Diversify Wealth Management LLC Increases Position in Curtiss-Wright Corporation $CW

Key Points

• Diversify Wealth Management LLC increased its stake in Curtiss-Wright by 57.8% in the first quarter, bringing its holdings to 8,480 shares worth about $5.9 million.
• Curtiss-Wright reported better-than-expected quarterly results, with EPS of $3.48 and revenue of $913.69 million, both above estimates and up 13.4% year over year.
• Analysts remain cautiously positive on the stock, with a consensus rating of “Moderate Buy” and an average target price of $749.67, while insiders have recently sold shares under pre-arranged trading plans.

Diversify Wealth Management LLC grew its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 57.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,480 shares of the aerospace company's stock after purchasing an additional 3,106 shares during the period. Diversify Wealth Management LLC's holdings in Curtiss-Wright were worth $5,904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CW. Norges Bank purchased a new stake in shares of Curtiss-Wright in the 4th quarter valued at $290,633,000. Corient Private Wealth LLC boosted its holdings in Curtiss-Wright by 6,169.8% during the 4th quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company's stock valued at $224,108,000 after acquiring an additional 400,047 shares during the period. Franklin Resources Inc. boosted its holdings in Curtiss-Wright by 61.0% during the 4th quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company's stock valued at $270,392,000 after acquiring an additional 185,887 shares during the period. Axiom Investors LLC DE acquired a new position in Curtiss-Wright in the 4th quarter valued at about $76,892,000. Finally, AQR Capital Management LLC grew its position in Curtiss-Wright by 45.8% in the 2nd quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company's stock valued at $189,468,000 after acquiring an additional 122,048 shares in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Trading Up 0.0%

CW opened at $755.02 on Monday. Curtiss-Wright Corporation has a 12 month low of $463.00 and a 12 month high of $808.16. The stock has a market capitalization of $27.89 billion, a price-to-earnings ratio of 55.31, a PEG ratio of 3.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The business has a fifty day moving average price of $745.72 and a 200 day moving average price of $695.41.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.16. The company had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.Curtiss-Wright's revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 EPS. Sell-side analysts expect that Curtiss-Wright Corporation will post 15.18 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Monday, June 15th. Curtiss-Wright's dividend payout ratio is presently 7.62%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings cut shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Finally, Citigroup upped their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Curtiss-Wright currently has a consensus rating of "Moderate Buy" and a consensus target price of $749.67.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the transaction, the chief executive officer owned 48,134 shares in the company, valued at $34,739,270.48. The trade was a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the completion of the sale, the executive vice president directly owned 3,962 shares in the company, valued at approximately $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,119 shares of company stock valued at $2,257,998 over the last 90 days. 0.51% of the stock is owned by corporate insiders.

About Curtiss-Wright

Curtiss-Wright Corporation NYSE: CW is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.

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