Weiss Asset Management LP Takes $4.15 Million Position in Curtiss-Wright Corporation $CW

Weiss Asset Management LP bought a new position in Curtiss-Wright Corporation (NYSE:CW) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,095 shares of the aerospace company’s stock, valued at approximately $4,151,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Curtiss-Wright during the 4th quarter valued at $290,633,000. Corient Private Wealth LLC increased its position in shares of Curtiss-Wright by 6,169.8% in the fourth quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company’s stock valued at $224,108,000 after acquiring an additional 400,047 shares during the period. Franklin Resources Inc. increased its position in shares of Curtiss-Wright by 61.0% in the fourth quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company’s stock valued at $270,392,000 after acquiring an additional 185,887 shares during the period. Axiom Investors LLC DE bought a new position in shares of Curtiss-Wright during the fourth quarter valued at about $76,892,000. Finally, AQR Capital Management LLC raised its stake in shares of Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock valued at $189,468,000 after acquiring an additional 122,048 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on CW. Stifel Nicolaus raised their target price on Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a research note on Monday, July 20th. Weiss Ratings raised Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a research report on Friday, May 8th. Finally, Citigroup boosted their target price on Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $773.67.

Curtiss-Wright Stock Performance

Curtiss-Wright stock opened at $749.68 on Monday. The stock’s 50 day simple moving average is $745.86 and its two-hundred day simple moving average is $707.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52. The stock has a market cap of $27.69 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 3.44 and a beta of 0.86. Curtiss-Wright Corporation has a fifty-two week low of $464.91 and a fifty-two week high of $808.16.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.16. The company had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 earnings per share. As a group, analysts expect that Curtiss-Wright Corporation will post 15.22 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Monday, June 15th. Curtiss-Wright’s payout ratio is 7.62%.

Insider Activity

In related news, VP Gary A. Ogilby sold 399 shares of Curtiss-Wright stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the transaction, the vice president directly owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the sale, the chief executive officer directly owned 48,134 shares in the company, valued at $34,739,270.48. The trade was a 4.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 3,119 shares of company stock worth $2,257,998. Corporate insiders own 0.51% of the company’s stock.

Curtiss-Wright Profile

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.