Pallas Capital Advisors LLC Makes New Investment in Curtiss-Wright Co. (NYSE:CW)

Pallas Capital Advisors LLC bought a new position in Curtiss-Wright Co. (NYSE:CW) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 731 shares of the aerospace company’s stock, valued at approximately $232,000.

Several other large investors have also bought and sold shares of CW. Vanguard Group Inc. grew its stake in shares of Curtiss-Wright by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,634,028 shares of the aerospace company’s stock worth $1,289,608,000 after acquiring an additional 15,890 shares during the period. Invesco Ltd. grew its position in Curtiss-Wright by 6.4% in the 4th quarter. Invesco Ltd. now owns 1,417,445 shares of the aerospace company’s stock worth $503,009,000 after purchasing an additional 84,635 shares during the period. TD Asset Management Inc. grew its position in Curtiss-Wright by 16.2% in the 4th quarter. TD Asset Management Inc. now owns 766,413 shares of the aerospace company’s stock worth $271,977,000 after purchasing an additional 107,115 shares during the period. Geode Capital Management LLC grew its position in Curtiss-Wright by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 743,934 shares of the aerospace company’s stock worth $264,071,000 after purchasing an additional 12,086 shares during the period. Finally, Alliancebernstein L.P. grew its position in Curtiss-Wright by 1.2% in the 4th quarter. Alliancebernstein L.P. now owns 592,326 shares of the aerospace company’s stock worth $210,199,000 after purchasing an additional 6,971 shares during the period. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP George P. Mcdonald sold 148 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $325.41, for a total value of $48,160.68. Following the completion of the transaction, the vice president now owns 1,899 shares of the company’s stock, valued at approximately $617,953.59. This represents a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Lynn M. Bamford sold 3,131 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $325.41, for a total transaction of $1,018,858.71. Following the completion of the transaction, the chief executive officer now directly owns 42,887 shares of the company’s stock, valued at $13,955,858.67. This represents a 6.80% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,992 shares of company stock valued at $4,634,519. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CW. Stifel Nicolaus cut their target price on shares of Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Truist Financial cut their target price on shares of Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. Robert W. Baird lifted their target price 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. Wall Street Zen downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 24th. Finally, Citigroup lifted their target price on shares of Curtiss-Wright from $444.00 to $520.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $418.00.

Curtiss-Wright Trading Down 0.2%

Shares of CW stock opened at $473.43 on Friday. Curtiss-Wright Co. has a 1 year low of $258.85 and a 1 year high of $478.99. The firm has a fifty day moving average price of $385.35 and a 200-day moving average price of $357.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.69 and a quick ratio of 1.19. The company has a market cap of $17.83 billion, a price-to-earnings ratio of 44.88, a PEG ratio of 2.48 and a beta of 1.14.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the firm posted $1.99 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts predict that Curtiss-Wright Co. will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be issued a $0.24 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.96 annualized dividend and a yield of 0.20%. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.21. Curtiss-Wright’s dividend payout ratio is currently 8.54%.

Curtiss-Wright 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.