Empowered Funds LLC Makes New Investment in Curtiss-Wright Co. (NYSE:CW)

Empowered Funds LLC purchased a new stake in shares of Curtiss-Wright Co. (NYSE:CW) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 17,540 shares of the aerospace company’s stock, valued at approximately $6,224,000.

A number of other large investors have also recently modified their holdings of CW. Sanctuary Advisors LLC bought a new position in Curtiss-Wright during the 2nd quarter worth about $238,000. CWM LLC lifted its position in shares of Curtiss-Wright by 84.7% in the 3rd quarter. CWM LLC now owns 1,228 shares of the aerospace company’s stock worth $404,000 after purchasing an additional 563 shares during the period. UMB Bank n.a. boosted its stake in shares of Curtiss-Wright by 303.8% during the third quarter. UMB Bank n.a. now owns 105 shares of the aerospace company’s stock valued at $35,000 after purchasing an additional 79 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Curtiss-Wright by 9.0% during the third quarter. Ritholtz Wealth Management now owns 3,725 shares of the aerospace company’s stock valued at $1,224,000 after buying an additional 308 shares during the period. Finally, Creative Planning raised its stake in Curtiss-Wright by 8.2% in the third quarter. Creative Planning now owns 3,005 shares of the aerospace company’s stock worth $988,000 after buying an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Insider Activity

In related news, VP John C. Watts sold 622 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $347.05, for a total value of $215,865.10. Following the sale, the vice president now owns 5,072 shares in the company, valued at $1,760,237.60. This represents a 10.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lynn M. Bamford sold 8,289 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $346.87, for a total transaction of $2,875,205.43. Following the transaction, the chief executive officer now directly owns 38,905 shares of the company’s stock, valued at $13,494,977.35. This represents a 17.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 116 shares of company stock valued at $35,278 and have sold 23,064 shares valued at $8,157,322. Corporate insiders own 0.67% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of Curtiss-Wright stock opened at $353.10 on Tuesday. The firm has a market capitalization of $13.40 billion, a P/E ratio of 33.41, a PEG ratio of 2.50 and a beta of 1.19. Curtiss-Wright Co. has a 52 week low of $225.33 and a 52 week high of $393.40. The company has a quick ratio of 1.39, a current ratio of 1.98 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average price of $359.60 and a 200 day moving average price of $340.53.

Curtiss-Wright Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, March 27th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 0.24%. Curtiss-Wright’s payout ratio is currently 7.95%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CW. Morgan Stanley lifted their price target on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus lowered Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 target price on the stock. in a research note on Monday, November 18th. Alembic Global Advisors started coverage on shares of Curtiss-Wright in a research report on Tuesday, October 29th. They set an “overweight” rating and a $412.00 price target for the company. Citigroup began coverage on shares of Curtiss-Wright in a research report on Tuesday, January 21st. They issued a “buy” rating and a $410.00 price objective on the stock. Finally, Truist Financial increased their target price on shares of Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Curtiss-Wright currently has an average rating of “Moderate Buy” and a consensus target price of $386.86.

About Curtiss-Wright

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.