Oppenheimer & Co. Inc. Purchases Shares of 3,434 Curtiss-Wright Co. (NYSE:CW)

Posted by Defense World Staff on Feb 25th, 2023

Oppenheimer & Co. Inc. purchased a new stake in Curtiss-Wright Co. (NYSE:CW – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,434 shares of the aerospace company’s stock, valued at approximately $478,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CW. Fifth Third Bancorp increased its position in shares of Curtiss-Wright by 58.5% during the second quarter. Fifth Third Bancorp now owns 225 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 83 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in Curtiss-Wright in the 3rd quarter valued at about $51,000. Covestor Ltd increased its position in Curtiss-Wright by 91.3% in the 1st quarter. Covestor Ltd now owns 350 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 167 shares during the period. Ellevest Inc. increased its position in Curtiss-Wright by 35.4% in the 3rd quarter. Ellevest Inc. now owns 665 shares of the aerospace company’s stock valued at $93,000 after acquiring an additional 174 shares during the period. Finally, Van ECK Associates Corp increased its position in Curtiss-Wright by 9.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,045 shares of the aerospace company’s stock valued at $145,000 after acquiring an additional 94 shares during the period. 84.95% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Price Performance

Shares of NYSE:CW opened at $177.52 on Friday. The business’s 50 day simple moving average is $167.13 and its 200-day simple moving average is $161.29. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 23.33 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.56 and a quick ratio of 1.08. Curtiss-Wright Co. has a 12 month low of $124.37 and a 12 month high of $182.55.

Curtiss-Wright (NYSE:CW – Get Rating) last posted its earnings results on Tuesday, February 21st. The aerospace company reported $2.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.10). The company had revenue of $758.00 million during the quarter, compared to analysts’ expectations of $752.23 million. Curtiss-Wright had a net margin of 11.51% and a return on equity of 16.56%. Curtiss-Wright’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.40 EPS. As a group, equities analysts forecast that Curtiss-Wright Co. will post 8.8 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, March 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.43%. Curtiss-Wright’s payout ratio is 9.99%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 3rd. Truist Financial boosted their price target on Curtiss-Wright from $183.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird boosted their price target on Curtiss-Wright from $157.00 to $186.00 in a research report on Friday, November 4th. Finally, Morgan Stanley lowered Curtiss-Wright from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $187.00 to $188.00 in a report on Monday, December 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.80.

Insider Transactions at Curtiss-Wright

In other news, CEO Lynn M. Bamford sold 2,223 shares of the company’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $169.42, for a total transaction of $376,620.66. Following the completion of the sale, the chief executive officer now directly owns 17,356 shares in the company, valued at approximately $2,940,453.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP John C. Watts sold 492 shares of the stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $169.40, for a total value of $83,344.80. Following the completion of the sale, the vice president now directly owns 3,369 shares in the company, valued at approximately $570,708.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Lynn M. Bamford sold 2,223 shares of the stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $169.42, for a total value of $376,620.66. Following the completion of the sale, the chief executive officer now owns 17,356 shares of the company’s stock, valued at $2,940,453.52. The disclosure for this sale can be found here. Insiders sold a total of 5,991 shares of company stock worth $1,014,900 in the last ninety days. Insiders own 0.62% of the company’s stock.

Curtiss-Wright Company Profile

(Get Rating)

Curtiss-Wright Corporation is a global integrated business that provides engineered products, solutions, and services mainly to the aerospace and defense markets, as well as critical technologies in demanding commercial power, process, and industrial markets. It operates through the following three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.