Curtiss-Wright Corporation $CW Stock Bought by EULAV Asset Management

Key Points

• EULAV Asset Management increased its Curtiss-Wright stake by 16.1% in the third quarter, acquiring 4,553 additional shares and bringing its holdings to 32,769 shares valued at approximately $17.82 million.
• Curtiss-Wright reported quarterly EPS of $3.72, beating estimates of $3.62, while revenue rose 5.4% year over year to $924.01 million. The company also increased its quarterly dividend to $0.26 per share.
• The stock opened at $464.02, well below its 12-month high of $808.16. Analysts maintain a “Moderate Buy” consensus, with an average price target of $676.38, although several firms recently lowered their targets.

EULAV Asset Management boosted its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 16.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,769 shares of the aerospace company's stock after acquiring an additional 4,553 shares during the period. EULAV Asset Management owned 0.09% of Curtiss-Wright worth $17,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Investing LLC increased its holdings in shares of Curtiss-Wright by 10.1% in the third quarter. Inspire Investing LLC now owns 14,440 shares of the aerospace company's stock worth $7,853,000 after purchasing an additional 1,320 shares during the period. Cadinha & Co. LLC boosted its stake in Curtiss-Wright by 5.0% during the third quarter. Cadinha & Co. LLC now owns 2,603 shares of the aerospace company's stock valued at $1,416,000 after buying an additional 125 shares during the period. Cardinal Capital Management boosted its stake in Curtiss-Wright by 1.1% during the third quarter. Cardinal Capital Management now owns 10,342 shares of the aerospace company's stock valued at $5,627,000 after buying an additional 113 shares during the period. Crossmark Global Holdings Inc. grew its position in Curtiss-Wright by 2.3% during the third quarter. Crossmark Global Holdings Inc. now owns 3,076 shares of the aerospace company's stock worth $1,673,000 after buying an additional 69 shares in the last quarter. Finally, Wavvest Wealth LLC purchased a new position in Curtiss-Wright during the third quarter worth about $1,255,000. Institutional investors own 82.71% of the company's stock.

Curtiss-Wright Stock Down 0.2%

CW opened at $464.02 on Monday. Curtiss-Wright Corporation has a 12 month low of $453.42 and a 12 month high of $808.16. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The business's 50-day moving average price is $557.88 and its 200-day moving average price is $672.82. The company has a market cap of $17.14 billion, a P/E ratio of 31.94, a P/E/G ratio of 1.94 and a beta of 0.88.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.10. The firm had revenue of $924.01 million for the quarter, compared to analysts' expectations of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The business's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business earned $3.23 earnings per share. On average, equities analysts expect that Curtiss-Wright Corporation will post 15.33 EPS for the current year.

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.2%. This is a boost from Curtiss-Wright's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, September 25th. Curtiss-Wright's payout ratio is presently 7.16%.

Wall Street Analyst Weigh In

CW has been the subject of several recent analyst reports. Citigroup cut their price objective on Curtiss-Wright from $793.00 to $622.00 and set a "neutral" rating for the company in a report on Wednesday, October 7th. Morgan Stanley decreased their price objective on shares of Curtiss-Wright from $860.00 to $625.00 and set an "overweight" rating on the stock in a research report on Friday, October 16th. Guggenheim assumed coverage on shares of Curtiss-Wright in a research note on Monday, September 14th. They issued a "buy" rating and a $786.00 target price on the stock. Piper Sandler dropped their target price on shares of Curtiss-Wright from $665.00 to $586.00 and set a "neutral" rating for the company in a research report on Friday. Finally, Weiss Ratings cut shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $676.38.

Insider Buying and Selling

In related news, EVP John C. Watts sold 1,035 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value of $641,141.10. Following the completion of the sale, the executive vice president owned 2,736 shares of the company's stock, valued at $1,694,842.56. This trade represents a 27.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Larry D. Wyche sold 100 shares of Curtiss-Wright stock in a transaction on Friday, August 28th. The shares were sold at an average price of $596.74, for a total transaction of $59,674.00. Following the completion of the sale, the director owned 1,414 shares in the company, valued at approximately $843,790.36. This trade represents a 6.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by corporate insiders.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation NYSE: CW is a diversified industrial company that provides highly engineered products and services to the aerospace, defense, commercial nuclear power, and general industrial markets. The company designs and manufactures equipment used in applications that require reliable performance in demanding operating environments.

Its products and technologies include motion-control systems, valves, pumps, actuation equipment, sensors, data-acquisition systems, embedded computing products, and aircraft structural components.

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