Curtiss-Wright Corporation $CW Shares Bought by ArchPoint Investors

Key Points

• ArchPoint Investors increased its Curtiss-Wright stake by 6.3% in the fourth quarter, making the aerospace company its second-largest holding and about 5.5% of its portfolio.
• Analysts remain broadly constructive on NYSE:CW, with a consensus rating of Moderate Buy and an average price target of $746.67, though some firms are more cautious with Hold ratings.
• Curtiss-Wright reported strong quarterly results, topping EPS and revenue estimates, and also announced a quarterly dividend of $0.24 per share payable July 6.

ArchPoint Investors grew its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,050 shares of the aerospace company's stock after acquiring an additional 2,475 shares during the quarter. Curtiss-Wright comprises 5.5% of ArchPoint Investors' portfolio, making the stock its 2nd biggest position. ArchPoint Investors owned about 0.11% of Curtiss-Wright worth $23,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC increased its stake in Curtiss-Wright by 25.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after acquiring an additional 15 shares during the last quarter. IFP Advisors Inc increased its stake in Curtiss-Wright by 2.3% during the fourth quarter. IFP Advisors Inc now owns 698 shares of the aerospace company's stock worth $385,000 after acquiring an additional 16 shares during the last quarter. Summit Financial LLC increased its stake in Curtiss-Wright by 2.3% during the fourth quarter. Summit Financial LLC now owns 697 shares of the aerospace company's stock worth $384,000 after acquiring an additional 16 shares during the last quarter. Clearstead Advisors LLC increased its stake in Curtiss-Wright by 1.6% during the third quarter. Clearstead Advisors LLC now owns 1,067 shares of the aerospace company's stock worth $579,000 after acquiring an additional 17 shares during the last quarter. Finally, Mayflower Financial Advisors LLC increased its stake in Curtiss-Wright by 2.9% during the fourth quarter. Mayflower Financial Advisors LLC now owns 611 shares of the aerospace company's stock worth $337,000 after acquiring an additional 17 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $748.00 price target on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Stifel Nicolaus set a $724.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Citigroup upped their target price on Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $746.67.

Insider Transactions at Curtiss-Wright

In related news, VP Gary A. Ogilby sold 399 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of the transaction, the vice president owned 2,172 shares of the company's stock, valued at approximately $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of the transaction, the executive vice president directly owned 3,962 shares of the company's stock, valued at $2,983,029.42. This represents a 5.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,080 shares of company stock valued at $6,297,278 in the last three months. 0.51% of the stock is currently owned by company insiders.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $758.19 on Friday. Curtiss-Wright Corporation has a 1-year low of $458.74 and a 1-year high of $768.65. The business has a 50-day moving average of $726.95 and a 200-day moving average of $664.44. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of 55.54, a PEG ratio of 3.51 and a beta of 0.85.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The company had revenue of $913.69 million during the quarter, compared to the consensus estimate of $863.83 million. During the same quarter in the prior year, the business earned $2.82 earnings per share. The company's revenue was up 13.4% compared to the same quarter last year. On average, equities analysts anticipate that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. Curtiss-Wright's dividend payout ratio is currently 7.62%.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation NYSE: CW is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.

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