HighTower Advisors LLC grew its stake in shares of Curtiss-Wright Co. (NYSE:CW – Get Rating) by 221.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,287 shares of the aerospace company’s stock after purchasing an additional 9,151 shares during the period. HighTower Advisors LLC’s holdings in Curtiss-Wright were worth $2,248,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in CW. Benjamin Edwards Inc. acquired a new stake in Curtiss-Wright in the fourth quarter valued at approximately $28,000. Covestor Ltd boosted its holdings in Curtiss-Wright by 91.3% in the 1st quarter. Covestor Ltd now owns 350 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 167 shares during the period. Belpointe Asset Management LLC bought a new stake in Curtiss-Wright in the 4th quarter valued at $54,000. Fifth Third Bancorp boosted its holdings in Curtiss-Wright by 208.2% in the 4th quarter. Fifth Third Bancorp now owns 715 shares of the aerospace company’s stock valued at $119,000 after purchasing an additional 483 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Curtiss-Wright by 9.9% during the 4th quarter. Van ECK Associates Corp now owns 1,148 shares of the aerospace company’s stock worth $192,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 84.95% of the company’s stock.
Insider Transactions at Curtiss-Wright
In other news, COO Kevin Rayment sold 1,055 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $171.00, for a total transaction of $180,405.00. Following the sale, the chief operating officer now owns 16,849 shares in the company, valued at approximately $2,881,179. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Lynn M. Bamford sold 1,337 shares of the stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $171.10, for a total value of $228,760.70. Following the sale, the chief executive officer now owns 18,998 shares in the company, valued at approximately $3,250,557.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Kevin Rayment sold 1,055 shares of the stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $171.00, for a total value of $180,405.00. Following the completion of the sale, the chief operating officer now owns 16,849 shares in the company, valued at approximately $2,881,179. The disclosure for this sale can be found here. Insiders have sold a total of 2,595 shares of company stock worth $444,305 in the last 90 days. Corporate insiders own 0.67% of the company’s stock.
Curtiss-Wright Trading Down 2.3 %
Curtiss-Wright (NYSE:CW – Get Rating) last released its earnings results on Wednesday, May 3rd. The aerospace company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.41 by $0.12. The firm had revenue of $631.00 million for the quarter, compared to analysts’ expectations of $585.49 million. Curtiss-Wright had a return on equity of 16.54% and a net margin of 11.81%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 EPS. As a group, analysts anticipate that Curtiss-Wright Co. will post 8.84 earnings per share for the current fiscal year.
Curtiss-Wright Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Friday, June 16th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.19. Curtiss-Wright’s dividend payout ratio is currently 9.95%.
Wall Street Analyst Weigh In
A number of brokerages have commented on CW. StockNews.com upgraded shares of Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 19th. Truist Financial upped their target price on shares of Curtiss-Wright from $183.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Stifel Nicolaus boosted their price objective on shares of Curtiss-Wright from $196.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 17th. Finally, William Blair assumed coverage on Curtiss-Wright in a research report on Friday, May 19th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Curtiss-Wright has an average rating of “Buy” and a consensus target price of $186.80.
Curtiss-Wright Corp. is a global integrated business that provides engineered products, solutions, and services mainly to the aerospace and defense markets, as well as critical technologies in demanding commercial power, process, and industrial markets. It operates through the following three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.
- Get a free copy of the StockNews.com research report on Curtiss-Wright (CW)
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