight” rating and issued a $760.00 target price on shares of Curtiss-Wright in a research note on Friday, February 13th. Stifel Nicolaus upped their target price on shares of Curtiss-Wright from $650.00 to $723.00 and gave the stock a “hold” rating in a research note on Tuesday, April 14th. Truist Financial set a $603.00 target price on shares of Curtiss-Wright in a research note on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $748.00 target price on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $677.00.

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.