Raymond James Financial Inc. Invests $31.50 Million in Curtiss-Wright Co. (NYSE:CW)

Raymond James Financial Inc. acquired a new position in Curtiss-Wright Co. (NYSE:CW) in the fourth quarter, HoldingsChannel reports. The fund acquired 88,755 shares of the aerospace company’s stock, valued at approximately $31,497,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CW. YANKCOM Partnership purchased a new stake in shares of Curtiss-Wright in the 4th quarter worth approximately $31,000. Wilmington Savings Fund Society FSB bought a new position in Curtiss-Wright in the third quarter worth approximately $53,000. UMB Bank n.a. lifted its holdings in Curtiss-Wright by 61.0% during the fourth quarter. UMB Bank n.a. now owns 169 shares of the aerospace company’s stock worth $60,000 after buying an additional 64 shares during the period. Morse Asset Management Inc bought a new stake in Curtiss-Wright during the 3rd quarter valued at $69,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Curtiss-Wright by 85.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 228 shares of the aerospace company’s stock valued at $82,000 after acquiring an additional 105 shares during the period. 82.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CW has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating on the stock in a research report on Monday. Truist Financial raised their price target on shares of Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a report on Tuesday, January 14th. Finally, Citigroup decreased their target price on shares of Curtiss-Wright from $450.00 to $424.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $380.14.

Insider Transactions at Curtiss-Wright

In other news, VP George P. Mcdonald sold 148 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $325.41, for a total value of $48,160.68. Following the sale, the vice president now owns 1,899 shares in the company, valued at $617,953.59. This represents a 7.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lynn M. Bamford sold 8,289 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $346.87, for a total transaction of $2,875,205.43. Following the completion of the sale, the chief executive officer now directly owns 38,905 shares in the company, valued at approximately $13,494,977.35. The trade was a 17.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,797 shares of company stock worth $7,436,255 over the last three months. 0.67% of the stock is currently owned by insiders.

Curtiss-Wright Stock Performance

Shares of Curtiss-Wright stock opened at $319.83 on Thursday. The firm has a market capitalization of $12.04 billion, a P/E ratio of 30.32, a PEG ratio of 2.48 and a beta of 1.03. Curtiss-Wright Co. has a 52 week low of $248.00 and a 52 week high of $393.40. The company has a quick ratio of 1.19, a current ratio of 1.69 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average price of $320.22 and a 200 day moving average price of $345.45.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Wednesday, February 12th. The aerospace company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.12 by $0.15. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. Sell-side analysts expect that Curtiss-Wright Co. will post 12.32 EPS for the current year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Stockholders of record on Thursday, March 27th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Thursday, March 27th. Curtiss-Wright’s dividend payout ratio is presently 7.96%.

Curtiss-Wright 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.