Balefire LLC Buys Shares of 494 Curtiss-Wright Corporation $CW

Key Points

• Balefire LLC recently invested approximately $241,000, acquiring 494 shares of Curtiss-Wright Corporation during the second quarter.
• Curtiss-Wright's latest earnings report showcased a profit of $3.23 per share, surpassing analyst expectations and marking an 11.7% revenue increase compared to the previous year.
• The company announced a quarterly dividend of $0.24 per share, reflecting a dividend yield of 0.2% and a payout ratio of 8.10%.

Balefire LLC acquired a new stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 494 shares of the aerospace company's stock, valued at approximately $241,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position 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 worth $175,417,000 after acquiring an additional 104,393 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Curtiss-Wright by 1.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 343,513 shares of the aerospace company's stock worth $110,769,000 after purchasing an additional 5,007 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Curtiss-Wright by 25.6% in the first quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company's stock valued at $81,761,000 after purchasing an additional 54,289 shares during the period. GAMMA Investing LLC increased its stake in shares of Curtiss-Wright by 44,878.7% in the first quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock valued at $82,340,000 after purchasing an additional 258,950 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Curtiss-Wright by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 251,874 shares of the aerospace company's stock valued at $79,912,000 after buying an additional 14,684 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the company's stock in a transaction dated 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 directly owned 3,863 shares of the company's stock, valued at approximately $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company's stock.

Curtiss-Wright Price Performance

NYSE:CW traded up $3.38 during trading hours on Monday, reaching $518.10. 172,541 shares of the company's stock were exchanged, compared to its average volume of 239,106. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $19.52 billion, a P/E ratio of 43.72, a price-to-earnings-growth ratio of 3.15 and a beta of 1.15. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $525.84. The business's 50-day simple moving average is $490.43 and its two-hundred day simple moving average is $425.48.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $3.13 by $0.10. The company 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 company's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.67 EPS. Sell-side analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Wall Street Zen downgraded Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley raised their price target on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Citigroup increased their target price on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Stifel Nicolaus boosted their price target on shares of Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Finally, Truist Financial reduced their price target 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. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Curtiss-Wright has an average rating of "Moderate Buy" and an average target price of $468.14.

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.