The Manufacturers Life Insurance Company Cuts Position in Curtiss-Wright Co. (NYSE:CW)

The Manufacturers Life Insurance Company lessened its position in shares of Curtiss-Wright Co. (NYSE:CW) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,848 shares of the aerospace company’s stock after selling 1,103 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Curtiss-Wright worth $10,468,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CW. Assenagon Asset Management S.A. purchased a new stake in Curtiss-Wright during the second quarter worth approximately $41,383,000. Cetera Advisors LLC lifted its position in shares of Curtiss-Wright by 178.7% during the 1st quarter. Cetera Advisors LLC now owns 3,974 shares of the aerospace company’s stock worth $1,017,000 after buying an additional 2,548 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Curtiss-Wright by 30,079.2% in 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 buying an additional 301,394 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Curtiss-Wright during the 2nd quarter worth $3,025,000. Finally, Sequoia Financial Advisors LLC lifted its position in Curtiss-Wright by 140.9% in the second quarter. Sequoia Financial Advisors LLC now owns 6,469 shares of the aerospace company’s stock valued at $1,753,000 after acquiring an additional 3,784 shares during the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. StockNews.com lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Stifel Nicolaus lowered Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price target on the stock. in a research report on Monday, November 18th. 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. Truist Financial lifted their target price 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 report on Tuesday, October 29th. They set an “overweight” rating and a $412.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus price target of $364.40.

Curtiss-Wright Price Performance

Curtiss-Wright stock opened at $368.08 on Tuesday. The business has a 50 day simple moving average of $354.39 and a 200-day simple moving average of $310.68. Curtiss-Wright Co. has a 12 month low of $212.05 and a 12 month high of $393.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.98 and a quick ratio of 1.39. The stock has a market capitalization of $13.97 billion, a PE ratio of 34.82 and a beta of 1.17.

Curtiss-Wright Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 22nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Friday, November 22nd. Curtiss-Wright’s payout ratio is 7.95%.

Insider Activity

In other Curtiss-Wright news, VP John C. Watts sold 412 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total value of $148,134.60. Following the completion of the transaction, the vice president now directly owns 4,183 shares of the company’s stock, valued at approximately $1,503,997.65. This trade represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

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.