Redmont Wealth Advisors LLC Lowers Stock Holdings in Curtiss-Wright Co. (NYSE:CW)

Redmont Wealth Advisors LLC cut its stake in shares of Curtiss-Wright Co. (NYSE:CW) by 2.4% during the first quarter, HoldingsChannel.com reports. The fund owned 3,482 shares of the aerospace company’s stock after selling 86 shares during the quarter. Curtiss-Wright makes up approximately 1.2% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. Redmont Wealth Advisors LLC’s holdings in Curtiss-Wright were worth $891,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Venturi Wealth Management LLC increased its position in Curtiss-Wright by 53.6% during the 4th quarter. Venturi Wealth Management LLC now owns 149 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 52 shares during the period. Alliance Wealth Advisors LLC UT increased its holdings in Curtiss-Wright by 2.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 2,495 shares of the aerospace company’s stock valued at $556,000 after buying an additional 61 shares during the period. Tectonic Advisors LLC raised its stake in Curtiss-Wright by 5.0% in the fourth quarter. Tectonic Advisors LLC now owns 1,477 shares of the aerospace company’s stock worth $329,000 after buying an additional 71 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Curtiss-Wright by 27.5% during the fourth quarter. Quadrant Capital Group LLC now owns 334 shares of the aerospace company’s stock worth $74,000 after buying an additional 72 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Curtiss-Wright by 3.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,123 shares of the aerospace company’s stock valued at $473,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Performance

NYSE:CW traded up $0.93 during trading hours on Wednesday, reaching $272.58. The company had a trading volume of 134,163 shares, compared to its average volume of 201,096. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.02 and a quick ratio of 1.38. Curtiss-Wright Co. has a 1-year low of $180.47 and a 1-year high of $286.65. The business’s 50 day moving average price is $272.82 and its 200-day moving average price is $248.36. The firm has a market cap of $10.44 billion, a PE ratio of 27.99 and a beta of 1.18.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.24. The firm had revenue of $713.17 million during the quarter, compared to analysts’ expectations of $664.01 million. Curtiss-Wright had a net margin of 12.78% and a return on equity of 16.79%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 EPS. Research analysts forecast that Curtiss-Wright Co. will post 10.27 EPS for the current year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.21 per share. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 17th. Curtiss-Wright’s dividend payout ratio is presently 8.65%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CW. Robert W. Baird upped their price objective on Curtiss-Wright from $246.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their price target on shares of Curtiss-Wright from $293.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley lifted their price objective on shares of Curtiss-Wright from $284.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. StockNews.com raised Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 5th. Finally, Truist Financial increased their price objective on shares of Curtiss-Wright from $252.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $302.50.

Insider Activity

In other news, COO Kevin Rayment sold 8,415 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $281.67, for a total transaction of $2,370,253.05. Following the completion of the transaction, the chief operating officer now directly owns 19,914 shares of the company’s stock, valued at approximately $5,609,176.38. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, COO Kevin Rayment sold 8,415 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $281.67, for a total transaction of $2,370,253.05. Following the completion of the transaction, the chief operating officer now owns 19,914 shares in the company, valued at approximately $5,609,176.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director S Marce Fuller sold 5,300 shares of Curtiss-Wright stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $281.04, for a total value of $1,489,512.00. Following the completion of the sale, the director now owns 25,770 shares in the company, valued at $7,242,400.80. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Curtiss-Wright Company 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.