Gabelli Funds LLC lowered its position in shares of Curtiss-Wright Corp. (NYSE:CW) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 633,200 shares of the aerospace company’s stock after selling 11,000 shares during the period. Gabelli Funds LLC’s holdings in Curtiss-Wright were worth $87,014,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia bought a new position in shares of Curtiss-Wright during the second quarter worth approximately $2,071,000. Systematic Financial Management LP increased its stake in shares of Curtiss-Wright by 26.3% during the second quarter. Systematic Financial Management LP now owns 85,151 shares of the aerospace company’s stock worth $10,135,000 after purchasing an additional 17,749 shares during the period. Verition Fund Management LLC increased its stake in shares of Curtiss-Wright by 167.0% during the second quarter. Verition Fund Management LLC now owns 7,737 shares of the aerospace company’s stock worth $921,000 after purchasing an additional 4,839 shares during the period. State of Alaska Department of Revenue bought a new position in Curtiss-Wright during the 2nd quarter worth $546,000. Finally, Paloma Partners Management Co increased its stake in Curtiss-Wright by 6,300.8% during the 2nd quarter. Paloma Partners Management Co now owns 136,337 shares of the aerospace company’s stock worth $16,226,000 after acquiring an additional 134,207 shares during the period. Institutional investors own 75.13% of the company’s stock.
CW has been the topic of a number of recent research reports. Zacks Investment Research lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. ValuEngine lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Stifel Nicolaus set a $120.00 price objective on Curtiss-Wright and gave the stock a “hold” rating in a research note on Thursday. SunTrust Banks lowered their price objective on Curtiss-Wright to $148.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Seaport Global Securities restated a “buy” rating on shares of Curtiss-Wright in a research note on Tuesday, October 30th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $138.50.
In other Curtiss-Wright news, Director S Marce Fuller sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $133.07, for a total value of $166,337.50. Following the sale, the director now owns 11,734 shares of the company’s stock, valued at approximately $1,561,443.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.
Curtiss-Wright stock opened at $110.53 on Monday. Curtiss-Wright Corp. has a one year low of $105.77 and a one year high of $143.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.53 and a current ratio of 2.25. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.40 and a beta of 1.40.
Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Tuesday, October 30th. The aerospace company reported $1.70 EPS for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.12. Curtiss-Wright had a return on equity of 17.59% and a net margin of 10.98%. The firm had revenue of $595.40 million for the quarter, compared to analyst estimates of $628.27 million. During the same quarter last year, the company earned $1.43 EPS. The company’s revenue was up 4.8% on a year-over-year basis. Equities research analysts expect that Curtiss-Wright Corp. will post 6.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Thursday, October 4th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, October 3rd. Curtiss-Wright’s dividend payout ratio is presently 11.93%.
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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