LPL Financial LLC Has $10.89 Million Stake in Curtiss-Wright Corporation (NYSE:CW)

Key Points

• LPL Financial LLC increased its holdings in Curtiss-Wright Corporation by 36.9% during the first quarter, now owning 34,311 shares valued at approximately $10.9 million.
• Analysts project growth for Curtiss-Wright, with target prices ranging from $338.00 to $568.00 based on recent reports, indicating a consensus rating of "Moderate Buy."
• Curtiss-Wright recently increased its quarterly dividend from $0.21 to $0.24 per share, reflecting positive financial performance with a net margin of 13.66%.

LPL Financial LLC grew its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 36.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,311 shares of the aerospace company's stock after purchasing an additional 9,242 shares during the period. LPL Financial LLC owned about 0.09% of Curtiss-Wright worth $10,886,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Curtiss-Wright by 98.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,664 shares of the aerospace company's stock valued at $1,163,000 after purchasing an additional 1,817 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Curtiss-Wright by 100.4% during the 1st quarter. Vontobel Holding Ltd. now owns 1,140 shares of the aerospace company's stock worth $362,000 after purchasing an additional 571 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Curtiss-Wright during the 1st quarter worth about $240,000. Janney Montgomery Scott LLC raised its stake in shares of Curtiss-Wright by 37.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,652 shares of the aerospace company's stock worth $1,159,000 after purchasing an additional 999 shares in the last quarter. Finally, Mission Wealth Management LP purchased a new stake in shares of Curtiss-Wright during the 1st quarter worth about $206,000. Institutional investors and hedge funds own 82.71% of the company's stock.

Curtiss-Wright Stock Performance

Shares of CW stock traded up $17.16 during trading hours on Monday, reaching $489.59. 460,427 shares of the company's stock were exchanged, compared to its average volume of 319,941. Curtiss-Wright Corporation has a fifty-two week low of $266.88 and a fifty-two week high of $517.09. The stock has a market capitalization of $18.45 billion, a P/E ratio of 41.32, a P/E/G ratio of 2.95 and a beta of 1.18. The business has a fifty day moving average price of $478.09 and a 200-day moving average price of $391.06. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly 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 return on equity of 18.34% and a net margin of 13.66%. The company had revenue of $876.58 million during the quarter, compared to analyst estimates of $855.10 million. During the same period in the previous year, the company earned $2.67 earnings per share. The company's quarterly revenue was up 11.7% compared to the same quarter last year. Analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 16th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 16th. This is a boost from Curtiss-Wright's previous quarterly dividend of $0.21. Curtiss-Wright's payout ratio is 8.10%.

Wall Street Analyst Weigh In

CW has been the subject of a number of recent research reports. Wall Street Zen downgraded Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley raised their price target on Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Truist Financial cut their price target on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Citigroup raised their price objective on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus raised their price objective on Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research note on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Curtiss-Wright presently has an average rating of "Moderate Buy" and a consensus price target of $468.14.

Insider Activity at Curtiss-Wright

In other news, VP John C. Watts sold 450 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $449.36, for a total transaction of $202,212.00. Following the sale, the vice president owned 4,959 shares of the company's stock, valued at approximately $2,228,376.24. This trade represents a 8.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce D. Hoechner sold 1,900 shares of Curtiss-Wright stock in a transaction that occurred 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 sale, the director directly owned 4,523 shares in the company, valued at $2,026,304. The trade was a 29.58% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

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.