TimesSquare Capital Management LLC Buys 22,940 Shares of Curtiss-Wright Corporation (NYSE:CW)

TimesSquare Capital Management LLC lifted its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 13.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,012 shares of the aerospace company's stock after purchasing an additional 22,940 shares during the quarter. TimesSquare Capital Management LLC owned 0.53% of Curtiss-Wright worth $63,141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CW. Norges Bank acquired a new position in Curtiss-Wright in the fourth quarter valued at about $201,856,000. William Blair Investment Management LLC acquired a new position in shares of Curtiss-Wright in the 4th quarter valued at approximately $132,626,000. GAMMA Investing LLC increased its stake in Curtiss-Wright by 44,878.7% during the 1st quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock worth $82,340,000 after purchasing an additional 258,950 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in Curtiss-Wright during the 1st quarter worth approximately $55,639,000. Finally, TD Asset Management Inc. lifted its stake in Curtiss-Wright by 16.2% in the fourth quarter. TD Asset Management Inc. now owns 766,413 shares of the aerospace company's stock valued at $271,977,000 after buying an additional 107,115 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

Insider Activity

In other news, CFO K Christopher Farkas sold 4,780 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $350.00, for a total value of $1,673,000.00. Following the transaction, the chief financial officer directly owned 9,253 shares of the company's stock, valued at $3,238,550. This represents a 34.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $448.00, for a total transaction of $851,200.00. Following the sale, the director owned 4,523 shares of the company's stock, valued at approximately $2,026,304. This represents a 29.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,130 shares of company stock valued at $2,726,412 over the last three months. Insiders own 0.55% of the company's stock.

Curtiss-Wright Stock Up 2.8%

NYSE CW traded up $13.47 during trading hours on Monday, hitting $486.74. 301,086 shares of the company traded hands, compared to its average volume of 315,899. The stock has a market capitalization of $18.33 billion, a price-to-earnings ratio of 43.30, a P/E/G ratio of 2.99 and a beta of 1.15. Curtiss-Wright Corporation has a twelve month low of $258.85 and a twelve month high of $493.95. The business's 50-day moving average is $446.23 and its 200-day moving average is $373.25. 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 (NYSE:CW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.43. The business had revenue of $805.65 million for the quarter, compared to the consensus estimate of $767.32 million. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The firm'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 earnings per share. Sell-side analysts anticipate 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. Shareholders of record on Monday, June 16th were paid a $0.24 dividend. This is a positive change from Curtiss-Wright's previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.96 annualized dividend and a yield of 0.20%. Curtiss-Wright's dividend payout ratio is currently 8.54%.

Analysts Set New Price Targets

A number of brokerages recently commented on CW. Robert W. Baird raised their price objective on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Wall Street Zen upgraded Curtiss-Wright from a "buy" rating to a "strong-buy" rating in a report on Saturday. Stifel Nicolaus reduced their price objective on Curtiss-Wright from $331.00 to $309.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Citigroup lifted their target price on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research report on Monday. Finally, Truist Financial reduced their price target on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Curtiss-Wright currently has an average rating of "Moderate Buy" and an average target price of $424.86.

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.