Wolverine Asset Management LLC Buys New Holdings in Curtiss-Wright Corporation (NYSE:CW)

Key Points

• Wolverine Asset Management LLC has acquired a new position in Curtiss-Wright Corporation, purchasing 1,500 shares valued at approximately $476,000 in the first quarter.
• Curtiss-Wright's recent quarterly earnings report showed an earnings per share of $3.23, surpassing analysts' expectations of $3.13, with a revenue of $876.58 million, up 11.7% year-over-year.
• The company has announced an increase in its quarterly dividend from $0.21 to $0.24, reflecting a commitment to returning value to shareholders.

Wolverine Asset Management LLC purchased a new position in Curtiss-Wright Corporation (NYSE:CW - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,500 shares of the aerospace company's stock, valued at approximately $476,000.

Several other large investors also recently made changes to their positions in CW. GAMMA Investing LLC grew its position in shares of Curtiss-Wright by 44,878.7% during the 1st quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock valued at $82,340,000 after acquiring an additional 258,950 shares during the period. Wedge Capital Management L L P NC bought a new position in Curtiss-Wright in the 1st quarter valued at approximately $55,639,000. Bank of New York Mellon Corp boosted its position in 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 purchasing an additional 104,393 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Curtiss-Wright in the fourth quarter worth $34,368,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Curtiss-Wright during the fourth quarter valued at about $31,497,000. Institutional investors own 82.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CW. Truist Financial reduced their price objective 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 lifted their price target on Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Stifel Nicolaus lifted their price objective 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. Morgan Stanley upped their target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $468.14.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 450 shares of Curtiss-Wright stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $449.36, for a total value of $202,212.00. Following the sale, the vice president owned 4,959 shares of the company's stock, valued at approximately $2,228,376.24. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce D. Hoechner sold 1,900 shares of the 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 transaction, the director owned 4,523 shares of the company's stock, valued at $2,026,304. This represents a 29.58% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company's stock.

Curtiss-Wright Stock Down 0.8%

Shares of NYSE CW traded down $3.92 during mid-day trading on Thursday, reaching $492.87. 292,363 shares of the company traded hands, compared to its average volume of 320,262. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. Curtiss-Wright Corporation has a fifty-two week low of $266.88 and a fifty-two week high of $517.09. The company's fifty day moving average is $481.08 and its two-hundred day moving average is $393.28. The stock has a market cap of $18.57 billion, a PE ratio of 41.59, a price-to-earnings-growth ratio of 3.07 and a beta of 1.18.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.13 by $0.10. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%. The business had revenue of $876.58 million during the quarter, compared to analysts' expectations of $855.10 million. During the same period in the prior year, the business earned $2.67 EPS. Curtiss-Wright's revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

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.