JPMorgan Chase & Co. Boosts Holdings in Curtiss-Wright Corporation $CW

JPMorgan Chase & Co. lifted its holdings in Curtiss-Wright Corporation (NYSE:CW) by 2.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 178,196 shares of the aerospace company’s stock after purchasing an additional 4,979 shares during the period. JPMorgan Chase & Co. owned approximately 0.47% of Curtiss-Wright worth $87,058,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Penserra Capital Management LLC acquired a new position in shares of Curtiss-Wright in the second quarter worth $29,000. 1 North Wealth Services LLC purchased a new position in Curtiss-Wright in the first quarter valued at $32,000. West Oak Capital LLC acquired a new position in Curtiss-Wright during the 2nd quarter worth $49,000. Allworth Financial LP grew its stake in Curtiss-Wright by 155.8% during the 2nd quarter. Allworth Financial LP now owns 110 shares of the aerospace company’s stock worth $54,000 after purchasing an additional 67 shares in the last quarter. Finally, Flaharty Asset Management LLC purchased a new stake in Curtiss-Wright during the 1st quarter worth about $69,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Trading Up 1.5%

Shares of Curtiss-Wright stock opened at $563.74 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $554.90 and a 200-day simple moving average of $501.28. The stock has a market cap of $20.79 billion, a price-to-earnings ratio of 47.57, a PEG ratio of 3.41 and a beta of 1.12. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $612.28.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.12. The firm had revenue of $869.00 million during the quarter, compared to analysts’ expectations of $869.03 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. Curtiss-Wright’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.89 earnings per share. On average, equities analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, November 28th. Curtiss-Wright’s dividend payout ratio (DPR) is currently 7.82%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CW shares. Morgan Stanley lifted their price objective on Curtiss-Wright from $565.00 to $645.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Wall Street Zen cut shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $457.00 to $502.00 and gave the company a “hold” rating in a report on Monday, October 20th. Truist Financial lifted their price objective on shares of Curtiss-Wright from $525.00 to $537.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a report on Wednesday, October 8th. Five 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, the company has a consensus rating of “Moderate Buy” and an average price target of $562.83.

Curtiss-Wright 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.