Merrion Investment Management Co LLC Purchases New Holdings in Curtiss-Wright Corporation $CW

Merrion Investment Management Co LLC purchased a new position in Curtiss-Wright Corporation (NYSE:CW) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,470 shares of the aerospace company’s stock, valued at approximately $799,000.

A number of other hedge funds have also modified their holdings of the company. Jackson Thornton Wealth Management LLC boosted its holdings in Curtiss-Wright by 4.9% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 410 shares of the aerospace company’s stock valued at $298,000 after acquiring an additional 19 shares during the period. AIA Group Ltd grew its holdings in shares of Curtiss-Wright by 0.6% in the first quarter. AIA Group Ltd now owns 3,412 shares of the aerospace company’s stock worth $2,324,000 after purchasing an additional 19 shares during the last quarter. Parallel Advisors LLC increased its stake in Curtiss-Wright by 10.5% in the 1st quarter. Parallel Advisors LLC now owns 305 shares of the aerospace company’s stock worth $208,000 after buying an additional 29 shares during the period. Private Advisor Group LLC increased its stake in Curtiss-Wright by 0.7% in the 1st quarter. Private Advisor Group LLC now owns 4,686 shares of the aerospace company’s stock worth $3,192,000 after buying an additional 31 shares during the period. Finally, Cooper Financial Group lifted its holdings in Curtiss-Wright by 9.3% during the 3rd quarter. Cooper Financial Group now owns 376 shares of the aerospace company’s stock valued at $204,000 after buying an additional 32 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings cut shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Wall Street Zen lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Piper Sandler initiated coverage on shares of Curtiss-Wright in a report on Wednesday, September 2nd. They issued a “neutral” rating and a $665.00 price target for the company. Morgan Stanley set a $625.00 price target on shares of Curtiss-Wright in a research report on Friday. Finally, Guggenheim started coverage on shares of Curtiss-Wright in a research note on Monday, September 14th. They set a “buy” rating and a $786.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $717.50.

Curtiss-Wright Stock Performance

NYSE:CW traded up $1.18 during mid-day trading on Friday, hitting $502.67. The company’s stock had a trading volume of 283,208 shares, compared to its average volume of 461,741. Curtiss-Wright Corporation has a 1 year low of $490.05 and a 1 year high of $808.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 2.26 and a beta of 0.88. The business’s fifty day moving average is $579.54 and its two-hundred day moving average is $679.84.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%. The business had revenue of $924.01 million during the quarter, compared to analyst estimates of $926.17 million. During the same quarter last year, the business posted $3.23 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Analysts anticipate that Curtiss-Wright Corporation will post 15.27 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, September 25th. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s dividend payout ratio is currently 7.16%.

Insider Buying and Selling

In other news, EVP John Watts sold 1,035 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the transaction, the executive vice president owned 2,736 shares in the company, valued at $1,694,842.56. This trade represents a 27.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Larry D. Wyche sold 100 shares of Curtiss-Wright stock in a transaction on Friday, August 28th. The shares were sold at an average price of $596.74, for a total transaction of $59,674.00. Following the completion of the sale, the director directly owned 1,414 shares in the company, valued at $843,790.36. This represents a 6.61% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.51% of the company’s stock.

Curtiss-Wright Profile

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.