Covenant Partners LLC Invests $415,000 in Curtiss-Wright Corporation $CW

Key Points

• Covenant Partners LLC has invested $415,000 in Curtiss-Wright Corporation by acquiring 850 shares, indicating strong institutional interest in the aerospace company.
• Curtiss-Wright reported earnings of $3.23 per share for the last quarter, exceeding expectations and showcasing a 11.7% increase in revenue year-over-year.
• The company has a market capitalization of $20.82 billion and a strong balance sheet with a debt-to-equity ratio of 0.35.

Covenant Partners LLC purchased a new position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 850 shares of the aerospace company's stock, valued at approximately $415,000.

Other large investors have also made changes to their positions in the company. 1 North Wealth Services LLC acquired a new position in shares of Curtiss-Wright during the first quarter worth $32,000. Private Trust Co. NA increased its position in shares of Curtiss-Wright by 13,800.0% in the 1st quarter. Private Trust Co. NA now owns 139 shares of the aerospace company's stock valued at $44,000 after acquiring an additional 138 shares during the period. West Oak Capital LLC acquired a new position in shares of Curtiss-Wright in the 2nd quarter valued at $49,000. Tsfg LLC increased its position in shares of Curtiss-Wright by 112.7% in the 1st quarter. Tsfg LLC now owns 217 shares of the aerospace company's stock valued at $69,000 after acquiring an additional 115 shares during the period. Finally, Flaharty Asset Management LLC acquired a new position in shares of Curtiss-Wright in the 1st quarter valued at $69,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Price Performance

Shares of CW opened at $552.61 on Wednesday. The business's 50-day moving average is $513.25 and its two-hundred day moving average is $457.15. The company has a market capitalization of $20.82 billion, a P/E ratio of 46.63, a P/E/G ratio of 3.19 and a beta of 1.14. 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 fifty-two week low of $266.88 and a fifty-two week high of $575.07.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) 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 business had revenue of $876.58 million for the quarter, compared to analyst estimates of $855.10 million. During the same period in the prior year, the company posted $2.67 EPS. The company's revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, September 26th. Curtiss-Wright's dividend payout ratio is presently 8.10%.

Insider Activity

In other news, VP John C. Watts sold 1,110 shares of the 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 sale, the vice president directly owned 3,863 shares of the company's stock, valued at $1,856,171.50. This represents a 22.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CW has been the topic of several research reports. 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. Truist Financial upped their target price on Curtiss-Wright from $463.00 to $525.00 and gave the company a "hold" rating in a research report on Wednesday, October 15th. 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. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $625.00 price target on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus increased their price target on Curtiss-Wright from $457.00 to $502.00 and gave the stock a "hold" rating in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $526.00.

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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