Voya Investment Management LLC Grows Position in Curtiss-Wright Corporation $CW

Key Points

• Voya Investment Management LLC significantly increased its stake in Curtiss-Wright Corporation by 114.5%, owning approximately $14.18 million worth of shares at the end of the first quarter.
• Several large investors, including Whipplewood Advisors LLC and Private Trust Co. NA, have made notable increases in their holdings of Curtiss-Wright during the same period, contributing to institutional investors holding 82.71% of the company's stock.
• Curtiss-Wright recently reported a quarterly earnings per share of $3.23, exceeding expectations, while also announcing a quarterly dividend of $0.24 per share, reflecting a low payout ratio of 8.10%.

Voya Investment Management LLC increased its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 114.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,697 shares of the aerospace company's stock after purchasing an additional 23,859 shares during the period. Voya Investment Management LLC owned approximately 0.12% of Curtiss-Wright worth $14,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Focus Partners Wealth acquired a new position in shares of Curtiss-Wright during the fourth quarter valued at about $241,000. ProShare Advisors LLC increased its holdings in shares of Curtiss-Wright by 6.3% during the fourth quarter. ProShare Advisors LLC now owns 1,775 shares of the aerospace company's stock worth $630,000 after buying an additional 105 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Curtiss-Wright by 3.3% in the fourth quarter. Rafferty Asset Management LLC now owns 10,582 shares of the aerospace company's stock valued at $3,755,000 after purchasing an additional 335 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Curtiss-Wright by 95.2% in the fourth quarter. Toronto Dominion Bank now owns 886 shares of the aerospace company's stock valued at $314,000 after purchasing an additional 432 shares in the last quarter. Finally, State of Wyoming boosted its stake in Curtiss-Wright by 434.7% in the fourth quarter. State of Wyoming now owns 540 shares of the aerospace company's stock valued at $192,000 after acquiring an additional 439 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

Insider Buying and Selling at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of Curtiss-Wright 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 completion of the transaction, the vice president owned 3,863 shares in the company, valued at $1,856,171.50. This trade represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CW shares. Stifel Nicolaus boosted their price objective on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research report on Friday, August 8th. 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 research note on Thursday, July 17th. Wall Street Zen lowered shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Truist Financial decreased their price target on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Finally, Citigroup boosted their price objective on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a report on Monday, July 14th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $468.14.

Curtiss-Wright Trading Up 0.1%

NYSE CW traded up $0.48 on Friday, hitting $513.28. The company's stock had a trading volume of 510,569 shares, compared to its average volume of 224,897. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $525.84. The company's 50-day moving average is $489.80 and its 200 day moving average is $422.60. The firm has a market cap of $19.34 billion, a PE ratio of 43.31, a PEG ratio of 3.14 and a beta of 1.15.

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

Curtiss-Wright Announces Dividend

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 dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, September 26th. Curtiss-Wright's dividend payout ratio (DPR) is 8.10%.

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.