Resona Asset Management Co. Ltd. acquired a new position in Curtiss-Wright Corporation (NYSE:CW – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 10,711 shares of the aerospace company’s stock, valued at approximately $7,215,000.
A number of other hedge funds have also recently bought and sold shares of CW. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Curtiss-Wright during the fourth quarter worth $31,000. Larson Financial Group LLC boosted its holdings in Curtiss-Wright by 53.8% in the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 21 shares during the last quarter. Transamerica Financial Advisors LLC increased its position in Curtiss-Wright by 25.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company’s stock worth $40,000 after purchasing an additional 15 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Curtiss-Wright in the fourth quarter worth about $42,000. Finally, Elyxium Wealth LLC bought a new stake in Curtiss-Wright during the 4th quarter worth about $43,000. 82.71% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
CW has been the topic of a number of research reports. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Stifel Nicolaus set a $724.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Citigroup raised their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $749.67.
Curtiss-Wright Trading Down 0.6%
Shares of Curtiss-Wright stock traded down $4.69 during trading on Friday, hitting $755.02. 121,290 shares of the company were exchanged, compared to its average volume of 294,787. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The firm has a market capitalization of $27.89 billion, a P/E ratio of 55.31, a price-to-earnings-growth ratio of 3.47 and a beta of 0.86. The firm’s fifty day moving average price is $745.72 and its 200 day moving average price is $694.51. Curtiss-Wright Corporation has a 1-year low of $463.00 and a 1-year high of $808.16.
Curtiss-Wright (NYSE:CW – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. During the same period last year, the company posted $2.82 EPS. Curtiss-Wright’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts expect that Curtiss-Wright Corporation will post 15.18 earnings per share for the current fiscal year.
Curtiss-Wright Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were issued a $0.24 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.62%.
Insider Transactions at Curtiss-Wright
In related news, CEO Lynn M. Bamford sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the sale, the chief executive officer owned 48,134 shares in the company, valued at $34,739,270.48. This represents a 4.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the sale, the executive vice president directly owned 3,962 shares in the company, valued at $2,983,029.42. The trade was a 5.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,119 shares of company stock valued at $2,257,998 over the last three months. 0.51% of the stock is currently owned by corporate insiders.
About Curtiss-Wright
Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.
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