Millennium Management LLC Grows Position in Curtiss-Wright Corporation $CW

Key Points

• Millennium Management LLC increased its stake in **Curtiss-Wright Corporation** by **135.0%**, acquiring an additional **88,557 shares** during the first quarter, bringing its total ownership to **154,158 shares** valued at approximately **$48.91 million**.
• Several institutional investors, including **Bank of New York Mellon** and **AQR Capital Management**, also raised their holdings in the company, with institutional ownership now at **82.71%**.
• **Curtiss-Wright Corporation** recently reported an **earnings per share** of **$3.23**, exceeding analysts' expectations, with a revenue increase of **11.7%** year-over-year to **$876.58 million** for the last quarter.

Millennium Management LLC raised its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 135.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,158 shares of the aerospace company's stock after acquiring an additional 88,557 shares during the period. Millennium Management LLC owned approximately 0.41% of Curtiss-Wright worth $48,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CW. Whipplewood Advisors LLC lifted its holdings in shares of Curtiss-Wright by 1,566.7% during the first 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. 1 North Wealth Services LLC bought a new position in shares of Curtiss-Wright during the first quarter valued at $32,000. Minot DeBlois Advisors LLC bought a new position in shares of Curtiss-Wright during the fourth quarter valued at $35,000. Private Trust Co. NA lifted its holdings in shares of Curtiss-Wright by 13,800.0% during the first 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, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Curtiss-Wright by 165.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the aerospace company's stock valued at $63,000 after purchasing an additional 124 shares in the last quarter. 82.71% of the stock is owned by institutional investors.

Curtiss-Wright Stock Performance

Shares of NYSE CW traded down $1.22 during trading on Friday, hitting $509.88. The company had a trading volume of 274,549 shares, compared to its average volume of 205,952. The stock has a 50 day simple moving average of $486.75 and a 200 day simple moving average of $417.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $517.09. The firm has a market capitalization of $19.21 billion, a P/E 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 posted its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The firm had revenue of $876.58 million for the quarter, compared to the consensus estimate of $855.10 million. During the same quarter last year, the company earned $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, analysts anticipate that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 26th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, September 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. Curtiss-Wright's dividend payout ratio (DPR) is currently 8.10%.

Insider Activity

In related news, VP John C. Watts sold 1,110 shares of the 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 sale, the vice president owned 3,863 shares in the company, valued at approximately $1,856,171.50. This trade represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

CW has been the topic of a number of recent research reports. Truist Financial lowered their target price on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Morgan Stanley increased their target price on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Stifel Nicolaus increased their target price on Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a report on Friday, August 8th. Citigroup increased their target price on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Robert W. Baird increased their target price on Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $468.14.

Curtiss-Wright 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.