Curtiss-Wright Corporation $CW Stock: TD Waterhouse Canada Inc. Decreases Position

TD Waterhouse Canada Inc. trimmed its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 63.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,489 shares of the aerospace company’s stock after selling 71,642 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.11% of Curtiss-Wright worth $22,616,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Curtiss-Wright during the 2nd quarter worth $3,448,649,000. Primecap Management Co. CA purchased a new stake in shares of Curtiss-Wright in the 2nd quarter worth about $390,106,000. Bank of New York Mellon Corp purchased a new stake in shares of Curtiss-Wright in the 2nd quarter worth about $270,458,000. William Blair Investment Management LLC acquired a new stake in Curtiss-Wright in the 2nd quarter valued at about $240,442,000. Finally, First Trust Advisors LP grew its stake in Curtiss-Wright by 19.9% in the 1st quarter. First Trust Advisors LP now owns 206,021 shares of the aerospace company’s stock valued at $140,325,000 after acquiring an additional 34,191 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Stock Performance

NYSE CW opened at $502.67 on Friday. Curtiss-Wright Corporation has a fifty-two week low of $490.05 and a fifty-two week high of $808.16. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 2.27 and a beta of 0.88. The business has a fifty day moving average of $579.54 and a 200-day moving average of $679.84. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.10. The business had revenue of $924.01 million for the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.23 earnings per share. As a group, analysts predict that Curtiss-Wright Corporation will post 15.31 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, September 25th. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s dividend payout ratio is presently 7.16%.

Analyst Ratings Changes

CW has been the subject of several recent research reports. Citigroup dropped their target price on shares of Curtiss-Wright from $793.00 to $622.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Morgan Stanley set a $625.00 price target on shares of Curtiss-Wright in a report on Friday. Wall Street Zen downgraded shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Stifel Nicolaus increased their price target on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research report on Monday, July 20th. Finally, Guggenheim assumed coverage on shares of Curtiss-Wright in a research note on Monday, September 14th. They set a “buy” rating and a $786.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Curtiss-Wright presently has a consensus rating of “Moderate Buy” and an average price target of $717.50.

Insider Activity

In other Curtiss-Wright news, Director Larry D. Wyche sold 100 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total transaction of $59,674.00. Following the sale, the director directly owned 1,414 shares of the company’s stock, valued at $843,790.36. This trade represents a 6.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John C. Watts sold 1,035 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the sale, the executive vice president directly owned 2,736 shares in the company, valued at $1,694,842.56. This represents a 27.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.