Massachusetts Wealth Management Acquires New Stake in Curtiss-Wright Corporation $CW

Massachusetts Wealth Management acquired a new stake in Curtiss-Wright Corporation (NYSE:CW) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 545 shares of the aerospace company’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Curtiss-Wright by 23.3% during the 1st quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company’s stock worth $175,417,000 after purchasing an additional 104,393 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Curtiss-Wright by 1.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 343,513 shares of the aerospace company’s stock worth $110,769,000 after purchasing an additional 5,007 shares during the period. AQR Capital Management LLC increased its holdings in Curtiss-Wright by 25.6% during the 1st quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company’s stock worth $81,761,000 after purchasing an additional 54,289 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Curtiss-Wright by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 251,874 shares of the aerospace company’s stock worth $79,912,000 after purchasing an additional 14,684 shares during the period. Finally, Nuveen LLC purchased a new stake in Curtiss-Wright during the 1st quarter worth about $70,357,000. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CW. Truist Financial cut their price target on Curtiss-Wright from $356.00 to $338.00 and set a “hold” rating on the stock in a report on Friday, July 11th. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a report on Wednesday. Wall Street Zen downgraded Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $625.00 price objective on shares of Curtiss-Wright in a report on Wednesday. Finally, Stifel Nicolaus increased their price objective on Curtiss-Wright from $450.00 to $457.00 and gave the company a “hold” rating in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus target price of $492.86.

Curtiss-Wright Trading Up 3.2%

CW opened at $557.73 on Thursday. Curtiss-Wright Corporation has a one year low of $266.88 and a one year high of $561.49. The company has a market cap of $21.02 billion, a P/E ratio of 47.07, a PEG ratio of 3.31 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. The business’s 50-day simple moving average is $502.72 and its 200-day simple moving average is $441.83.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.10. The firm had revenue of $876.58 million during the quarter, compared to analysts’ expectations of $855.10 million. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.67 EPS. As a group, equities research analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

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

Insider Activity

In related news, VP John C. Watts sold 1,110 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $480.50, for a total value of $533,355.00. Following the completion of the sale, the vice president directly owned 3,863 shares of the company’s stock, valued at $1,856,171.50. This represents a 22.32% decrease in their position. 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.