Whittier Trust Co. grew its stake in Curtiss-Wright Corp. (NYSE:CW) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,073 shares of the aerospace company’s stock after purchasing an additional 802 shares during the quarter. Whittier Trust Co. owned approximately 0.06% of Curtiss-Wright worth $3,315,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of CW. Carroll Financial Associates Inc. acquired a new position in shares of Curtiss-Wright in the second quarter valued at about $38,000. Brand Asset Management Group Inc. grew its stake in shares of Curtiss-Wright by 49.6% in the first quarter. Brand Asset Management Group Inc. now owns 377 shares of the aerospace company’s stock valued at $46,000 after acquiring an additional 125 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Curtiss-Wright by 836.5% in the first quarter. Quadrant Capital Group LLC now owns 590 shares of the aerospace company’s stock valued at $65,000 after acquiring an additional 527 shares in the last quarter. Accurate Investment Solutions Inc. acquired a new position in shares of Curtiss-Wright in the first quarter valued at about $68,000. Finally, Riggs Asset Managment Co. Inc. acquired a new position in shares of Curtiss-Wright in the first quarter valued at about $69,000. 76.37% of the stock is currently owned by institutional investors.
CW has been the topic of several research reports. ValuEngine upgraded shares of Curtiss-Wright from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Zacks Investment Research upgraded shares of Curtiss-Wright from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus upped their price target on shares of Curtiss-Wright from $138.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $139.33.
Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Wednesday, July 31st. The aerospace company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.13. The firm had revenue of $639.00 million for the quarter, compared to the consensus estimate of $642.66 million. Curtiss-Wright had a net margin of 11.90% and a return on equity of 18.76%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 earnings per share. On average, sell-side analysts anticipate that Curtiss-Wright Corp. will post 7.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Thursday, June 20th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.55%. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, June 19th. Curtiss-Wright’s dividend payout ratio is presently 10.68%.
Curtiss-Wright declared that its board has approved a share repurchase program on Wednesday, May 15th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the aerospace company to reacquire up to 4.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In other Curtiss-Wright news, CEO David Charles Adams sold 7,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $130.01, for a total transaction of $910,070.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Glenn E. Tynan sold 5,000 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $115.00, for a total transaction of $575,000.00. The disclosure for this sale can be found here. Insiders have sold 17,000 shares of company stock worth $2,060,070 over the last quarter. Corporate insiders own 0.90% of the company’s stock.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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