Covea Finance Has $21 Million Stock Holdings in Curtiss-Wright Corporation $CW

Key Points

• Covea Finance increased its stake in Curtiss-Wright Corporation by 118.2% in Q2, owning approximately 42,981 shares valued at about $20.998 million.
• Analysts have mixed ratings for CW, with five giving it a "Buy" rating and two a "Hold" rating, while the average price target is set at $468.14.
• Curtiss-Wright reported earnings of $3.23 per share in its last quarter, exceeding estimates and marking a year-over-year revenue increase of 11.7%.

Covea Finance increased its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 118.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,981 shares of the aerospace company's stock after purchasing an additional 23,281 shares during the quarter. Covea Finance owned approximately 0.11% of Curtiss-Wright worth $20,998,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CW. ProShare Advisors LLC grew its holdings in Curtiss-Wright by 6.3% during the 4th quarter. ProShare Advisors LLC now owns 1,775 shares of the aerospace company's stock worth $630,000 after acquiring an additional 105 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Curtiss-Wright by 5.7% during the 4th quarter. Squarepoint Ops LLC now owns 904 shares of the aerospace company's stock worth $321,000 after acquiring an additional 49 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Curtiss-Wright by 19.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,333 shares of the aerospace company's stock worth $50,865,000 after acquiring an additional 23,067 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in Curtiss-Wright during the 4th quarter worth approximately $202,000. Finally, Toronto Dominion Bank grew its holdings in Curtiss-Wright by 95.2% during the 4th quarter. Toronto Dominion Bank now owns 886 shares of the aerospace company's stock worth $314,000 after acquiring an additional 432 shares during the last quarter. 82.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CW has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley upped their price objective on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. 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. Truist Financial reduced their price objective on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Finally, 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. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Curtiss-Wright has an average rating of "Moderate Buy" and a consensus price target of $468.14.

Curtiss-Wright Stock Performance

CW opened at $518.10 on Tuesday. 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's fifty day moving average price is $490.43 and its two-hundred day moving average price is $425.48. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $525.84. The company has a market cap of $19.52 billion, a price-to-earnings ratio of 43.72, a PEG ratio of 3.15 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, topping 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 the consensus estimate of $855.10 million. During the same quarter in the prior year, the company posted $2.67 earnings per share. The business's revenue was up 11.7% on a year-over-year basis. On average, analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders 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 yield of 0.2%. Curtiss-Wright's dividend payout ratio is presently 8.10%.

Insiders Place Their Bets

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the company's stock in a transaction 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 transaction, the vice president owned 3,863 shares in the company, 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 SEC, which is accessible through this hyperlink. Insiders own 0.55% of the company's stock.

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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