Appleton Partners Inc. MA Cuts Stake in Curtiss-Wright Corporation $CW

Key Points

• Appleton Partners Inc. MA reduced its stake in Curtiss-Wright Corporation by 5.7%, holding approximately 22,743 shares valued at $11,111,000 after selling 1,366 shares in the second quarter.
• A variety of institutional investors have been active during the first quarter, with Nuveen LLC acquiring a new stake valued at approximately $70.36 million and Bank of Nova Scotia increasing its stake by a remarkable 2,460.9%.
• Curtiss-Wright reported quarterly earnings of $3.23 per share, surpassing expectations and indicating strong revenue growth of 11.7% compared to the same period last year.

Appleton Partners Inc. MA lowered its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,743 shares of the aerospace company's stock after selling 1,366 shares during the quarter. Appleton Partners Inc. MA owned approximately 0.06% of Curtiss-Wright worth $11,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CW. Nuveen LLC purchased a new stake in shares of Curtiss-Wright during the first quarter valued at approximately $70,357,000. Wedge Capital Management L L P NC purchased a new stake in shares of Curtiss-Wright during the first quarter valued at approximately $55,639,000. Bank of New York Mellon Corp boosted its stake in shares of Curtiss-Wright by 23.3% during the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock valued at $175,417,000 after purchasing an additional 104,393 shares during the period. Millennium Management LLC boosted its stake in shares of Curtiss-Wright by 135.0% during the first quarter. Millennium Management LLC now owns 154,158 shares of the aerospace company's stock valued at $48,910,000 after purchasing an additional 88,557 shares during the period. Finally, Bank of Nova Scotia boosted its stake in shares of Curtiss-Wright by 2,460.9% during the first quarter. Bank of Nova Scotia now owns 91,500 shares of the aerospace company's stock valued at $29,030,000 after purchasing an additional 87,927 shares during the period. Hedge funds and other institutional investors own 82.71% of the company's stock.

Insider Buying and Selling at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the firm's stock in a transaction 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 directly owned 3,863 shares in the company, valued at $1,856,171.50. This trade represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by insiders.

Curtiss-Wright Price Performance

CW opened at $538.42 on Monday. The stock has a fifty day simple moving average of $499.23 and a two-hundred day simple moving average of $438.73. 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 market cap of $20.29 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 3.29 and a beta of 1.14. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $550.88.

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

Curtiss-Wright Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, September 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. Curtiss-Wright's dividend payout ratio (DPR) is presently 8.10%.

Wall Street Analyst Weigh In

CW has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Truist Financial decreased their target price on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a report on Friday, July 11th. Citigroup upped their target price on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen downgraded Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Stifel Nicolaus upped their target price on Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a report on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $468.14.

About Curtiss-Wright

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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