Wolverine Asset Management LLC acquired a new stake in Curtiss-Wright Corporation (NYSE:CW – Free Report) during the 1st quarter, Holdings Channel.com reports. The firm acquired 1,500 shares of the aerospace company’s stock, valued at approximately $476,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ascent Group LLC raised its holdings in shares of Curtiss-Wright by 4.9% in the 4th quarter. Ascent Group LLC now owns 713 shares of the aerospace company’s stock valued at $253,000 after buying an additional 33 shares during the period. Baird Financial Group Inc. grew its stake in Curtiss-Wright by 1.6% during the 4th quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company’s stock worth $753,000 after purchasing an additional 34 shares in the last quarter. Portside Wealth Group LLC grew its stake in Curtiss-Wright by 1.6% during the 1st quarter. Portside Wealth Group LLC now owns 2,144 shares of the aerospace company’s stock worth $680,000 after purchasing an additional 34 shares in the last quarter. GeoWealth Management LLC grew its stake in Curtiss-Wright by 15.6% during the 4th quarter. GeoWealth Management LLC now owns 318 shares of the aerospace company’s stock worth $113,000 after purchasing an additional 43 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Curtiss-Wright by 4.7% during the 4th quarter. EP Wealth Advisors LLC now owns 951 shares of the aerospace company’s stock worth $337,000 after purchasing an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.
Wall Street Analyst Weigh In
CW has been the subject of several analyst reports. Robert W. Baird boosted their target price on Curtiss-Wright from $432.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Wall Street Zen cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Citigroup boosted their target price on Curtiss-Wright from $525.00 to $568.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Truist Financial lowered their target price on Curtiss-Wright from $356.00 to $338.00 and set a “hold” rating for the company in a research note on Friday, July 11th. Finally, Stifel Nicolaus boosted their target price on Curtiss-Wright from $450.00 to $457.00 and gave the stock a “hold” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Curtiss-Wright currently has an average rating of “Moderate Buy” and an average target price of $468.14.
Curtiss-Wright Trading Down 0.2%
NYSE:CW opened at $472.68 on Monday. The stock has a 50-day simple moving average of $478.09 and a 200-day simple moving average of $391.06. The stock has a market cap of $17.81 billion, a P/E ratio of 39.89, a P/E/G ratio of 2.95 and a beta of 1.18. Curtiss-Wright Corporation has a 1 year low of $266.88 and a 1 year high of $517.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95.
Curtiss-Wright (NYSE:CW – Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, topping 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 business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.67 EPS. As a group, analysts anticipate that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.
Curtiss-Wright Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 16th were given a $0.24 dividend. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright’s payout ratio is currently 8.10%.
Insider Transactions at Curtiss-Wright
In related news, VP John C. Watts sold 450 shares of the company’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $449.36, for a total value of $202,212.00. Following the completion of the sale, the vice president directly owned 4,959 shares of the company’s stock, valued at $2,228,376.24. This represents a 8.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruce D. Hoechner sold 1,900 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the sale, the director directly owned 4,523 shares of the company’s stock, valued at approximately $2,026,304. This trade represents a 29.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.
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