GK Wealth Management LLC Invests $241,000 in Curtiss-Wright Corporation $CW

Key Points

• GK Wealth Management LLC made a significant investment of $241,000 in Curtiss-Wright Corporation, acquiring 493 shares during the 2nd quarter.
• Several institutional investors have dramatically increased their stakes in Curtiss-Wright, with 82.71% of the stock now owned by such investors.
• Curtiss-Wright recently announced a quarterly dividend of $0.24 per share, reflecting an annualized yield of 0.2% with a dividend payout ratio of 8.10%.

GK Wealth Management LLC acquired a new position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 493 shares of the aerospace company's stock, valued at approximately $241,000.

Several other institutional investors also recently modified their holdings of CW. GAMMA Investing LLC increased its stake in shares of Curtiss-Wright by 44,878.7% during the 1st quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock worth $82,340,000 after purchasing an additional 258,950 shares during the last quarter. Nuveen LLC acquired a new position in shares of Curtiss-Wright during the 1st quarter worth about $70,357,000. Wedge Capital Management L L P NC acquired a new position in shares of Curtiss-Wright during the 1st quarter worth about $55,639,000. Bank of New York Mellon Corp increased its stake in shares of 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 purchasing an additional 104,393 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Curtiss-Wright by 135.0% during the 1st quarter. Millennium Management LLC now owns 154,158 shares of the aerospace company's stock worth $48,910,000 after purchasing an additional 88,557 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Citigroup upped their price target on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Stifel Nicolaus upped their price target 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. Robert W. Baird upped their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley upped their price target on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $468.14.

Curtiss-Wright Stock Performance

Shares of Curtiss-Wright stock opened at $509.88 on Monday. The company has a 50 day moving average of $486.75 and a 200-day moving average of $417.27. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $517.09. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. The company has a market cap of $19.21 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 3.12 and a beta of 1.15.

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

Curtiss-Wright Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 26th. Curtiss-Wright's dividend payout ratio is 8.10%.

Insider Buying and Selling at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.