New Age Alpha Advisors LLC Sells 19,797 Shares of Curtiss-Wright Corporation (NYSE:CW)

Key Points

• New Age Alpha Advisors LLC sold 19,797 shares of Curtiss-Wright Corporation, reducing its stake by 71.6%, leaving them with 7,859 shares valued at $2.49 million.
• Curtiss-Wright recently reported $3.23 earnings per share, surpassing analyst estimates, and had an 11.7% year-over-year revenue increase, totaling $876.58 million for the quarter.
• The company announced an increase in its quarterly dividend to $0.24 per share, up from $0.21, reflecting a 0.2% dividend yield and an 8.10% payout ratio.

New Age Alpha Advisors LLC trimmed its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 71.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,859 shares of the aerospace company's stock after selling 19,797 shares during the quarter. New Age Alpha Advisors LLC's holdings in Curtiss-Wright were worth $2,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new stake in Curtiss-Wright in the 4th quarter worth approximately $35,000. Whipplewood Advisors LLC lifted its holdings in Curtiss-Wright by 1,566.7% in the 1st quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company's stock worth $32,000 after purchasing an additional 94 shares during the last quarter. Ancora Advisors LLC acquired a new stake in Curtiss-Wright in the 4th quarter worth approximately $49,000. Private Trust Co. NA lifted its holdings in Curtiss-Wright by 13,800.0% in the 1st quarter. Private Trust Co. NA now owns 139 shares of the aerospace company's stock worth $44,000 after purchasing an additional 138 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Curtiss-Wright in the 4th quarter worth approximately $70,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Trading Down 0.2%

NYSE:CW traded down $0.76 during mid-day trading on Friday, hitting $472.68. The company had a trading volume of 473,213 shares, compared to its average volume of 332,515. Curtiss-Wright Corporation has a fifty-two week low of $266.88 and a fifty-two week high of $517.09. The business's fifty day moving average is $478.09 and its two-hundred day moving average is $390.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.95. The firm has a market cap of $17.80 billion, a P/E ratio of 39.89, a P/E/G ratio of 2.97 and a beta of 1.18.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating 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 analyst estimates of $855.10 million. During the same quarter in the prior year, the firm posted $2.67 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. As a group, research analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CW. Stifel Nicolaus upped their price target on Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a report on Friday. Truist Financial lowered their price target on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. Wall Street Zen cut Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Robert W. Baird boosted their price objective on Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, Citigroup boosted their price objective on Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Curtiss-Wright has an average rating of "Moderate Buy" and a consensus price target of $468.14.

Insider Activity at Curtiss-Wright

In related news, Director Bruce D. Hoechner sold 1,900 shares of the business's 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 completion of the transaction, the director directly owned 4,523 shares in the company, valued at approximately $2,026,304. The trade was a 29.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John C. Watts sold 450 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president 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 disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

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.