Wavvest Wealth LLC Makes New $1.25 Million Investment in Curtiss-Wright Corporation $CW

Key Points

• Wavvest Wealth LLC initiated a roughly $1.25 million position in Curtiss-Wright during the third quarter, buying 2,307 shares. Institutional investors collectively own 82.71% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $686.25, though several firms recently lowered their targets.
• Curtiss-Wright exceeded quarterly EPS expectations, reporting $3.72 versus the $3.62 consensus, while revenue rose 5.4% year over year. The company also increased its quarterly dividend to $0.26 per share.

Wavvest Wealth LLC bought a new stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,307 shares of the aerospace company's stock, valued at approximately $1,255,000. Curtiss-Wright accounts for about 1.0% of Wavvest Wealth LLC's investment portfolio, making the stock its 28th largest position.

Several other hedge funds also recently added to or reduced their stakes in CW. BlackRock Inc. purchased a new position in Curtiss-Wright during the second quarter valued at approximately $3,448,649,000. Concurrent Investment Advisors LLC lifted its holdings in Curtiss-Wright by 220.1% in the second quarter. Concurrent Investment Advisors LLC now owns 3,073 shares of the aerospace company's stock valued at $2,329,000 after acquiring an additional 2,113 shares during the period. Nicholas Investment Partners LP acquired a new position in Curtiss-Wright in the second quarter valued at approximately $4,737,000. Amundi lifted its holdings in Curtiss-Wright by 47.6% in the second quarter. Amundi now owns 154,668 shares of the aerospace company's stock valued at $117,201,000 after acquiring an additional 49,907 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in Curtiss-Wright in the 1st quarter worth approximately $7,288,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup dropped their price objective on shares of Curtiss-Wright from $793.00 to $622.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 7th. Morgan Stanley decreased their target price on shares of Curtiss-Wright from $860.00 to $625.00 and set an "overweight" rating for the company in a research note on Friday, October 16th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on shares of Curtiss-Wright in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Piper Sandler started coverage on shares of Curtiss-Wright in a research report on Wednesday, September 2nd. They set a "neutral" rating and a $665.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $686.25.

Curtiss-Wright Stock Performance

NYSE CW opened at $494.09 on Thursday. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.07 and a beta of 0.88. Curtiss-Wright Corporation has a twelve month low of $485.80 and a twelve month high of $808.16. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $566.86 and a 200 day moving average of $676.03.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%. The company had revenue of $924.01 million for the quarter, compared to the consensus estimate of $926.17 million. During the same quarter in the prior year, the business posted $3.23 earnings per share. Curtiss-Wright's revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that Curtiss-Wright Corporation will post 15.33 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were given a dividend of $0.26 per share. This is a positive change from Curtiss-Wright's previous quarterly dividend of $0.24. The ex-dividend date was Friday, September 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright's payout ratio is 7.16%.

Insiders Place Their Bets

In other Curtiss-Wright news, EVP John C. Watts sold 1,035 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total transaction of $641,141.10. Following the completion of the transaction, the executive vice president directly owned 2,736 shares in the company, valued at approximately $1,694,842.56. This represents a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Larry D. Wyche sold 100 shares of the company's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $596.74, for a total transaction of $59,674.00. Following the transaction, the director owned 1,414 shares of the company's stock, valued at $843,790.36. This represents a 6.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is currently owned by company insiders.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation NYSE: CW is a diversified industrial company that provides highly engineered products and services to the aerospace, defense, commercial nuclear power, and general industrial markets. The company designs and manufactures equipment used in applications that require reliable performance in demanding operating environments.

Its products and technologies include motion-control systems, valves, pumps, actuation equipment, sensors, data-acquisition systems, embedded computing products, and aircraft structural components.

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