Arista Wealth Management LLC Buys Shares of 813 Curtiss-Wright Corporation $CW

Key Points

• Arista Wealth Management LLC has acquired 813 shares of Curtiss-Wright Corporation, valued at approximately $397,000, marking its first investment in the aerospace company.
• Despite insider VP John C. Watts selling 1,110 shares on August 21st, multiple institutional investors, including Nuveen LLC and Bank of Nova Scotia, have significantly increased their stakes in Curtiss-Wright.
• Curtiss-Wright reported quarterly earnings beating estimates with a revenue increase of 11.7% year-over-year, attributed to a strong performance reflected in its EPS of $3.23.

Arista Wealth Management LLC bought a new stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 813 shares of the aerospace company's stock, valued at approximately $397,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CW. Nuveen LLC purchased a new position in Curtiss-Wright in the 1st quarter valued at about $70,357,000. Bank of New York Mellon Corp lifted its holdings in Curtiss-Wright by 23.3% in the 1st 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 in the last quarter. TD Asset Management Inc lifted its holdings in Curtiss-Wright by 14.4% in the 2nd quarter. TD Asset Management Inc now owns 789,378 shares of the aerospace company's stock valued at $385,651,000 after purchasing an additional 99,643 shares in the last quarter. Millennium Management LLC lifted its holdings in Curtiss-Wright by 135.0% in the 1st 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 in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in Curtiss-Wright by 2,460.9% in the 1st 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 in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP John C. Watts sold 1,110 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the sale, the vice president owned 3,863 shares of the company's stock, valued at approximately $1,856,171.50. This trade represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company's stock.

Curtiss-Wright Trading Down 1.0%

NYSE CW opened at $544.71 on Friday. Curtiss-Wright Corporation has a one year low of $266.88 and a one year high of $575.07. The company's 50 day moving average price is $510.79 and its 200 day moving average price is $452.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. The firm has a market capitalization of $20.52 billion, a price-to-earnings ratio of 45.97, a PEG ratio of 3.12 and a beta of 1.14.

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

Curtiss-Wright Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CW. Stifel Nicolaus upped their price objective on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Citigroup upped their price objective on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Truist Financial upped their price objective on shares of Curtiss-Wright from $463.00 to $525.00 and gave the company a "hold" rating in a research note on Wednesday. Wall Street Zen downgraded shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $625.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $519.57.

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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