First Citizens Bank & Trust Co. raised its position in shares of Curtiss-Wright Corp. (NYSE:CW) by 39.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,122 shares of the aerospace company’s stock after buying an additional 880 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Curtiss-Wright were worth $354,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Curtiss-Wright in the 4th quarter worth approximately $60,229,000. AQR Capital Management LLC boosted its holdings in shares of Curtiss-Wright by 47.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,506,235 shares of the aerospace company’s stock worth $206,987,000 after purchasing an additional 485,253 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Curtiss-Wright by 56.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 535,507 shares of the aerospace company’s stock worth $73,589,000 after purchasing an additional 192,633 shares during the period. Deutsche Bank AG lifted its stake in shares of Curtiss-Wright by 217.7% during the 4th quarter. Deutsche Bank AG now owns 235,905 shares of the aerospace company’s stock worth $24,089,000 after acquiring an additional 161,644 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Curtiss-Wright by 11,081.0% during the 4th quarter. FMR LLC now owns 83,522 shares of the aerospace company’s stock worth $8,529,000 after acquiring an additional 82,775 shares during the last quarter. Institutional investors and hedge funds own 77.13% of the company’s stock.
In related news, Director S Marce Fuller sold 1,250 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $121.07, for a total transaction of $151,337.50. Following the transaction, the director now directly owns 11,222 shares in the company, valued at approximately $1,358,647.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David Charles Adams sold 7,000 shares of the business’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $111.00, for a total value of $777,000.00. Following the transaction, the chief executive officer now owns 75,164 shares in the company, valued at $8,343,204. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,681 shares of company stock valued at $3,542,880. Corporate insiders own 0.90% of the company’s stock.
CW opened at $112.70 on Wednesday. The firm has a market capitalization of $4.81 billion, a PE ratio of 17.61, a P/E/G ratio of 2.32 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.96 and a quick ratio of 1.34. Curtiss-Wright Corp. has a 12 month low of $95.23 and a 12 month high of $143.38.
Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Tuesday, February 26th. The aerospace company reported $1.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.15. The firm had revenue of $648.62 million during the quarter, compared to analyst estimates of $688.52 million. Curtiss-Wright had a return on equity of 17.91% and a net margin of 11.43%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 EPS. Research analysts expect that Curtiss-Wright Corp. will post 6.92 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Wednesday, March 27th. Curtiss-Wright’s payout ratio is 9.42%.
A number of equities research analysts have weighed in on CW shares. Bank of America lowered Curtiss-Wright from a “buy” rating to a “neutral” rating and set a $135.00 target price for the company. in a research report on Friday, March 1st. They noted that the move was a valuation call. Robert W. Baird lifted their target price on Curtiss-Wright from $123.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, February 28th. Stifel Nicolaus raised Curtiss-Wright from a “hold” rating to a “buy” rating and lifted their target price for the company from $120.00 to $122.00 in a research report on Wednesday, December 19th. ValuEngine raised Curtiss-Wright from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, Zacks Investment Research reaffirmed a “buy” rating and set a $111.00 target price on shares of Curtiss-Wright in a research report on Monday, December 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $132.14.
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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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