Curtiss-Wright Corporation $CW Stock: Fort Washington Investment Advisors Inc. OH Boosts Holdings

Key Points

• Fort Washington Investment Advisors increased its Curtiss-Wright stake by 88.3% in the third quarter, bringing its holdings to 51,979 shares valued at approximately $28.3 million. Institutional investors and hedge funds collectively own 82.71% of the company.
• Curtiss-Wright reported quarterly EPS of $3.72, exceeding estimates by $0.10, while revenue rose 5.4% year over year to $924.0 million. The company also raised its quarterly dividend to $0.26 per share, implying a 0.2% yield.
• Analyst sentiment remains a “Moderate Buy,” with a consensus price target of $746.88, although ratings range from “Hold” to “Strong Buy” and Citigroup recently lowered its target to $622.

Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 88.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,979 shares of the aerospace company's stock after purchasing an additional 24,371 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.14% of Curtiss-Wright worth $28,267,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CW. B.A. Schrock Wealth Management Inc. bought a new position in Curtiss-Wright in the third quarter valued at $398,000. Reliant Investment Management LLC acquired a new stake in Curtiss-Wright in the 3rd quarter valued at $4,261,000. Fortitude Family Office LLC lifted its position in Curtiss-Wright by 82.5% during the 3rd quarter. Fortitude Family Office LLC now owns 115 shares of the aerospace company's stock worth $63,000 after buying an additional 52 shares in the last quarter. Wedmont Private Capital lifted its position in Curtiss-Wright by 117.2% during the 3rd quarter. Wedmont Private Capital now owns 1,525 shares of the aerospace company's stock worth $774,000 after buying an additional 823 shares in the last quarter. Finally, WoodTrust Financial Corp lifted its position in Curtiss-Wright by 4.0% during the 3rd quarter. WoodTrust Financial Corp now owns 988 shares of the aerospace company's stock worth $538,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

Curtiss-Wright Price Performance

Shares of CW opened at $501.84 on Friday. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 2.26 and a beta of 0.88. Curtiss-Wright Corporation has a 1-year low of $490.05 and a 1-year high of $808.16. The company's fifty day simple moving average is $583.29 and its 200 day simple moving average is $681.09. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly 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 analyst estimates of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.23 earnings per share. On average, research analysts forecast that Curtiss-Wright Corporation will post 15.27 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were paid a $0.26 dividend. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.24. The ex-dividend date was Friday, September 25th. This represents a $1.04 annualized dividend and a yield of 0.2%. Curtiss-Wright's dividend payout ratio (DPR) is 7.16%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings downgraded shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, September 4th. Morgan Stanley reaffirmed an "overweight" rating and issued a $860.00 target price on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Citigroup dropped their target price on Curtiss-Wright from $793.00 to $622.00 and set a "neutral" rating on the stock in a report on Wednesday, October 7th. Stifel Nicolaus increased their price target on Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research report on Monday, July 20th. Finally, Guggenheim assumed coverage on Curtiss-Wright in a research report on Monday, September 14th. They set a "buy" rating and a $786.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $746.88.

Curtiss-Wright Profile

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.

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