AlphaQuest LLC Increases Stock Holdings in Curtiss-Wright Corporation $CW

AlphaQuest LLC boosted its position in Curtiss-Wright Corporation (NYSE:CW) by 348.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,161 shares of the aerospace company’s stock after purchasing an additional 2,456 shares during the period. AlphaQuest LLC’s holdings in Curtiss-Wright were worth $1,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. boosted its position in Curtiss-Wright by 9.6% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 201,208 shares of the aerospace company’s stock worth $98,300,000 after purchasing an additional 17,585 shares during the last quarter. Covenant Partners LLC purchased a new position in Curtiss-Wright in the second quarter worth about $415,000. Whittier Trust Co. of Nevada Inc. boosted its position in Curtiss-Wright by 3.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 27,831 shares of the aerospace company’s stock worth $13,596,000 after purchasing an additional 919 shares during the last quarter. Whittier Trust Co. boosted its position in Curtiss-Wright by 2.2% in the second quarter. Whittier Trust Co. now owns 61,793 shares of the aerospace company’s stock worth $30,188,000 after purchasing an additional 1,321 shares during the last quarter. Finally, Securian Asset Management Inc. raised its stake in shares of Curtiss-Wright by 3.5% in the second quarter. Securian Asset Management Inc. now owns 2,944 shares of the aerospace company’s stock worth $1,438,000 after buying an additional 100 shares during the period. 82.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup raised their price objective on Curtiss-Wright from $525.00 to $568.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $625.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Stifel Nicolaus raised their price objective on Curtiss-Wright from $457.00 to $502.00 and gave the stock a “hold” rating in a research note on Monday. Truist Financial raised their price objective on Curtiss-Wright from $463.00 to $525.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen downgraded Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Curtiss-Wright currently has an average rating of “Moderate Buy” and an average target price of $526.00.

Curtiss-Wright Stock Up 2.2%

Shares of CW opened at $571.01 on Friday. The business’s 50 day moving average is $517.05 and its 200 day moving average is $461.50. The company has a market capitalization of $21.51 billion, a PE ratio of 48.19, a price-to-earnings-growth ratio of 3.17 and a beta of 1.14. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $575.07. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.10. The business had revenue of $876.58 million during the quarter, compared to analysts’ expectations of $855.10 million. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.67 EPS. Research analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, September 26th. Curtiss-Wright’s dividend payout ratio (DPR) is currently 8.10%.

Insiders Place Their Bets

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the transaction, the vice president owned 3,863 shares in the company, valued at $1,856,171.50. This trade represents a 22.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is owned by corporate insiders.

Curtiss-Wright Company 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.