Norden Group LLC Sells 1,475 Shares of Curtiss-Wright Corporation (NYSE:CW)

Key Points

• Norden Group LLC reduced its stake in Curtiss-Wright Corporation by 23.6%, selling 1,475 shares, which now leaves them with an investment valued at $1,514,000.
• Several hedge funds made adjustments to their holdings in Curtiss-Wright, with Mackenzie Financial Corp buying in for about $537,000, while LPL Financial LLC increased its holdings by 36.9%.
• Analyst ratings for Curtiss-Wright have become more positive, with a recent upgrade to a "strong-buy" and target price increases from several firms, indicating a growing confidence in the stock's performance.

Norden Group LLC decreased its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 23.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,771 shares of the aerospace company's stock after selling 1,475 shares during the quarter. Norden Group LLC's holdings in Curtiss-Wright were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. increased its stake in Curtiss-Wright by 6.4% in the fourth quarter. Invesco Ltd. now owns 1,417,445 shares of the aerospace company's stock valued at $503,009,000 after acquiring an additional 84,635 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Curtiss-Wright by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 743,934 shares of the aerospace company's stock worth $264,071,000 after purchasing an additional 12,086 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Curtiss-Wright by 1.2% during the fourth quarter. Alliancebernstein L.P. now owns 592,326 shares of the aerospace company's stock worth $210,199,000 after purchasing an additional 6,971 shares during the period. Norges Bank purchased a new stake in shares of Curtiss-Wright during the fourth quarter worth about $201,856,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Curtiss-Wright by 23.3% during the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock worth $175,417,000 after purchasing an additional 104,393 shares during the period. Institutional investors own 82.71% of the company's stock.

Analyst Ratings Changes

CW has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Citigroup increased their target price on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Stifel Nicolaus increased their target price on shares of Curtiss-Wright from $365.00 to $450.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Truist Financial dropped their target price 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. Finally, Wall Street Zen upgraded shares of Curtiss-Wright from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $467.14.

Curtiss-Wright Stock Up 1.0%

Shares of NYSE CW traded up $4.92 on Monday, reaching $489.82. 236,742 shares of the company's stock traded hands, compared to its average volume of 240,044. The company has a market cap of $18.45 billion, a price-to-earnings ratio of 43.58, a price-to-earnings-growth ratio of 3.06 and a beta of 1.15. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 0.37. The business's 50 day simple moving average is $467.06 and its two-hundred day simple moving average is $383.24. Curtiss-Wright Corporation has a 12 month low of $258.85 and a 12 month high of $493.95.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.43. The company had revenue of $805.65 million during the quarter, compared to the consensus estimate of $767.32 million. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The firm's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.99 earnings per share. As a group, equities research analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 16th were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 0.20%. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.21. Curtiss-Wright's dividend payout ratio (DPR) is 8.54%.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, CFO K Christopher Farkas sold 4,780 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $350.00, for a total transaction of $1,673,000.00. Following the completion of the sale, the chief financial officer directly owned 9,253 shares in the company, valued at approximately $3,238,550. The trade was a 34.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John C. Watts sold 450 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $449.36, for a total transaction of $202,212.00. Following the sale, the vice president owned 4,959 shares of the company's stock, valued at approximately $2,228,376.24. This represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,130 shares of company stock valued at $2,726,412 over the last 90 days. Corporate 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.