Connective Portfolio Management LLC Makes New Investment in Curtiss-Wright Co. (NYSE:CW)

Connective Portfolio Management LLC acquired a new stake in Curtiss-Wright Co. (NYSE:CW) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 3,100 shares of the aerospace company’s stock, valued at approximately $1,019,000. Curtiss-Wright makes up approximately 1.1% of Connective Portfolio Management LLC’s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its holdings in shares of Curtiss-Wright by 1.7% in the first quarter. Sequoia Financial Advisors LLC now owns 2,685 shares of the aerospace company’s stock worth $687,000 after purchasing an additional 45 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Curtiss-Wright by 4.5% in the second quarter. CIBC Asset Management Inc now owns 1,066 shares of the aerospace company’s stock valued at $289,000 after acquiring an additional 46 shares during the period. Dorsey Wright & Associates boosted its holdings in shares of Curtiss-Wright by 0.4% during the second quarter. Dorsey Wright & Associates now owns 13,002 shares of the aerospace company’s stock worth $3,523,000 after purchasing an additional 47 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Curtiss-Wright by 2.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,176 shares of the aerospace company’s stock worth $557,000 after purchasing an additional 53 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in Curtiss-Wright by 3.5% during the 2nd quarter. Private Advisor Group LLC now owns 2,185 shares of the aerospace company’s stock valued at $592,000 after purchasing an additional 73 shares during the period. Institutional investors own 82.71% of the company’s stock.

Insider Activity at Curtiss-Wright

In related news, Director Glenda J. Minor sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $302.80, for a total value of $151,400.00. Following the sale, the director now owns 1,382 shares in the company, valued at approximately $418,469.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.67% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on CW. StockNews.com cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Stifel Nicolaus raised their price target on Curtiss-Wright from $310.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Robert W. Baird raised their target price on shares of Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Curtiss-Wright presently has an average rating of “Moderate Buy” and a consensus price target of $307.50.

Curtiss-Wright Stock Up 0.4 %

Shares of NYSE:CW traded up $1.20 during midday trading on Wednesday, reaching $339.32. The company’s stock had a trading volume of 11,098 shares, compared to its average volume of 217,587. The company has a quick ratio of 1.42, a current ratio of 2.05 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average of $308.58 and a 200-day moving average of $283.22. The firm has a market capitalization of $13.00 billion, a P/E ratio of 34.85 and a beta of 1.18. Curtiss-Wright Co. has a 12-month low of $194.46 and a 12-month high of $342.23.

Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, August 7th. The aerospace company reported $2.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.43. The firm had revenue of $785.00 million during the quarter, compared to analyst estimates of $735.82 million. Curtiss-Wright had a net margin of 13.05% and a return on equity of 17.07%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $2.15 earnings per share. On average, research analysts anticipate that Curtiss-Wright Co. will post 10.55 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, September 27th. Curtiss-Wright’s dividend payout ratio (DPR) is 8.65%.

About Curtiss-Wright

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.