Vaughan Nelson Investment Management L.P. Raises Stock Position in Curtiss-Wright Corporation $CW

Vaughan Nelson Investment Management L.P. grew its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,740 shares of the aerospace company’s stock after acquiring an additional 2,065 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Curtiss-Wright were worth $64,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Curtiss-Wright by 1.2% in the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after buying an additional 16,962 shares in the last quarter. Invesco Ltd. boosted its position in shares of Curtiss-Wright by 7.9% in the 4th quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company’s stock worth $671,231,000 after buying an additional 88,688 shares in the last quarter. Geode Capital Management LLC grew its stake in Curtiss-Wright by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock valued at $464,130,000 after acquiring an additional 47,287 shares during the last quarter. TD Asset Management Inc grew its stake in Curtiss-Wright by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 791,531 shares of the aerospace company’s stock valued at $429,754,000 after acquiring an additional 2,153 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Curtiss-Wright by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company’s stock valued at $423,519,000 after acquiring an additional 39,515 shares in the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CW. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a research note on Friday, May 8th. Finally, Citigroup boosted their price objective on Curtiss-Wright from $728.00 to $775.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $746.67.

Curtiss-Wright Trading Up 1.2%

Shares of CW opened at $780.87 on Monday. Curtiss-Wright Corporation has a one year low of $458.74 and a one year high of $800.00. The stock has a 50-day moving average price of $733.85 and a 200 day moving average price of $672.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52. The company has a market capitalization of $28.85 billion, a P/E ratio of 57.21, a P/E/G ratio of 3.58 and a beta of 0.85.

Curtiss-Wright (NYSE:CW) last released its earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating the consensus estimate of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The company had revenue of $913.69 million during the quarter, compared to analysts’ expectations of $863.83 million. During the same period in the prior year, the business posted $2.82 EPS. The business’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts forecast that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright’s payout ratio is presently 7.62%.

Insider Activity

In other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total transaction of $288,058.05. Following the transaction, the vice president owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of Curtiss-Wright stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of the transaction, the executive vice president owned 3,962 shares of the company’s stock, valued at approximately $2,983,029.42. The trade was a 5.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,119 shares of company stock worth $2,257,998. 0.51% of the stock is currently owned by corporate insiders.

About Curtiss-Wright

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.