HB Wealth Management LLC Purchases New Position in Curtiss-Wright Corporation (NYSE:CW)

Key Points

• HB Wealth Management LLC purchased 955 shares of Curtiss-Wright Corporation, valued at approximately $303,000, marking a significant investment during the first quarter.
• Analysts have raised price targets for Curtiss-Wright, with Morgan Stanley increasing their target to $550.00 and Robert W. Baird to $500.00, indicating a positive outlook on the stock.
• Curtiss-Wright recently increased its quarterly dividend from $0.21 to $0.24 per share, reflecting a commitment to returning value to shareholders.

HB Wealth Management LLC acquired a new position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 955 shares of the aerospace company's stock, valued at approximately $303,000.

Other large investors also recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its stake in Curtiss-Wright by 1,566.7% in the first quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company's stock valued at $32,000 after acquiring an additional 94 shares during the last quarter. Minot DeBlois Advisors LLC acquired a new stake in Curtiss-Wright in the fourth quarter valued at $35,000. Private Trust Co. NA lifted its stake in Curtiss-Wright by 13,800.0% in the first quarter. Private Trust Co. NA now owns 139 shares of the aerospace company's stock valued at $44,000 after acquiring an additional 138 shares during the last quarter. Ancora Advisors LLC acquired a new stake in Curtiss-Wright in the fourth quarter valued at $49,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Curtiss-Wright by 165.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the aerospace company's stock valued at $63,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 82.71% of the company's stock.

Curtiss-Wright Stock Performance

NYSE:CW traded up $3.13 during mid-day trading on Monday, reaching $496.71. 291,288 shares of the company's stock were exchanged, compared to its average volume of 310,753. Curtiss-Wright Corporation has a one year low of $258.85 and a one year high of $505.43. The firm has a market capitalization of $18.71 billion, a PE ratio of 44.19, a price-to-earnings-growth ratio of 3.10 and a beta of 1.18. The business's fifty day simple moving average is $472.92 and its two-hundred day simple moving average is $386.98. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.89.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.43. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The business had revenue of $805.65 million for the quarter, compared to analyst estimates of $767.32 million. During the same period last year, the firm earned $1.99 earnings per share. Curtiss-Wright's revenue for the quarter was up 13.0% compared to the same quarter last year. 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. Shareholders of record on Monday, June 16th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.96 annualized dividend and a yield of 0.2%. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.21. Curtiss-Wright's payout ratio is 8.54%.

Insider Activity

In other Curtiss-Wright news, VP John C. Watts sold 450 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $449.36, for a total value of $202,212.00. Following the transaction, the vice president directly owned 4,959 shares of the company's stock, valued at $2,228,376.24. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $448.00, for a total transaction of $851,200.00. Following the completion of the transaction, the director directly owned 4,523 shares in the company, valued at approximately $2,026,304. This 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 company insiders.

Wall Street Analysts Forecast Growth

CW has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Curtiss-Wright from $365.00 to $450.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Robert W. Baird raised their target price on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Truist Financial cut their target price on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Morgan Stanley boosted their price objective on Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Citigroup increased 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $467.14.

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.