Charter Capital Management LLC DE Purchases New Shares in Curtiss-Wright Corporation $CW

Key Points

• Charter Capital Management LLC DE has acquired a new stake in Curtiss-Wright Corporation, purchasing 1,786 shares worth approximately $873,000, which now represents 0.5% of its investment portfolio.
• Multiple institutional investors increased their ownership in Curtiss-Wright during the 2nd quarter, with Covea Finance growing its stake by 118.2%, bringing its total holdings to approximately $20.99 million.
• Curtiss-Wright recently declared a quarterly dividend of $0.24 per share, amounting to an annualized dividend yield of 0.2%, reflecting a payout ratio of 8.10%.

Charter Capital Management LLC DE purchased a new stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,786 shares of the aerospace company's stock, valued at approximately $873,000. Curtiss-Wright accounts for approximately 0.5% of Charter Capital Management LLC DE's investment portfolio, making the stock its 22nd biggest position.

Several other institutional investors have also added to or reduced their stakes in the company. Covea Finance boosted its stake in Curtiss-Wright by 118.2% in the 2nd quarter. Covea Finance now owns 42,981 shares of the aerospace company's stock valued at $20,998,000 after purchasing an additional 23,281 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new stake in Curtiss-Wright in the 2nd quarter valued at $1,853,000. West Oak Capital LLC bought a new stake in Curtiss-Wright in the 2nd quarter valued at $49,000. Counterpoint Mutual Funds LLC bought a new stake in Curtiss-Wright in the 2nd quarter valued at $783,000. Finally, CHICAGO TRUST Co NA bought a new stake in Curtiss-Wright in the 2nd quarter valued at $218,000. 82.71% of the stock is currently owned by institutional investors.

Insider Activity at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the business'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 owned 3,863 shares of the company's stock, valued at approximately $1,856,171.50. The trade was a 22.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.55% of the company's stock.

Curtiss-Wright Price Performance

Curtiss-Wright stock opened at $519.65 on Wednesday. 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 Corporation has a 52 week low of $266.88 and a 52 week high of $528.44. The stock has a market capitalization of $19.58 billion, a P/E ratio of 43.85, a price-to-earnings-growth ratio of 3.17 and a beta of 1.15. The stock has a fifty day moving average of $491.21 and a 200-day moving average of $426.13.

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, topping analysts' consensus estimates of $3.13 by $0.10. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The company had revenue of $876.58 million during the quarter, compared to analysts' expectations of $855.10 million. During the same quarter in the previous year, the firm earned $2.67 EPS. Curtiss-Wright's revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm 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 of this dividend is Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright's payout ratio is 8.10%.

Analyst Ratings Changes

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

Curtiss-Wright 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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