Legacy Capital Group California Inc. Takes Position in Curtiss-Wright Co. (NYSE:CW)

Legacy Capital Group California Inc. purchased a new stake in Curtiss-Wright Co. (NYSE:CW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,897 shares of the aerospace company’s stock, valued at approximately $1,091,000.

Several other large investors have also modified their holdings of CW. Fiera Capital Corp acquired a new stake in shares of Curtiss-Wright in the third quarter valued at approximately $31,386,000. International Assets Investment Management LLC acquired a new stake in Curtiss-Wright during the fourth quarter worth approximately $31,816,000. Seizert Capital Partners LLC boosted its position in Curtiss-Wright by 674.7% during the third quarter. Seizert Capital Partners LLC now owns 111,826 shares of the aerospace company’s stock worth $21,877,000 after acquiring an additional 97,392 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Curtiss-Wright during the fourth quarter worth approximately $18,462,000. Finally, Cadinha & Co. LLC raised its stake in Curtiss-Wright by 1,101.1% during the fourth quarter. Cadinha & Co. LLC now owns 69,605 shares of the aerospace company’s stock worth $15,507,000 after purchasing an additional 63,810 shares during the period. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CW. Robert W. Baird increased their price target on shares of Curtiss-Wright from $246.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. StockNews.com raised shares of Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 5th. Truist Financial increased their price target on shares of Curtiss-Wright from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Morgan Stanley raised their target price on shares of Curtiss-Wright from $260.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Stifel Nicolaus raised their target price on shares of Curtiss-Wright from $255.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Curtiss-Wright presently has an average rating of “Buy” and a consensus target price of $277.00.

Curtiss-Wright Trading Down 0.2 %

Shares of CW stock traded down $0.42 during mid-day trading on Thursday, reaching $276.58. The company’s stock had a trading volume of 138,884 shares, compared to its average volume of 188,532. The company’s 50 day simple moving average is $254.95 and its 200-day simple moving average is $232.85. Curtiss-Wright Co. has a 12-month low of $157.85 and a 12-month high of $279.90. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $10.59 billion, a PE ratio of 28.54 and a beta of 1.18.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.24. The business had revenue of $713.17 million during the quarter, compared to analyst estimates of $664.01 million. Curtiss-Wright had a net margin of 12.78% and a return on equity of 16.79%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the business earned $1.53 EPS. On average, research analysts predict that Curtiss-Wright Co. will post 10.31 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.30%. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 17th. Curtiss-Wright’s dividend payout ratio (DPR) is presently 8.24%.

Insider Activity at Curtiss-Wright

In related news, VP Paul J. Ferdenzi sold 2,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $240.00, for a total transaction of $600,000.00. Following the completion of the sale, the vice president now directly owns 17,383 shares of the company’s stock, valued at approximately $4,171,920. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Curtiss-Wright news, COO Kevin Rayment sold 1,070 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $243.50, for a total transaction of $260,545.00. Following the completion of the transaction, the chief operating officer now directly owns 28,329 shares of the company’s stock, valued at approximately $6,898,111.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Paul J. Ferdenzi sold 2,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $240.00, for a total transaction of $600,000.00. Following the transaction, the vice president now directly owns 17,383 shares of the company’s stock, valued at $4,171,920. The disclosure for this sale can be found here. In the last three months, insiders sold 12,451 shares of company stock valued at $3,030,512. Corporate insiders own 0.55% of the company’s stock.

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.