Penobscot Investment Management Company Inc. Makes New $201,000 Investment in Curtiss-Wright Co. (NYSE:CW)

Penobscot Investment Management Company Inc. purchased a new stake in Curtiss-Wright Co. (NYSE:CW) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 900 shares of the aerospace company’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in shares of Curtiss-Wright by 59.2% during the fourth quarter. Van ECK Associates Corp now owns 36,119 shares of the aerospace company’s stock worth $8,047,000 after purchasing an additional 13,425 shares in the last quarter. Retirement Systems of Alabama lifted its position in Curtiss-Wright by 2.2% during the fourth quarter. Retirement Systems of Alabama now owns 98,438 shares of the aerospace company’s stock valued at $21,931,000 after purchasing an additional 2,154 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its stake in Curtiss-Wright by 2.5% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 2,495 shares of the aerospace company’s stock worth $556,000 after buying an additional 61 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Curtiss-Wright by 39.4% in the 4th quarter. Russell Investments Group Ltd. now owns 15,094 shares of the aerospace company’s stock worth $3,363,000 after buying an additional 4,270 shares during the last quarter. Finally, Truist Financial Corp raised its position in shares of Curtiss-Wright by 16.4% during the 4th quarter. Truist Financial Corp now owns 12,485 shares of the aerospace company’s stock valued at $2,781,000 after buying an additional 1,756 shares in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO K Christopher Farkas sold 2,736 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $240.16, for a total transaction of $657,077.76. Following the completion of the transaction, the chief financial officer now directly owns 9,172 shares of the company’s stock, valued at $2,202,747.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO K Christopher Farkas sold 2,736 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $240.16, for a total value of $657,077.76. Following the sale, the chief financial officer now directly owns 9,172 shares in the company, valued at approximately $2,202,747.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Paul J. Ferdenzi sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $250.00, for a total value of $625,000.00. Following the transaction, the vice president now owns 15,942 shares of the company’s stock, valued at approximately $3,985,500. The disclosure for this sale can be found here. Insiders have sold a total of 12,451 shares of company stock valued at $3,030,512 in the last quarter. Insiders own 0.67% of the company’s stock.

Curtiss-Wright Stock Up 1.4 %

CW opened at $257.00 on Thursday. The company has a market cap of $9.84 billion, a P/E ratio of 27.93 and a beta of 1.18. Curtiss-Wright Co. has a 12 month low of $157.72 and a 12 month high of $261.46. The business’s 50-day moving average price is $247.55 and its 200-day moving average price is $227.61. The company has a current ratio of 2.13, a quick ratio of 1.50 and a debt-to-equity ratio of 0.45.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Thursday, February 15th. The aerospace company reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.24. The business had revenue of $785.79 million for the quarter, compared to analysts’ expectations of $737.09 million. Curtiss-Wright had a return on equity of 16.61% and a net margin of 12.46%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.92 EPS. On average, equities analysts expect that Curtiss-Wright Co. will post 10.16 EPS for the current year.

Curtiss-Wright Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 annualized dividend and a yield of 0.31%. Curtiss-Wright’s payout ratio is currently 8.70%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CW shares. StockNews.com cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 27th. Stifel Nicolaus increased their price objective on Curtiss-Wright from $255.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Robert W. Baird boosted their target price on Curtiss-Wright from $246.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Truist Financial reiterated a “hold” rating and set a $240.00 price target (down from $250.00) on shares of Curtiss-Wright in a research report on Monday, March 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $260.25.

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.