TimesSquare Capital Management LLC Purchases 166,672 Shares of Curtiss-Wright Co. (NYSE:CW)

TimesSquare Capital Management LLC increased its stake in Curtiss-Wright Co. (NYSE:CW) by 1,773.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,072 shares of the aerospace company’s stock after acquiring an additional 166,672 shares during the period. TimesSquare Capital Management LLC’s holdings in Curtiss-Wright were worth $62,483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CW. YANKCOM Partnership bought a new stake in shares of Curtiss-Wright in the 4th quarter valued at about $31,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Curtiss-Wright in the 3rd quarter valued at about $53,000. Brooklyn Investment Group bought a new stake in shares of Curtiss-Wright in the 3rd quarter valued at about $59,000. UMB Bank n.a. increased its holdings in Curtiss-Wright by 61.0% during the 4th quarter. UMB Bank n.a. now owns 169 shares of the aerospace company’s stock valued at $60,000 after purchasing an additional 64 shares during the period. Finally, Morse Asset Management Inc purchased a new position in Curtiss-Wright during the 3rd quarter valued at about $69,000. Institutional investors own 82.71% of the company’s stock.

Insider Activity

In related news, VP John C. Watts sold 622 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $347.05, for a total value of $215,865.10. Following the transaction, the vice president now directly owns 5,072 shares of the company’s stock, valued at approximately $1,760,237.60. This trade represents a 10.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul J. Ferdenzi sold 1,907 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $346.98, for a total value of $661,690.86. Following the completion of the transaction, the insider now directly owns 18,405 shares in the company, valued at approximately $6,386,166.90. This represents a 9.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 116 shares of company stock valued at $35,278 and have sold 23,064 shares valued at $8,157,322. Insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Alembic Global Advisors assumed coverage on Curtiss-Wright in a report on Tuesday, October 29th. They set an “overweight” rating and a $412.00 price target on the stock. Stifel Nicolaus downgraded Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price target on the stock. in a report on Monday, November 18th. Morgan Stanley boosted their price target on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup assumed coverage on Curtiss-Wright in a report on Tuesday, January 21st. They set a “buy” rating and a $410.00 price target on the stock. Finally, Truist Financial boosted their price target on Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $386.86.

Curtiss-Wright Stock Performance

Curtiss-Wright stock opened at $325.13 on Wednesday. The company has a market capitalization of $12.34 billion, a P/E ratio of 30.76, a PEG ratio of 2.50 and a beta of 1.19. Curtiss-Wright Co. has a twelve month low of $232.82 and a twelve month high of $393.40. The company has a quick ratio of 1.39, a current ratio of 1.98 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average is $354.83 and its 200 day moving average is $342.60.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, February 12th. The aerospace company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.15. Curtiss-Wright had a return on equity of 17.21% and a net margin of 13.20%. On average, equities research analysts predict that Curtiss-Wright Co. will post 10.72 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 0.26%. Curtiss-Wright’s payout ratio is 7.95%.

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.