Envestnet Portfolio Solutions Inc. Reduces Stake in Curtiss-Wright Corporation (NYSE:CW)

Envestnet Portfolio Solutions Inc. decreased its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 38.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,030 shares of the aerospace company’s stock after selling 1,289 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Curtiss-Wright were worth $644,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. increased its position in shares of Curtiss-Wright by 10.6% during the 4th quarter. Harbour Investments Inc. now owns 312 shares of the aerospace company’s stock valued at $111,000 after purchasing an additional 30 shares during the last quarter. Cornerstone Investment Partners LLC increased its position in shares of Curtiss-Wright by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 918 shares of the aerospace company’s stock valued at $326,000 after purchasing an additional 32 shares during the last quarter. Ascent Group LLC grew its position in Curtiss-Wright by 4.9% during the 4th quarter. Ascent Group LLC now owns 713 shares of the aerospace company’s stock worth $253,000 after acquiring an additional 33 shares during the last quarter. Baird Financial Group Inc. grew its position in Curtiss-Wright by 1.6% during the 4th quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company’s stock worth $753,000 after acquiring an additional 34 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in Curtiss-Wright by 1.6% during the 1st quarter. Portside Wealth Group LLC now owns 2,144 shares of the aerospace company’s stock worth $680,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Performance

NYSE CW opened at $482.86 on Friday. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 42.96, a PEG ratio of 3.12 and a beta of 1.14. Curtiss-Wright Corporation has a twelve month low of $258.85 and a twelve month high of $484.05. The company has a current ratio of 1.89, a quick ratio of 1.28 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $413.32 and a 200 day moving average of $363.79.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.39 by $0.43. The firm had revenue of $805.65 million during the quarter, compared to analysts’ expectations of $767.32 million. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.99 earnings per share. Sell-side analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 16th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 16th. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 0.20%. Curtiss-Wright’s dividend payout ratio (DPR) is currently 8.54%.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 450 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $449.36, for a total value of $202,212.00. Following the completion of the transaction, the vice president now directly owns 4,959 shares in the company, valued at approximately $2,228,376.24. The trade was a 8.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruce D. Hoechner sold 1,900 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the sale, the director now owns 4,523 shares of the company’s stock, valued at approximately $2,026,304. The trade was a 29.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,130 shares of company stock worth $2,726,412. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CW. Robert W. Baird lifted their price objective on Curtiss-Wright from $432.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, May 22nd. Citigroup lifted their price objective on Curtiss-Wright from $444.00 to $520.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Stifel Nicolaus decreased their price target on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Truist Financial decreased their price target on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Finally, Wall Street Zen cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $418.00.

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.