Allianz Asset Management GmbH Trims Stock Position in Curtiss-Wright Corporation $CW

Allianz Asset Management GmbH cut its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,950 shares of the aerospace company’s stock after selling 120 shares during the quarter. Allianz Asset Management GmbH’s holdings in Curtiss-Wright were worth $2,907,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Essex LLC purchased a new position in Curtiss-Wright during the second quarter valued at approximately $227,000. Sagespring Wealth Partners LLC purchased a new position in Curtiss-Wright during the second quarter valued at approximately $214,000. TD Asset Management Inc increased its holdings in Curtiss-Wright by 14.4% during the second quarter. TD Asset Management Inc now owns 789,378 shares of the aerospace company’s stock valued at $385,651,000 after buying an additional 99,643 shares during the period. RFG Advisory LLC purchased a new position in Curtiss-Wright during the second quarter valued at approximately $214,000. Finally, Axxcess Wealth Management LLC purchased a new position in Curtiss-Wright during the second quarter valued at approximately $293,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of Curtiss-Wright stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the sale, the vice president directly owned 3,863 shares in the company, valued at approximately $1,856,171.50. The trade was a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

Curtiss-Wright Price Performance

NYSE CW opened at $571.01 on Friday. The firm’s fifty day simple moving average is $517.05 and its two-hundred day simple moving average is $461.50. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $575.07. The firm has a market capitalization of $21.51 billion, a P/E ratio of 48.19, a P/E/G ratio of 3.17 and a beta of 1.14.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The business had revenue of $876.58 million for the quarter, compared to analyst estimates of $855.10 million. During the same period in the previous year, the company earned $2.67 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, September 26th. Curtiss-Wright’s payout ratio is presently 8.10%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CW shares. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a report on Friday. Truist Financial lifted their price objective on shares of Curtiss-Wright from $463.00 to $525.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Wall Street Zen lowered shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $625.00 price target on shares of Curtiss-Wright in a report on Wednesday, October 8th. Finally, Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $457.00 to $502.00 and gave the stock a “hold” rating in a report on Monday. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus price target of $526.00.

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.