SG Americas Securities LLC Purchases 97,015 Shares of Curtiss-Wright Corporation $CW

Key Points

• SG Americas Securities LLC increased its Curtiss-Wright stake by 373.1% in the first quarter, buying 97,015 additional shares and bringing its holdings to 123,018 shares worth about $83.8 million.
• Curtiss-Wright reported strong quarterly results, with EPS of $3.48 versus expectations of $3.32 and revenue of $913.69 million, up 13.4% year over year.
• The company also raised its dividend outlook modestly, declaring a quarterly dividend of $0.24 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $746.67.

SG Americas Securities LLC boosted its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 373.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 123,018 shares of the aerospace company's stock after purchasing an additional 97,015 shares during the quarter. SG Americas Securities LLC owned 0.33% of Curtiss-Wright worth $83,790,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CW. Norges Bank bought a new position in shares of Curtiss-Wright during the fourth quarter worth $290,633,000. Corient Private Wealth LLC increased its position in shares of Curtiss-Wright by 6,169.8% in the 4th quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company's stock valued at $224,108,000 after buying an additional 400,047 shares in the last quarter. Franklin Resources Inc. raised its stake in Curtiss-Wright by 61.0% during the 4th quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company's stock worth $270,392,000 after buying an additional 185,887 shares during the period. Axiom Investors LLC DE acquired a new stake in Curtiss-Wright during the 4th quarter worth $76,892,000. Finally, AQR Capital Management LLC lifted its holdings in Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company's stock worth $189,468,000 after acquiring an additional 122,048 shares in the last quarter. Institutional investors own 82.71% of the company's stock.

Curtiss-Wright Trading Up 1.6%

CW opened at $784.62 on Tuesday. The stock has a market capitalization of $28.98 billion, a P/E ratio of 57.48, a P/E/G ratio of 3.58 and a beta of 0.85. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Curtiss-Wright Corporation has a 12 month low of $462.59 and a 12 month high of $800.00. The firm's fifty day simple moving average is $735.11 and its 200 day simple moving average is $674.50.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The firm had revenue of $913.69 million during the quarter, compared to analysts' expectations of $863.83 million. During the same quarter in the prior year, the company earned $2.82 EPS. The company's revenue was up 13.4% on a year-over-year basis. As a group, research analysts anticipate that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright's dividend payout ratio is currently 7.62%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Citigroup raised their price target on Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $724.00 price objective on Curtiss-Wright in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Curtiss-Wright has an average rating of "Moderate Buy" and an average target price of $746.67.

Insider Buying and Selling

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the sale, the chief executive officer owned 48,134 shares in the company, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the transaction, the vice president directly owned 2,172 shares of the company's stock, valued at approximately $1,568,075.40. This trade represents a 15.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 3,119 shares of company stock worth $2,257,998. 0.51% of the stock is owned by corporate insiders.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation NYSE: CW is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.