TD Asset Management Inc Sells 76,678 Shares of Curtiss-Wright Corporation (NYSE:CW)

Key Points

• TD Asset Management Inc reduced its stake in Curtiss-Wright Corporation by 10% during the first quarter, holding 689,735 shares valued at approximately $218.83 million.
• Curtiss-Wright reported a strong quarterly earnings performance with $2.82 EPS, exceeding analysts' expectations, and revenue of $805.65 million, up 13% year-over-year.
• The company increased its quarterly dividend to $0.24 per share, reflecting a commitment to returning value to shareholders despite recent insider sales by key executives.

TD Asset Management Inc reduced its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 689,735 shares of the aerospace company's stock after selling 76,678 shares during the period. TD Asset Management Inc owned 1.83% of Curtiss-Wright worth $218,832,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ascent Group LLC increased its position in shares of Curtiss-Wright by 4.9% during the 4th quarter. Ascent Group LLC now owns 713 shares of the aerospace company's stock valued at $253,000 after purchasing an additional 33 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Curtiss-Wright by 1.6% during the 4th quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company's stock valued at $753,000 after purchasing an additional 34 shares during the last quarter. Portside Wealth Group LLC boosted its stake in Curtiss-Wright by 1.6% in the first quarter. Portside Wealth Group LLC now owns 2,144 shares of the aerospace company's stock valued at $680,000 after acquiring an additional 34 shares during the last quarter. GeoWealth Management LLC grew its position in shares of Curtiss-Wright by 15.6% during the 4th quarter. GeoWealth Management LLC now owns 318 shares of the aerospace company's stock valued at $113,000 after acquiring an additional 43 shares during the period. Finally, EP Wealth Advisors LLC grew its position in shares of Curtiss-Wright by 4.7% during the 4th quarter. EP Wealth Advisors LLC now owns 951 shares of the aerospace company's stock valued at $337,000 after acquiring an additional 43 shares during the period. 82.71% of the stock is owned by institutional investors.

Curtiss-Wright Price Performance

NYSE CW traded up $3.99 on Wednesday, hitting $496.24. The stock had a trading volume of 90,832 shares, compared to its average volume of 308,922. Curtiss-Wright Corporation has a 52-week low of $258.85 and a 52-week high of $496.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.89. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of 44.06, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15. The firm has a 50-day moving average of $468.51 and a 200-day moving average of $384.00.

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 (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The business had revenue of $805.65 million for the quarter, compared to analysts' expectations of $767.32 million. During the same period in the prior year, the company posted $1.99 EPS. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 16th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 0.19%. This is a boost from Curtiss-Wright's previous quarterly dividend of $0.21. Curtiss-Wright's dividend payout ratio (DPR) is 8.54%.

Insider Activity

In other news, VP John C. Watts sold 450 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were 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 in the company, valued at approximately $2,228,376.24. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO K Christopher Farkas sold 4,780 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $350.00, for a total transaction of $1,673,000.00. Following the sale, the chief financial officer owned 9,253 shares in the company, valued at approximately $3,238,550. This trade represents a 34.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,130 shares of company stock worth $2,726,412. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CW has been the subject of a number of research reports. Citigroup increased their target price on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Stifel Nicolaus increased their target price 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 shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research report on Friday, July 11th. Wall Street Zen raised shares of Curtiss-Wright from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. Finally, Morgan Stanley raised their price objective on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $467.14.

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.