CIBC Bancorp USA Inc. Buys New Stake in Curtiss-Wright Corporation $CW

CIBC Bancorp USA Inc. purchased a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 69,642 shares of the aerospace company’s stock, valued at approximately $37,812,000. CIBC Bancorp USA Inc. owned 0.19% of Curtiss-Wright as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CW. Clearstead Advisors LLC increased its stake in shares of Curtiss-Wright by 1.6% in the 3rd quarter. Clearstead Advisors LLC now owns 1,067 shares of the aerospace company’s stock valued at $579,000 after purchasing an additional 17 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Curtiss-Wright by 1.8% in the third quarter. Miracle Mile Advisors LLC now owns 1,020 shares of the aerospace company’s stock valued at $554,000 after buying an additional 18 shares in the last quarter. Huntington National Bank raised its stake in shares of Curtiss-Wright by 9.5% during the 3rd quarter. Huntington National Bank now owns 208 shares of the aerospace company’s stock worth $113,000 after buying an additional 18 shares during the period. Larson Financial Group LLC grew its stake in Curtiss-Wright by 53.8% in the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 21 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in Curtiss-Wright by 2.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 974 shares of the aerospace company’s stock worth $529,000 after acquiring an additional 26 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Wall Street Zen raised shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Citigroup boosted their price objective on Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and set a $760.00 target price on shares of Curtiss-Wright in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $748.00 target price on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $663.17.

Insider Buying and Selling at Curtiss-Wright

In other news, VP Gary A. Ogilby sold 625 shares of Curtiss-Wright stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $624.32, for a total transaction of $390,200.00. Following the transaction, the vice president owned 2,571 shares in the company, valued at $1,605,126.72. The trade was a 19.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John C. Watts sold 652 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $625.57, for a total transaction of $407,871.64. Following the completion of the sale, the executive vice president directly owned 3,890 shares of the company’s stock, valued at $2,433,467.30. This represents a 14.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 17,269 shares of company stock worth $10,797,098. Corporate insiders own 0.55% of the company’s stock.

Curtiss-Wright Trading Down 0.7%

CW opened at $678.85 on Wednesday. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 52.75, a price-to-earnings-growth ratio of 3.33 and a beta of 0.91. The company’s 50 day simple moving average is $667.50 and its two-hundred day simple moving average is $588.88. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $730.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 1.00.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 EPS for the quarter, beating the consensus estimate of $3.66 by $0.13. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The firm had revenue of $946.98 million during the quarter, compared to analysts’ expectations of $890.14 million. During the same quarter last year, the firm earned $3.27 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.46%.

Curtiss-Wright Company Profile

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.