Inspire Investing LLC Decreases Stake in Curtiss-Wright Corporation $CW

Inspire Investing LLC reduced its position in Curtiss-Wright Corporation (NYSE:CW) by 33.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,790 shares of the aerospace company’s stock after selling 3,468 shares during the period. Inspire Investing LLC’s holdings in Curtiss-Wright were worth $3,317,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. 1 North Wealth Services LLC purchased a new stake in Curtiss-Wright during the first quarter valued at approximately $32,000. Private Trust Co. NA raised its position in Curtiss-Wright by 13,800.0% during the first quarter. Private Trust Co. NA now owns 139 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 138 shares during the period. West Oak Capital LLC purchased a new stake in Curtiss-Wright during the second quarter valued at approximately $49,000. Tsfg LLC raised its position in Curtiss-Wright by 112.7% during the first quarter. Tsfg LLC now owns 217 shares of the aerospace company’s stock valued at $69,000 after purchasing an additional 115 shares during the period. Finally, Flaharty Asset Management LLC purchased a new stake in Curtiss-Wright during the first quarter valued at approximately $69,000. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Down 2.8%

Shares of NYSE:CW opened at $539.07 on Friday. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $561.49. The stock has a market cap of $20.31 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 3.39 and a beta of 1.14. The business’s 50 day moving average is $504.92 and its 200 day moving average is $444.71. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The company had revenue of $876.58 million for the quarter, compared to analysts’ expectations of $855.10 million. During the same quarter in the prior year, the firm earned $2.67 earnings per share. Curtiss-Wright’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.96 annualized dividend and a yield of 0.2%. Curtiss-Wright’s dividend payout ratio is 8.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CW. Citigroup upped their price objective on Curtiss-Wright from $525.00 to $568.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Wall Street Zen cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $625.00 target price on shares of Curtiss-Wright in a research note on Wednesday. Morgan Stanley upped their target price on Curtiss-Wright from $405.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Finally, Truist Financial cut their target price on Curtiss-Wright from $356.00 to $338.00 and set a “hold” rating on the stock in a research note on Friday, July 11th. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $492.86.

Insider Transactions at Curtiss-Wright

In related news, VP John C. Watts sold 1,110 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $480.50, for a total value of $533,355.00. Following the transaction, the vice president owned 3,863 shares of the company’s stock, valued at $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by company insiders.

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.