Summit Financial LLC Acquires New Shares in Curtiss-Wright Co. (NYSE:CW)

Summit Financial LLC bought a new position in shares of Curtiss-Wright Co. (NYSE:CW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 707 shares of the aerospace company’s stock, valued at approximately $251,000.

Several other institutional investors also recently modified their holdings of the stock. YANKCOM Partnership acquired a new position in shares of Curtiss-Wright in the 4th quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new position in Curtiss-Wright in the third quarter valued at $53,000. UMB Bank n.a. increased its position in shares of Curtiss-Wright by 61.0% in the fourth quarter. UMB Bank n.a. now owns 169 shares of the aerospace company’s stock valued at $60,000 after acquiring an additional 64 shares during the last quarter. Morse Asset Management Inc bought a new stake in shares of Curtiss-Wright during the 3rd quarter worth approximately $69,000. Finally, Smartleaf Asset Management LLC raised its position in Curtiss-Wright by 85.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 228 shares of the aerospace company’s stock worth $82,000 after acquiring an additional 105 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Stock Down 6.4 %

CW stock opened at $283.63 on Friday. The business’s fifty day moving average price is $327.23 and its two-hundred day moving average price is $346.47. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 2.48 and a beta of 1.15. Curtiss-Wright Co. has a fifty-two week low of $246.43 and a fifty-two week high of $393.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.69 and a quick ratio of 1.19.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, February 12th. The aerospace company reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.15. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. On average, equities analysts anticipate that Curtiss-Wright Co. will post 12.32 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Thursday, March 27th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Thursday, March 27th. Curtiss-Wright’s dividend payout ratio is currently 7.96%.

Insiders Place Their Bets

In other news, CFO K Christopher Farkas sold 2,453 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $347.00, for a total transaction of $851,191.00. Following the completion of the sale, the chief financial officer now owns 12,712 shares of the company’s stock, valued at approximately $4,411,064. This represents a 16.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John C. Watts sold 622 shares of Curtiss-Wright stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $347.05, for a total transaction of $215,865.10. Following the completion of the transaction, the vice president now directly owns 5,072 shares in the company, valued at $1,760,237.60. This trade represents a 10.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 116 shares of company stock worth $35,278 and have sold 21,797 shares worth $7,436,255. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

CW has been the subject of several recent analyst reports. Truist Financial raised their target price on shares of Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. Citigroup initiated coverage on Curtiss-Wright in a research note on Tuesday, January 21st. They set a “buy” rating and a $410.00 target price for the company. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $386.86.

Curtiss-Wright 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.