Curtiss-Wright Corporation (NYSE:CW) Shares Sold by Legacy Capital Group California Inc.

Key Points

• Legacy Capital Group California Inc. significantly reduced its stake in Curtiss-Wright Corporation by 81.6%, now holding only 878 shares valued at $279,000.
• Despite the reduction in shares held by Legacy Capital, other institutional investors have been actively increasing their stakes, with GAMMA Investing LLC boosting its position by 44,878.7% during the same quarter.
• Curtiss-Wright has announced an increase in its quarterly dividend from $0.21 to $0.24 per share, which reflects positively on the company's financial health and payout ratio of 8.10%.

Legacy Capital Group California Inc. trimmed its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 81.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 878 shares of the aerospace company's stock after selling 3,898 shares during the period. Legacy Capital Group California Inc.'s holdings in Curtiss-Wright were worth $279,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Minot DeBlois Advisors LLC acquired a new stake in Curtiss-Wright during the 4th quarter worth $35,000. Whipplewood Advisors LLC increased its holdings in shares of Curtiss-Wright by 1,566.7% in the 1st quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company's stock valued at $32,000 after purchasing an additional 94 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of Curtiss-Wright in the 4th quarter valued at about $49,000. Private Trust Co. NA increased its holdings in shares of Curtiss-Wright by 13,800.0% in the 1st quarter. Private Trust Co. NA now owns 139 shares of the aerospace company's stock valued at $44,000 after purchasing an additional 138 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new position in shares of Curtiss-Wright in the 4th quarter valued at about $70,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Morgan Stanley raised their target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Truist Financial dropped their target price on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a report on Friday, July 11th. Citigroup raised their target price on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a report on Friday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $468.14.

Curtiss-Wright Stock Down 0.2%

Shares of NYSE CW traded down $0.76 during trading on Friday, reaching $472.68. 473,213 shares of the stock were exchanged, compared to its average volume of 332,515. The business's 50-day moving average price is $478.09 and its 200 day moving average price is $391.01. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $517.09. The company has a quick ratio of 1.28, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $17.80 billion, a price-to-earnings ratio of 39.89, a price-to-earnings-growth ratio of 2.97 and a beta of 1.18.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 EPS 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 business had revenue of $876.58 million for the quarter, compared to analysts' expectations of $855.10 million. During the same period in the previous year, the company posted $2.67 earnings per share. The business's revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Monday, June 16th. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright's dividend payout ratio is presently 8.10%.

Insiders Place Their Bets

In related news, VP John C. Watts sold 450 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $449.36, for a total value of $202,212.00. Following the sale, the vice president directly owned 4,959 shares of the company's stock, valued at $2,228,376.24. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce D. Hoechner sold 1,900 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $448.00, for a total transaction of $851,200.00. Following the completion of the sale, the director directly owned 4,523 shares in the company, valued at $2,026,304. This represents a 29.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.55% of the company's stock.

About Curtiss-Wright

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.