Envestnet Portfolio Solutions Inc. lessened its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 33.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,357 shares of the aerospace company's stock after selling 673 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Curtiss-Wright were worth $663,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in CW. Nuveen LLC bought a new stake in Curtiss-Wright in the 1st quarter valued at $70,357,000. Bank of New York Mellon Corp increased its position in Curtiss-Wright by 23.3% during the 1st quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock worth $175,417,000 after buying an additional 104,393 shares during the period. Millennium Management LLC lifted its holdings in shares of Curtiss-Wright by 135.0% during the first quarter. Millennium Management LLC now owns 154,158 shares of the aerospace company's stock worth $48,910,000 after buying an additional 88,557 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Curtiss-Wright by 2,460.9% in the first quarter. Bank of Nova Scotia now owns 91,500 shares of the aerospace company's stock valued at $29,030,000 after acquiring an additional 87,927 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Curtiss-Wright by 25.6% in the first quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company's stock valued at $81,761,000 after acquiring an additional 54,289 shares during the period. Institutional investors and hedge funds own 82.71% of the company's stock.
Analyst Ratings Changes
Several brokerages have weighed in on CW. Truist Financial lifted their price objective on shares of Curtiss-Wright from $463.00 to $525.00 and gave the stock a "hold" rating in a research note on Wednesday, October 15th. Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $457.00 to $502.00 and gave the company a "hold" rating in a research report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Wall Street Zen downgraded Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Citigroup lifted 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. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $526.00.
Get Our Latest Stock Analysis on Curtiss-Wright
Curtiss-Wright Stock Performance
Shares of NYSE:CW opened at $561.72 on Tuesday. Curtiss-Wright Corporation has a 1 year low of $266.88 and a 1 year high of $575.07. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 47.40, a price-to-earnings-growth ratio of 3.09 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.35. The company's 50 day simple moving average is $512.23 and its 200 day simple moving average is $456.49.
Curtiss-Wright (NYSE:CW - Get Free Report) last released its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The firm had revenue of $876.58 million during the quarter, compared to analysts' expectations of $855.10 million. During the same period in the prior year, the company earned $2.67 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. As a group, research analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.
Curtiss-Wright Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, September 26th. Curtiss-Wright's payout ratio is currently 8.10%.
Insider Buying and Selling
In other news, VP John C. Watts sold 1,110 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $480.50, for a total value of $533,355.00. Following the completion of the transaction, the vice president owned 3,863 shares of the company's stock, valued at approximately $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company's stock.
Curtiss-Wright Profile
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Free Report)
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.
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