Essex LLC Invests $227,000 in Curtiss-Wright Corporation $CW

Key Points

• Essex LLC acquired a new position in Curtiss-Wright Corporation, investing approximately $227,000 for 465 shares in the second quarter.
• Curtiss-Wright reported earnings of $3.23 per share for the last quarter, exceeding the consensus estimate, with revenue up 11.7% year-over-year.
• The company's recent quarterly dividend was $0.24 per share, reflecting an annual yield of 0.2%, with a payout ratio of 8.10%.

Essex LLC acquired a new position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 465 shares of the aerospace company's stock, valued at approximately $227,000.

Other large investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Curtiss-Wright during the first quarter worth approximately $70,357,000. Bank of New York Mellon Corp grew 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 buying an additional 104,393 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Curtiss-Wright by 14.4% during the second quarter. TD Asset Management Inc now owns 789,378 shares of the aerospace company's stock worth $385,651,000 after buying an additional 99,643 shares in the last quarter. Millennium Management LLC grew its stake in Curtiss-Wright by 135.0% during the 1st quarter. Millennium Management LLC now owns 154,158 shares of the aerospace company's stock valued at $48,910,000 after acquiring an additional 88,557 shares in the last quarter. Finally, Bank of Nova Scotia grew its stake in Curtiss-Wright by 2,460.9% during the 1st 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 in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Price Performance

Shares of CW opened at $556.84 on Thursday. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $575.07. The stock has a market cap of $20.98 billion, a PE ratio of 46.99, a P/E/G ratio of 3.15 and a beta of 1.14. The firm has a 50-day simple moving average of $507.84 and a two-hundred day simple moving average of $449.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.35.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The firm had revenue of $876.58 million during the quarter, compared to the consensus estimate of $855.10 million. During the same quarter last year, the firm earned $2.67 EPS. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, September 26th. Curtiss-Wright's payout ratio is presently 8.10%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CW shares. Stifel Nicolaus upped their price objective on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Weiss Ratings restated a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Citigroup upped their price target on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $625.00 target price on shares of Curtiss-Wright in a report on Wednesday, October 8th. Finally, Truist Financial upped their target price on Curtiss-Wright from $463.00 to $525.00 and gave the company a "hold" rating in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Curtiss-Wright currently has a consensus rating of "Moderate Buy" and an average target price of $519.57.

Insider Activity at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the transaction, the vice president directly owned 3,863 shares of the company's stock, valued at approximately $1,856,171.50. The trade was a 22.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.

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