Franklin Resources Inc. Grows Position in Curtiss-Wright Co. (NYSE:CW)

Franklin Resources Inc. raised its holdings in shares of Curtiss-Wright Co. (NYSE:CW) by 7.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,047 shares of the aerospace company’s stock after buying an additional 22,543 shares during the quarter. Franklin Resources Inc. owned about 0.87% of Curtiss-Wright worth $115,469,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of Curtiss-Wright by 32,425.8% in the third quarter. International Assets Investment Management LLC now owns 404,946 shares of the aerospace company’s stock valued at $133,102,000 after purchasing an additional 403,701 shares during the period. Congress Asset Management Co. boosted its stake in 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 buying an additional 265,205 shares during the period. World Investment Advisors LLC purchased a new position in Curtiss-Wright during the third quarter worth about $47,220,000. Van ECK Associates Corp boosted its stake in Curtiss-Wright by 79.2% during the second quarter. Van ECK Associates Corp now owns 196,760 shares of the aerospace company’s stock worth $53,318,000 after buying an additional 86,955 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Curtiss-Wright by 91.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 178,111 shares of the aerospace company’s stock worth $58,543,000 after buying an additional 85,013 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Insider Activity at Curtiss-Wright

In related news, VP John C. Watts sold 412 shares of Curtiss-Wright stock in a transaction 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 directly owns 4,183 shares in the company, valued at $1,503,997.65. This trade represents a 8.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lynn M. Bamford sold 7,129 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $368.80, for a total value of $2,629,175.20. Following the completion of the sale, the chief executive officer now directly owns 28,688 shares of the company’s stock, valued at approximately $10,580,134.40. This trade represents a 19.90 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by insiders.

Curtiss-Wright Stock Performance

NYSE:CW opened at $366.92 on Monday. The firm’s fifty day moving average price is $362.34 and its 200 day moving average price is $317.13. Curtiss-Wright Co. has a 1-year low of $212.05 and a 1-year 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 firm has a market cap of $13.92 billion, a price-to-earnings ratio of 34.71, a price-to-earnings-growth ratio of 2.96 and a beta of 1.18.

Curtiss-Wright Announces Dividend

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

Analyst Upgrades and Downgrades

CW has been the topic of several research reports. Truist Financial increased their price target on shares of Curtiss-Wright from $304.00 to $333.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Morgan Stanley raised their target price 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Curtiss-Wright in a research note on Thursday, December 5th. They issued a “buy” rating and a $452.00 price target on the stock. Alembic Global Advisors initiated coverage on shares of Curtiss-Wright in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 price target on the stock. Finally, Stifel Nicolaus lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price target on the stock. in a research note on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $379.00.

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.