Woodline Partners LP Raises Stock Position in Curtiss-Wright Corporation $CW

Key Points

• Woodline Partners LP increased its stake in Curtiss-Wright Corporation by 53.8% in the first quarter, now owning approximately 0.18% of the company valued at $21.3 million.
• Curtiss-Wright reported a Q2 EPS of $3.23, exceeding analyst expectations of $3.13, with a revenue of $876.58 million, showing a year-over-year increase of 11.7%.
• Shares of Curtiss-Wright are currently trading at $494.45, and analysts generally rate the stock as a "Moderate Buy" with a consensus target price of $468.14.

Woodline Partners LP grew its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 53.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,227 shares of the aerospace company's stock after purchasing an additional 23,529 shares during the quarter. Woodline Partners LP owned approximately 0.18% of Curtiss-Wright worth $21,329,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in Curtiss-Wright by 44,878.7% in the 1st quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock valued at $82,340,000 after buying an additional 258,950 shares in the last quarter. Nuveen LLC acquired a new position in shares of Curtiss-Wright in the first quarter worth $70,357,000. Wedge Capital Management L L P NC acquired a new position in shares of Curtiss-Wright in the first quarter worth $55,639,000. Bank of New York Mellon Corp lifted its position in shares of Curtiss-Wright by 23.3% in the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock valued at $175,417,000 after acquiring an additional 104,393 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Curtiss-Wright during the fourth quarter valued at $34,368,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Trading Down 0.2%

Curtiss-Wright stock traded down $1.22 during trading on Friday, reaching $509.88. The company had a trading volume of 274,549 shares, compared to its average volume of 207,220. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $517.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. The stock's 50 day moving average price is $486.75 and its two-hundred day moving average price is $416.56. The firm has a market capitalization of $19.21 billion, a price-to-earnings ratio of 43.03, a PEG ratio of 3.13 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, topping analysts' consensus estimates of $3.13 by $0.10. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The company had revenue of $876.58 million for the quarter, compared to the consensus estimate of $855.10 million. During the same quarter last year, the firm posted $2.67 earnings per share. Curtiss-Wright's revenue was up 11.7% on a year-over-year basis. As a group, equities analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

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

Insider Buying and Selling

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 stock was 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 in the company, valued at $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Truist Financial lowered their price target on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a report on Friday, July 11th. Morgan Stanley boosted their price objective on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. 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. Finally, Stifel Nicolaus lifted their target price on shares of Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.