Parametrica Management Ltd purchased a new stake in shares of Curtiss-Wright Corp. (NYSE:CW) during the first quarter, HoldingsChannel.com reports. The fund purchased 4,108 shares of the aerospace company’s stock, valued at approximately $466,000. Curtiss-Wright accounts for approximately 1.0% of Parametrica Management Ltd’s investment portfolio, making the stock its 8th largest position.
Other institutional investors have also added to or reduced their stakes in the company. Utah Retirement Systems grew its stake in Curtiss-Wright by 1.2% in the 4th quarter. Utah Retirement Systems now owns 8,200 shares of the aerospace company’s stock valued at $837,000 after buying an additional 100 shares during the last quarter. Campbell Newman Asset Management Inc. grew its stake in Curtiss-Wright by 2.4% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 5,321 shares of the aerospace company’s stock valued at $603,000 after buying an additional 124 shares during the last quarter. Brand Asset Management Group Inc. grew its stake in Curtiss-Wright by 49.6% in the 1st quarter. Brand Asset Management Group Inc. now owns 377 shares of the aerospace company’s stock valued at $46,000 after buying an additional 125 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Curtiss-Wright by 7.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,805 shares of the aerospace company’s stock valued at $286,000 after buying an additional 183 shares during the last quarter. Finally, Virginia Retirement Systems ET AL grew its stake in Curtiss-Wright by 2.7% in the 4th quarter. Virginia Retirement Systems ET AL now owns 7,500 shares of the aerospace company’s stock valued at $766,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 77.37% of the company’s stock.
In related news, Director S Marce Fuller sold 1,250 shares of Curtiss-Wright stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $121.07, for a total transaction of $151,337.50. Following the completion of the transaction, the director now directly owns 11,222 shares of the company’s stock, valued at approximately $1,358,647.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Curtiss-Wright from a “sell” rating to a “hold” rating in a research report on Wednesday, February 6th. Robert W. Baird raised their price target on shares of Curtiss-Wright from $123.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. Bank of America lowered shares of Curtiss-Wright from a “buy” rating to a “neutral” rating and set a $135.00 price target on the stock. in a research report on Friday, March 1st. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Curtiss-Wright from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Curtiss-Wright presently has a consensus rating of “Buy” and a consensus target price of $134.29.
Shares of Curtiss-Wright stock opened at $116.22 on Friday. The company has a current ratio of 2.05, a quick ratio of 1.31 and a debt-to-equity ratio of 0.56. Curtiss-Wright Corp. has a twelve month low of $95.23 and a twelve month high of $141.29. The stock has a market cap of $4.88 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.29 and a beta of 1.24.
Curtiss-Wright (NYSE:CW) last issued its earnings results on Wednesday, May 8th. The aerospace company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.14. Curtiss-Wright had a net margin of 11.78% and a return on equity of 18.68%. The business had revenue of $578.30 million for the quarter, compared to analyst estimates of $574.76 million. During the same period in the previous year, the business earned $0.98 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. Research analysts forecast that Curtiss-Wright Corp. will post 7.13 earnings per share for the current year.
Curtiss-Wright declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 15th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the aerospace company to purchase up to 4.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Thursday, June 20th will be issued a dividend of $0.17 per share. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.59%. The ex-dividend date is Wednesday, June 19th. Curtiss-Wright’s dividend payout ratio (DPR) is currently 9.42%.
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Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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