Main Street Research LLC Takes Position in Curtiss-Wright Co. (NYSE:CW)

Main Street Research LLC acquired a new stake in Curtiss-Wright Co. (NYSE:CW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 940 shares of the aerospace company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new position in Curtiss-Wright in the fourth quarter valued at $25,000. First Horizon Advisors Inc. increased its holdings in Curtiss-Wright by 1,100.0% in the third quarter. First Horizon Advisors Inc. now owns 144 shares of the aerospace company’s stock valued at $28,000 after buying an additional 132 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Curtiss-Wright by 53.6% in the fourth quarter. Venturi Wealth Management LLC now owns 149 shares of the aerospace company’s stock valued at $33,000 after buying an additional 52 shares during the last quarter. Montag A & Associates Inc. increased its holdings in Curtiss-Wright by 67.0% in the third quarter. Montag A & Associates Inc. now owns 152 shares of the aerospace company’s stock valued at $30,000 after buying an additional 61 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Curtiss-Wright during the second quarter valued at approximately $28,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Stock Up 1.4 %

Shares of NYSE:CW traded up $3.54 during midday trading on Tuesday, hitting $250.62. 69,289 shares of the stock were exchanged, compared to its average volume of 186,885. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.50 and a current ratio of 2.13. Curtiss-Wright Co. has a 52-week low of $157.72 and a 52-week high of $261.46. The business’s fifty day simple moving average is $242.87 and its two-hundred day simple moving average is $223.44. The company has a market capitalization of $9.59 billion, a PE ratio of 26.87 and a beta of 1.18.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Thursday, February 15th. The aerospace company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.24. Curtiss-Wright had a return on equity of 16.61% and a net margin of 12.46%. The company had revenue of $785.79 million for the quarter, compared to analyst estimates of $737.09 million. During the same period last year, the company earned $2.92 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Curtiss-Wright Co. will post 10.16 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Wednesday, March 27th. Curtiss-Wright’s dividend payout ratio is currently 8.70%.

Wall Street Analyst Weigh In

CW has been the subject of several analyst reports. Stifel Nicolaus boosted their price objective on Curtiss-Wright from $244.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Robert W. Baird boosted their price objective on Curtiss-Wright from $246.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. StockNews.com downgraded Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 26th. Finally, Truist Financial reiterated a “hold” rating and set a $240.00 price objective (down from $250.00) on shares of Curtiss-Wright in a research report on Monday, March 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.00.

Insider Activity

In related news, CFO K Christopher Farkas sold 2,736 shares of Curtiss-Wright stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $240.16, for a total transaction of $657,077.76. Following the sale, the chief financial officer now directly owns 9,172 shares of the company’s stock, valued at $2,202,747.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Kevin Rayment sold 1,070 shares of Curtiss-Wright stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $243.50, for a total transaction of $260,545.00. Following the sale, the chief operating officer now directly owns 28,329 shares of the company’s stock, valued at $6,898,111.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO K Christopher Farkas sold 2,736 shares of Curtiss-Wright stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $240.16, for a total value of $657,077.76. Following the sale, the chief financial officer now directly owns 9,172 shares in the company, valued at $2,202,747.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,451 shares of company stock valued at $3,030,512. 0.55% of the stock is owned by 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.