Kestra Private Wealth Services LLC Raises Stock Position in Curtiss-Wright Corporation (NYSE:CW)

Key Points

• Kestra Private Wealth Services LLC increased its stake in Curtiss-Wright Corporation by 75.5%, acquiring an additional 624 shares, making their total holdings valued at $460,000.
• Curtiss-Wright reported a quarterly EPS of $2.82, surpassing estimates by $0.43, along with a 13% increase in revenue year-over-year, totaling $805.65 million.
• The company increased its quarterly dividend from $0.21 to $0.24 per share, indicating a positive change with a dividend payout ratio of 8.54%.

Kestra Private Wealth Services LLC grew its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 75.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,451 shares of the aerospace company's stock after acquiring an additional 624 shares during the period. Kestra Private Wealth Services LLC's holdings in Curtiss-Wright were worth $460,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CW. Norges Bank acquired a new position in shares of Curtiss-Wright during the fourth quarter worth $201,856,000. GAMMA Investing LLC increased its stake in 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 buying an additional 258,950 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Curtiss-Wright during the 1st quarter worth $55,639,000. Bank of New York Mellon Corp increased its stake 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. Finally, Point72 Asset Management L.P. purchased a new stake in Curtiss-Wright during the 4th quarter worth $34,368,000. Hedge funds and other institutional investors own 82.71% of the company's stock.

Curtiss-Wright Trading Up 1.3%

Curtiss-Wright stock opened at $484.82 on Friday. The firm has a 50 day simple moving average of $465.62 and a 200-day simple moving average of $382.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.89 and a quick ratio of 1.28. The stock has a market capitalization of $18.26 billion, a PE ratio of 43.13, a price-to-earnings-growth ratio of 3.06 and a beta of 1.15. 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 issued its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. The company had revenue of $805.65 million for the quarter, compared to analysts' expectations of $767.32 million. During the same period last year, the firm earned $1.99 EPS. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup lifted their target price on Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Truist Financial dropped their price objective on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $365.00 to $450.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Morgan Stanley lifted their price target on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Robert W. Baird lifted their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Curtiss-Wright currently has an average rating of "Moderate Buy" and a consensus price target of $467.14.

Insider Activity

In other news, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the sale, the director owned 4,523 shares of the company's stock, valued at $2,026,304. This trade represents a 29.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO K Christopher Farkas sold 4,780 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $350.00, for a total value of $1,673,000.00. Following the sale, the chief financial officer owned 9,253 shares of the company's stock, valued at $3,238,550. The trade was a 34.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,130 shares of company stock worth $2,726,412. 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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