M&T Bank Corp Trims Holdings in Curtiss-Wright Co. (NYSE:CW)

M&T Bank Corp reduced its stake in shares of Curtiss-Wright Co. (NYSE:CW) by 0.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,168 shares of the aerospace company’s stock after selling 37 shares during the quarter. M&T Bank Corp’s holdings in Curtiss-Wright were worth $2,027,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CW. Sumitomo Mitsui Trust Holdings Inc. raised its position in Curtiss-Wright by 30,079.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 302,396 shares of the aerospace company’s stock valued at $81,943,000 after purchasing an additional 301,394 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Curtiss-Wright in the 2nd quarter valued at about $3,025,000. Allspring Global Investments Holdings LLC increased its holdings in Curtiss-Wright by 22.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 93,098 shares of the aerospace company’s stock valued at $25,228,000 after buying an additional 16,815 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Curtiss-Wright during the third quarter worth $542,000. Finally, Fisher Asset Management LLC lifted its stake in shares of Curtiss-Wright by 8.4% during the 3rd quarter. Fisher Asset Management LLC now owns 70,454 shares of the aerospace company’s stock worth $23,158,000 after purchasing an additional 5,437 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Morgan Stanley increased their price objective on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus lowered Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 target price on the stock. in a research report on Monday, November 18th. Truist Financial upped their price objective on shares of Curtiss-Wright from $304.00 to $333.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Alembic Global Advisors assumed coverage on shares of Curtiss-Wright in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 target price for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $379.00.

Curtiss-Wright Trading Up 0.2 %

Shares of NYSE:CW opened at $366.92 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.98 and a debt-to-equity ratio of 0.39. Curtiss-Wright Co. has a 52-week low of $212.05 and a 52-week high of $393.40. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 2.96 and a beta of 1.18. The business has a 50-day moving average price of $362.34 and a 200-day moving average price of $316.84.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 22nd were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, November 22nd. Curtiss-Wright’s dividend payout ratio (DPR) is currently 7.95%.

Insider Transactions at Curtiss-Wright

In other news, CEO Lynn M. Bamford sold 7,129 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $368.80, for a total value of $2,629,175.20. Following the sale, the chief executive officer now owns 28,688 shares in the company, valued at $10,580,134.40. This represents a 19.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John C. Watts sold 412 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total value of $148,134.60. Following the transaction, the vice president now owns 4,183 shares of the company’s stock, valued at approximately $1,503,997.65. This represents a 8.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

Curtiss-Wright Company Profile

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.