Sequoia Financial Advisors LLC Has $9.92 Million Position in Curtiss-Wright Corporation $CW

Sequoia Financial Advisors LLC boosted its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 13.7% during the second quarter, Holdings Channel reports. The fund owned 13,097 shares of the aerospace company’s stock after acquiring an additional 1,583 shares during the period. Sequoia Financial Advisors LLC’s holdings in Curtiss-Wright were worth $9,924,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Curtiss-Wright during the 2nd quarter worth about $3,448,649,000. California State Teachers Retirement System increased its position in shares of Curtiss-Wright by 96,633.6% in the 2nd quarter. California State Teachers Retirement System now owns 40,844,780 shares of the aerospace company’s stock valued at $30,950,540,000 after buying an additional 40,802,556 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Curtiss-Wright by 114.8% during the fourth quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company’s stock worth $5,931,000 after purchasing an additional 5,749 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Curtiss-Wright by 39,282.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,587 shares of the aerospace company’s stock valued at $35,605,000 after buying an additional 64,423 shares during the period. Finally, Catalyst Funds Management Pty Ltd boosted its position in shares of Curtiss-Wright by 72.8% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 7,432 shares of the aerospace company’s stock worth $4,097,000 after buying an additional 3,132 shares during the period. 82.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CW has been the topic of several recent analyst reports. Wall Street Zen lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Piper Sandler started coverage on Curtiss-Wright in a research note on Wednesday, September 2nd. They set a “neutral” rating and a $665.00 target price on the stock. Weiss Ratings downgraded Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Stifel Nicolaus increased their price objective on Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a research report on Monday, July 20th. Finally, Citigroup lifted their target price on Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $765.71.

Insider Buying and Selling at Curtiss-Wright

In related news, EVP John Watts sold 1,035 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value of $641,141.10. Following the completion of the sale, the executive vice president directly owned 2,736 shares in the company, valued at $1,694,842.56. This represents a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Larry D. Wyche sold 100 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the sale, the director directly owned 1,414 shares of the company’s stock, valued at approximately $843,790.36. The trade was a 6.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company’s stock.

Curtiss-Wright Trading Down 1.0%

CW opened at $559.62 on Friday. The company’s 50 day moving average is $683.87 and its 200-day moving average is $708.04. The company has a market cap of $20.67 billion, a P/E ratio of 38.51, a PEG ratio of 2.55 and a beta of 0.84. Curtiss-Wright Corporation has a 1-year low of $490.66 and a 1-year high of $808.16. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.10. The company had revenue of $924.01 million during the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.23 earnings per share. Equities research analysts predict that Curtiss-Wright Corporation will post 15.27 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, September 25th. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s payout ratio is presently 7.16%.

About Curtiss-Wright

Curtiss-Wright Corporation (NYSE:CW) is a diversified industrial company that develops and manufactures highly engineered products and services for the aerospace, defense, commercial nuclear and general industrial markets. Its offerings include sensors, actuators, valves, pumps, electronic systems, embedded computing products, surface-treatment services and other components designed for demanding operating environments.

The company serves aerospace and defense customers with products used in aircraft, naval vessels, ground vehicles, missile systems and other defense platforms.