Redmont Wealth Advisors LLC Reduces Holding in Curtiss-Wright (NYSE:CW)

Financial Advisors


Redmont Wealth Advisors LLC reduced its position in Curtiss-Wright (NYSE:CW – Free Report) by 18.2% in the first quarter, according to its latest Form 13F filed with the SEC. The institutional investor owned 3,434 shares in the aerospace company after selling 764 shares during the period. Curtiss-Wright accounts for 1.2% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock the 17th largest. Curtiss-Wright shares in Redmont Wealth Advisors LLC were worth $605,000 at the end of the most recent quarter.

Many other institutional investors and hedge funds have also increased or decreased their stakes in CW recently. BlackRock increased his stake in Curtiss-Wright stock by 18.8% during the first quarter. BlackRock purchased an additional 680,850 shares last quarter and now owns 4,300,543 shares of the aerospace company worth $645.77 million. Boston Partners increased its stake in Curtiss-Wright shares by 0.3% during the fourth quarter. Boston Partners now owns 1,682,615 shares of the aerospace company worth $280,919,000 after purchasing an additional 4,766 shares last quarter. State Street Corporation increased its stake in Curtiss-Wright stock by 10.4% in the first quarter. State Street Corporation purchased an additional 141,697 shares last quarter and now owns 1,500,162 shares of the company, valued at $225,531,000. AllianceBernstein LP increased its stake in Curtiss-Wright shares by 13.0% during the third quarter. AllianceBernstein LP purchased an additional 154,851 shares last quarter and now owns 1,342,510 shares of the aerospace company, valued at $186,824,000. Finally, Moneta Group Investment Advisors LLC purchased new shares of Curtiss-Wright stock valued at approximately $212,090,000 during the fourth quarter. Hedge funds and other institutional investors hold 81.31% of the company’s shares.

Analyst Rating Change

CW has been the subject of many research reports. William Blair began covering Curtiss-Wright stock on Friday, May 19, in a research note. They set an “Outperform” rating for the company. StockNews.com downgraded Curtiss-Wright stock to ‘buy’ from ‘strong buy’ in a research report on Tuesday. Finally, Stifel Nikolaus raised his price target on Curtiss-Wright stock from $196.00 to $200.00, giving the stock a Buy rating in its research report on Monday, April 17. One investment analyst gave the stock a “hold” rating, while five gave it a “buy” rating. MarketBeat.com data shows the stock has an average rating of “moderate buy” and a consensus price target of $186.80.

Curtiss-Wright trading down 1.0%

NYSE:CW fell $1.81 to $181.85 on Tuesday. The trading volume for this stock was 101,615 shares for him, with an average volume of 158,075 shares. The company has a 50-day moving average price of $169.02 and a 200-day moving average price of $169.63. The company has a quick ratio of 1.37, a current ratio of 2.15 and a debt to equity ratio of 0.60. Curtiss-Wright’s stock hit a one-year low of $125.91 and a one-year high of $183.90. The stock has a market cap of $6.97 billion, a price/earnings multiple of 22.63, and a beta of 1.27.

Curtiss-Wright (NYSE:CW – Free Report) last released quarterly earnings data on Wednesday, May 3rd. The aerospace company reported EPS of $1.53 for the quarter, beating consensus expectations of $1.41 for him by $0.12. Curtiss-Wright had a net profit margin of 11.81% and a return on equity of 16.54%. The company posted revenue of $631 million for the quarter, up from analyst expectations of $585.49 million. EPS for the business was $1.31 in the year-ago quarter. Revenue for the business in the quarter increased by 12.8% compared to the same period last year. Equity research analysts expect Curtiss-Wright to post earnings per share of $8.82 this fiscal year.

Curtiss-Wright increases dividend

The company also recently announced a quarterly dividend payable on Wednesday, July 5th. Investors registered on Friday, June 16 will be paid a dividend of $0.20 per share. This is up from Curtis-Wright’s previous quarterly dividend of $0.19. This equates to an annualized dividend of $0.80 and a yield of 0.44%. The ex-dividend date for this dividend will be June 15 (Thursday). Curtiss-Wright’s dividend payout ratio is currently 9.95%.

Curtiss Wright Company Profile

(free report)

Curtiss-Wright Corporation, along with its subsidiaries, provides engineered products, solutions, and services to the aerospace, defense, industrial, and power generation markets worldwide. He operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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