TD Asset Management Inc Raises Position in Curtiss-Wright Corporation $CW

Key Points

• TD Asset Management Inc increased its stake in Curtiss-Wright Corporation by 14.4%, owning approximately 2.10% of the company, valued at $385.65 million.
• Curtiss-Wright reported earnings of $3.23 per share, exceeding analysts' estimates, with revenue of $876.58 million, an increase of 11.7% year-over-year.
• Several analysts adjusted their price targets for Curtiss-Wright, with Morgan Stanley raising it to $550.00 while Truist Financial reduced it to $338.00, reflecting differing outlooks on the company's future performance.

TD Asset Management Inc increased its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 789,378 shares of the aerospace company's stock after buying an additional 99,643 shares during the period. TD Asset Management Inc owned about 2.10% of Curtiss-Wright worth $385,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. 1 North Wealth Services LLC purchased a new stake in Curtiss-Wright during the first quarter worth about $32,000. West Oak Capital LLC purchased a new stake in Curtiss-Wright during the second quarter worth about $49,000. Private Trust Co. NA boosted its holdings in Curtiss-Wright by 13,800.0% during the first quarter. Private Trust Co. NA now owns 139 shares of the aerospace company's stock worth $44,000 after buying an additional 138 shares in the last quarter. Tsfg LLC boosted its holdings in Curtiss-Wright by 112.7% during the first quarter. Tsfg LLC now owns 217 shares of the aerospace company's stock worth $69,000 after buying an additional 115 shares in the last quarter. Finally, Flaharty Asset Management LLC purchased a new stake in Curtiss-Wright during the first quarter worth about $69,000. Hedge funds and other institutional investors own 82.71% of the company's stock.

Insider Transactions at Curtiss-Wright

In related news, VP John C. Watts sold 1,110 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $480.50, for a total value of $533,355.00. Following the completion of the sale, the vice president directly owned 3,863 shares in the company, valued at approximately $1,856,171.50. The trade was a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on CW. Truist Financial decreased their price objective on shares of 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 boosted 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. Citigroup boosted their price objective on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Weiss Ratings restated a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus lifted their target price on shares of Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Curtiss-Wright has an average rating of "Moderate Buy" and an average price target of $492.86.

Curtiss-Wright Stock Performance

NYSE:CW opened at $550.60 on Tuesday. The firm has a 50 day simple moving average of $506.00 and a 200-day simple moving average of $447.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.35. The firm has a market cap of $20.75 billion, a PE ratio of 46.46, a P/E/G ratio of 3.06 and a beta of 1.14. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $561.49.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $0.10. The business had revenue of $876.58 million during the quarter, compared to analyst estimates of $855.10 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The company's revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.67 earnings per share. On average, equities analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, September 26th. Curtiss-Wright's payout ratio is presently 8.10%.

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.

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