Global Alpha Capital Management Ltd. Acquires 33,960 Shares of Curtiss-Wright Corporation (NYSE:CW)

Key Points

• Global Alpha Capital Management Ltd. increased its stake in Curtiss-Wright Corporation by 40.6%, now holding over 117,000 shares worth approximately $37.31 million.
• Analysts have raised price targets for Curtiss-Wright, with Citigroup expecting a price of $568 and Morgan Stanley predicting $550, indicating a consensus rating of "Moderate Buy."
• Curtiss-Wright recently raised its quarterly dividend from $0.21 to $0.24 per share, reflecting the company's strong financial performance with an EPS of $3.23 last quarter.

Global Alpha Capital Management Ltd. increased its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 40.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 117,597 shares of the aerospace company's stock after buying an additional 33,960 shares during the quarter. Curtiss-Wright comprises about 2.7% of Global Alpha Capital Management Ltd.'s portfolio, making the stock its 16th biggest position. Global Alpha Capital Management Ltd. owned approximately 0.31% of Curtiss-Wright worth $37,310,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CW. Cambridge Investment Research Advisors Inc. raised its stake in shares of Curtiss-Wright by 98.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,664 shares of the aerospace company's stock worth $1,163,000 after purchasing an additional 1,817 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Curtiss-Wright by 100.4% in the first quarter. Vontobel Holding Ltd. now owns 1,140 shares of the aerospace company's stock valued at $362,000 after acquiring an additional 571 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Curtiss-Wright in the first quarter valued at approximately $240,000. Janney Montgomery Scott LLC grew its holdings in shares of Curtiss-Wright by 37.7% in the first quarter. Janney Montgomery Scott LLC now owns 3,652 shares of the aerospace company's stock valued at $1,159,000 after acquiring an additional 999 shares in the last quarter. Finally, Mission Wealth Management LP bought a new position in shares of Curtiss-Wright in the first quarter valued at approximately $206,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Price Performance

Shares of CW stock traded down $0.76 on Friday, reaching $472.68. The company's stock had a trading volume of 473,213 shares, compared to its average volume of 338,542. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $517.09. The company has a market capitalization of $17.81 billion, a P/E ratio of 39.89, a PEG ratio of 2.95 and a beta of 1.18. The stock's 50 day simple moving average is $478.09 and its 200-day simple moving average is $391.06.

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

Curtiss-Wright Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 16th were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 16th. This is a positive change from Curtiss-Wright's previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. Curtiss-Wright's dividend payout ratio (DPR) is 8.10%.

Analysts Set New Price Targets

CW has been the subject of several recent analyst 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 report on Thursday, July 17th. Stifel Nicolaus increased their price objective on Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a report on Friday. Robert W. Baird increased their price objective on Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Citigroup increased their price objective on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Truist Financial reduced their price objective on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a report on Friday, July 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $468.14.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $448.00, for a total transaction of $851,200.00. Following the sale, the director owned 4,523 shares in the company, valued at $2,026,304. This trade represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John C. Watts sold 450 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $449.36, for a total value of $202,212.00. Following the transaction, the vice president directly owned 4,959 shares in the company, valued at $2,228,376.24. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.55% of the company's stock.

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.