Portside Wealth Group LLC Raises Position in Curtiss-Wright Co. (NYSE:CW)

by · The Markets Daily

Portside Wealth Group LLC raised its holdings in Curtiss-Wright Co. (NYSE:CW – Free Report) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,144 shares of the aerospace company’s stock after buying an additional 34 shares during the period. Portside Wealth Group LLC’s holdings in Curtiss-Wright were worth $680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CW. Janney Montgomery Scott LLC lifted its stake in Curtiss-Wright by 28.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,653 shares of the aerospace company’s stock worth $941,000 after acquiring an additional 584 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Curtiss-Wright by 68.2% during the 4th quarter. Blue Trust Inc. now owns 582 shares of the aerospace company’s stock worth $191,000 after purchasing an additional 236 shares during the last quarter. Caprock Group LLC lifted its position in shares of Curtiss-Wright by 6.4% during the 4th quarter. Caprock Group LLC now owns 947 shares of the aerospace company’s stock worth $336,000 after purchasing an additional 57 shares during the last quarter. DAVENPORT & Co LLC lifted its position in shares of Curtiss-Wright by 5.0% during the 4th quarter. DAVENPORT & Co LLC now owns 1,194 shares of the aerospace company’s stock worth $424,000 after purchasing an additional 57 shares during the last quarter. Finally, Spire Wealth Management purchased a new stake in shares of Curtiss-Wright during the 4th quarter worth $102,000. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CW shares. Citigroup decreased their price target on Curtiss-Wright from $450.00 to $424.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Truist Financial decreased their target price on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Stifel Nicolaus decreased their target price on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Wall Street Zen cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 24th. Finally, Robert W. Baird boosted their price objective on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.29.

View Our Latest Report on Curtiss-Wright

Insider Activity

In other Curtiss-Wright news, VP John C. Watts sold 450 shares of the company’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $449.36, for a total transaction of $202,212.00. Following the completion of the transaction, the vice president now owns 4,959 shares in the company, valued at approximately $2,228,376.24. This represents a 8.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul J. Ferdenzi sold 658 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $325.68, for a total transaction of $214,297.44. Following the transaction, the insider now owns 19,239 shares of the company’s stock, valued at approximately $6,265,757.52. The trade was a 3.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,092 shares of company stock valued at $3,783,319. Insiders own 0.55% of the company’s stock.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $447.07 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. Curtiss-Wright Co. has a twelve month low of $258.85 and a twelve month high of $453.02. The stock has a 50 day moving average of $363.25 and a two-hundred day moving average of $353.00. The stock has a market cap of $16.84 billion, a P/E ratio of 42.38, a P/E/G ratio of 2.48 and a beta of 1.04.

Curtiss-Wright (NYSE:CW – Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. The firm had revenue of $805.65 million during the quarter, compared to the consensus estimate of $767.32 million. During the same quarter in the prior year, the firm earned $1.99 EPS. Curtiss-Wright’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, research analysts forecast that Curtiss-Wright Co. will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.21%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 16th. Curtiss-Wright’s dividend payout ratio is presently 8.54%.

About Curtiss-Wright

(Free Report)

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.

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