Curtiss-Wright Co. (NYSE:CW) Stake Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of Curtiss-Wright Co. (NYSE:CW) by 4.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,991 shares of the aerospace company’s stock after selling 317 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Curtiss-Wright were worth $2,298,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CW. Boston Partners increased its holdings in shares of Curtiss-Wright by 3.0% in the 1st quarter. Boston Partners now owns 1,393,662 shares of the aerospace company’s stock valued at $356,684,000 after acquiring an additional 40,657 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Curtiss-Wright by 136.8% during the third quarter. Congress Asset Management Co. now owns 459,074 shares of the aerospace company’s stock worth $150,893,000 after purchasing an additional 265,205 shares during the period. International Assets Investment Management LLC lifted its position in shares of Curtiss-Wright by 32,425.8% in the 3rd quarter. International Assets Investment Management LLC now owns 404,946 shares of the aerospace company’s stock worth $133,102,000 after buying an additional 403,701 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 during the period. Finally, Van ECK Associates Corp grew its position in shares of Curtiss-Wright by 29.0% during the 3rd quarter. Van ECK Associates Corp now owns 253,726 shares of the aerospace company’s stock valued at $88,847,000 after buying an additional 56,966 shares during the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CW has been the subject of a number of research reports. StockNews.com downgraded Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. Alembic Global Advisors initiated coverage on Curtiss-Wright in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 target price on the stock. Morgan Stanley boosted their price target on shares of Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird increased their price objective on shares of Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 target price for the company. in a research note on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and an average target price of $364.40.

Curtiss-Wright Stock Performance

Shares of CW opened at $371.35 on Tuesday. The firm has a market capitalization of $14.09 billion, a PE ratio of 35.13 and a beta of 1.17. The company has a quick ratio of 1.39, a current ratio of 1.98 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $350.07 and a 200 day moving average price of $307.94. Curtiss-Wright Co. has a 52-week low of $209.01 and a 52-week high of $393.40.

Curtiss-Wright Announces Dividend

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

Insiders Place Their Bets

In other Curtiss-Wright news, VP John C. Watts sold 412 shares of the business’s 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 sale, the vice president now directly owns 4,183 shares in the company, valued at approximately $1,503,997.65. The trade was a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.67% of the stock is currently owned by insiders.

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.