Vest Financial LLC Invests $2.42 Million in Curtiss-Wright Co. (NYSE:CW)

Vest Financial LLC bought a new position in Curtiss-Wright Co. (NYSE:CW) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,636 shares of the aerospace company’s stock, valued at approximately $2,423,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CW. Truist Financial Corp raised its position in shares of Curtiss-Wright by 6.2% during the 4th quarter. Truist Financial Corp now owns 14,230 shares of the aerospace company’s stock valued at $5,050,000 after buying an additional 825 shares in the last quarter. Athena Investment Management purchased a new stake in Curtiss-Wright during the fourth quarter valued at approximately $302,000. Daiwa Securities Group Inc. raised its position in Curtiss-Wright by 1,694.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 11,863 shares of the aerospace company’s stock valued at $4,210,000 after purchasing an additional 11,202 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Curtiss-Wright by 28.9% in the 4th quarter. JPMorgan Chase & Co. now owns 153,631 shares of the aerospace company’s stock valued at $54,519,000 after purchasing an additional 34,489 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Curtiss-Wright by 44,878.7% in the 1st quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company’s stock worth $82,340,000 after purchasing an additional 258,950 shares during the period. 82.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In related news, VP George P. Mcdonald sold 148 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $325.41, for a total transaction of $48,160.68. Following the sale, the vice president now owns 1,899 shares of the company’s stock, valued at $617,953.59. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul J. Ferdenzi sold 658 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $325.68, for a total transaction of $214,297.44. Following the completion of the transaction, the insider now owns 19,239 shares of the company’s stock, valued at $6,265,757.52. This represents a 3.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,992 shares of company stock worth $4,634,519. Corporate insiders own 0.55% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of NYSE:CW opened at $453.36 on Friday. The firm’s 50 day simple moving average is $368.49 and its 200-day simple moving average is $354.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.69. Curtiss-Wright Co. has a one year low of $258.85 and a one year high of $455.22. The firm has a market cap of $17.07 billion, a PE ratio of 42.97, a price-to-earnings-growth ratio of 2.48 and a beta of 1.14.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.43. Curtiss-Wright had a return on equity of 17.11% and a net margin of 12.98%. The business had revenue of $805.65 million during the quarter, compared to analyst estimates of $767.32 million. During the same period in the previous year, the company posted $1.99 EPS. Curtiss-Wright’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts predict that Curtiss-Wright Co. will post 12.32 EPS for the current year.

Curtiss-Wright Increases Dividend

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

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.