Private Advisor Group LLC Raises Stock Holdings in Curtiss-Wright Corporation (NYSE:CW)

Key Points

• Private Advisor Group LLC increased its shareholding in Curtiss-Wright Corporation by 38.6%, acquiring an additional 1,316 shares during the first quarter, bringing its total to 4,721 shares valued at approximately $1.5 million.
• Curtiss-Wright recently declared a quarterly dividend of $0.24, an increase from the previous $0.21, representing an annualized dividend of $0.96 with a yield of 0.20%.
• Various analysts have updated their price targets for Curtiss-Wright, with estimates ranging from $338 to $568, reflecting the stock's current consensus rating of "Moderate Buy."

Private Advisor Group LLC lifted its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 38.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,721 shares of the aerospace company's stock after purchasing an additional 1,316 shares during the quarter. Private Advisor Group LLC's holdings in Curtiss-Wright were worth $1,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its position in Curtiss-Wright by 98.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,664 shares of the aerospace company's stock worth $1,163,000 after purchasing an additional 1,817 shares in the last quarter. Vontobel Holding Ltd. grew its position in Curtiss-Wright by 100.4% in the first quarter. Vontobel Holding Ltd. now owns 1,140 shares of the aerospace company's stock valued at $362,000 after acquiring an additional 571 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Curtiss-Wright in the first quarter valued at approximately $240,000. Janney Montgomery Scott LLC grew its position in Curtiss-Wright by 37.7% in the first quarter. Janney Montgomery Scott LLC now owns 3,652 shares of the aerospace company's stock valued at $1,159,000 after acquiring an additional 999 shares in the last quarter. Finally, Mission Wealth Management LP acquired a new stake in Curtiss-Wright in the first quarter valued at approximately $206,000. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO K Christopher Farkas sold 4,780 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $350.00, for a total transaction of $1,673,000.00. Following the completion of the sale, the chief financial officer directly owned 9,253 shares of the company's stock, valued at approximately $3,238,550. This trade represents a 34.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the director owned 4,523 shares in the company, valued at approximately $2,026,304. This trade represents a 29.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,130 shares of company stock worth $2,726,412 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on CW shares. Stifel Nicolaus increased their price objective on shares of Curtiss-Wright from $365.00 to $450.00 and gave the company a "hold" rating in a research report on Monday, July 21st. Truist Financial reduced their target price 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 target price on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Morgan Stanley raised their target price on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen upgraded Curtiss-Wright from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Two 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $467.14.

Curtiss-Wright Trading Up 0.4%

Shares of NYSE:CW traded up $1.87 during midday trading on Monday, reaching $486.77. The company had a trading volume of 64,098 shares, compared to its average volume of 309,374. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.89. Curtiss-Wright Corporation has a 1-year low of $258.85 and a 1-year high of $493.95. The company has a fifty day simple moving average of $465.62 and a two-hundred day simple moving average of $382.27. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 43.23, a price-to-earnings-growth ratio of 3.06 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.43. The firm had revenue of $805.65 million during the quarter, compared to analyst estimates of $767.32 million. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. The company's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.99 EPS. Research analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 16th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.20%. 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. Curtiss-Wright's dividend payout ratio is presently 8.54%.

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.