Vaughan Nelson Investment Management L.P. Raises Holdings in Curtiss-Wright Corporation $CW

Key Points

• Vaughan Nelson Investment Management increased its Curtiss-Wright stake by 2.2% in Q1, bringing its holdings to 94,740 shares worth about $64.5 million. Institutional investors overall own roughly 82.71% of the company.
• Curtiss-Wright reported strong quarterly results, with EPS of $3.48 beating estimates of $3.32 and revenue of $913.69 million topping expectations. Revenue rose 13.4% year over year, and analysts now expect full-year EPS of 15.15.
• The company also declared a quarterly dividend of $0.24 per share and saw some insider selling, including transactions by the CEO and a vice president. Analysts currently have a consensus rating of Moderate Buy with an average price target of $746.67.

Vaughan Nelson Investment Management L.P. raised its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,740 shares of the aerospace company's stock after purchasing an additional 2,065 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.26% of Curtiss-Wright worth $64,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC grew its stake in shares of Curtiss-Wright by 738.8% during the fourth quarter. SG Americas Securities LLC now owns 26,003 shares of the aerospace company's stock worth $14,335,000 after purchasing an additional 22,903 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Curtiss-Wright in the 3rd quarter valued at about $37,812,000. Grove Bank & Trust acquired a new stake in shares of Curtiss-Wright during the 4th quarter worth about $1,104,000. Fisher Asset Management LLC lifted its stake in Curtiss-Wright by 7.2% during the third quarter. Fisher Asset Management LLC now owns 120,535 shares of the aerospace company's stock worth $65,443,000 after purchasing an additional 8,095 shares during the last quarter. Finally, CWM LLC boosted its holdings in Curtiss-Wright by 75.8% in the fourth quarter. CWM LLC now owns 18,425 shares of the aerospace company's stock valued at $10,157,000 after purchasing an additional 7,944 shares in the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $780.87 on Monday. The stock has a market cap of $28.85 billion, a P/E ratio of 57.21, a P/E/G ratio of 3.58 and a beta of 0.85. Curtiss-Wright Corporation has a twelve month low of $458.74 and a twelve month high of $800.00. The stock has a 50 day moving average of $733.85 and a two-hundred day moving average of $672.83. 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 (NYSE:CW - Get Free Report) last announced its earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.16. The business had revenue of $913.69 million for the quarter, compared to analysts' expectations of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The company's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS. On average, research analysts forecast that Curtiss-Wright Corporation will post 15.15 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be issued a $0.24 dividend. 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 (DPR) is currently 7.62%.

Analyst Upgrades and Downgrades

CW has been the subject of several research analyst reports. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a report on Friday, May 8th. Citigroup boosted their price target on shares of Curtiss-Wright from $728.00 to $775.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Curtiss-Wright in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $746.67.

Insider Activity at Curtiss-Wright

In related news, VP Gary A. Ogilby sold 399 shares of Curtiss-Wright 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 sale, the vice president directly owned 2,172 shares in the company, valued at $1,568,075.40. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 48,134 shares in the company, valued at $34,739,270.48. This represents a 4.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,119 shares of company stock worth $2,257,998 over the last three months. 0.51% of the stock is currently 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.

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