United Services Automobile Association Makes New $775,000 Investment in Curtiss-Wright Corporation $CW

Key Points

• United Services Automobile Association has acquired a new stake in Curtiss-Wright Corporation, purchasing 2,445 shares valued at approximately $775,000 during the first quarter of the year.
• Analysts have recently adjusted price targets for Curtiss-Wright, with a consensus rating of "Moderate Buy" and an average price target of $468.14.
• Curtiss-Wright reported earnings of $3.23 per share, surpassing expectations and indicating an 11.7% year-over-year revenue growth with total revenue of $876.58 million for the quarter.

United Services Automobile Association acquired a new stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,445 shares of the aerospace company's stock, valued at approximately $775,000.

A number of other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Curtiss-Wright by 44,878.7% in the first quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock worth $82,340,000 after buying an additional 258,950 shares during the last quarter. Nuveen LLC bought a new stake in shares of Curtiss-Wright in the first quarter worth $70,357,000. Wedge Capital Management L L P NC bought a new stake in shares of Curtiss-Wright in the first quarter worth $55,639,000. Bank of New York Mellon Corp increased its stake in shares of Curtiss-Wright by 23.3% in the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock worth $175,417,000 after buying an additional 104,393 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Curtiss-Wright in the fourth quarter worth $34,368,000. Hedge funds and other institutional investors own 82.71% of the company's stock.

Curtiss-Wright Price Performance

CW stock traded up $15.79 during trading on Thursday, hitting $511.27. The company had a trading volume of 384,275 shares, compared to its average volume of 202,625. The firm has a market capitalization of $19.26 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 3.03 and a beta of 1.15. The business has a 50 day moving average of $486.57 and a 200 day moving average of $414.54. Curtiss-Wright Corporation has a fifty-two week low of $266.88 and a fifty-two week high of $517.09. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35.

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, topping the consensus estimate of $3.13 by $0.10. The business had revenue of $876.58 million during the quarter, compared to the consensus estimate of $855.10 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The company's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.67 earnings per share. As a group, research analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

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

Insiders Place Their Bets

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $480.50, for a total value of $533,355.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CW. Truist Financial dropped their price target on shares of 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 boosted their target price on shares of 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 boosted their target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Stifel Nicolaus boosted their price target on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a report on Friday, August 8th. Finally, Robert W. Baird boosted their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $468.14.

About Curtiss-Wright

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.