Alps Advisors Inc. Acquires Shares of 2,342 Curtiss-Wright Corp. (CW)
Alps Advisors Inc. acquired a new stake in Curtiss-Wright Corp. (NYSE:CW) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,342 shares of the aerospace company’s stock, valued at approximately $285,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in Curtiss-Wright in the second quarter valued at $546,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Curtiss-Wright by 31.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,674 shares of the aerospace company’s stock valued at $199,000 after buying an additional 405 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Curtiss-Wright in the first quarter valued at $3,270,000. California Public Employees Retirement System increased its holdings in Curtiss-Wright by 21.5% in the first quarter. California Public Employees Retirement System now owns 88,483 shares of the aerospace company’s stock valued at $11,951,000 after buying an additional 15,633 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Curtiss-Wright by 13.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,474 shares of the aerospace company’s stock valued at $739,000 after buying an additional 649 shares in the last quarter. 75.26% of the stock is owned by institutional investors.
A number of research analysts have weighed in on CW shares. Zacks Investment Research cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Monday, August 13th. ValuEngine raised shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd. William Blair raised shares of Curtiss-Wright from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $145.00 to $129.00 in a research note on Monday, July 2nd. They noted that the move was a valuation call. Finally, UBS Group assumed coverage on shares of Curtiss-Wright in a research note on Wednesday, August 15th. They set a “neutral” rating and a $140.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $135.90.
CW stock opened at $135.94 on Thursday. The stock has a market cap of $5.92 billion, a PE ratio of 27.03, a P/E/G ratio of 1.72 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.16 and a quick ratio of 1.42. Curtiss-Wright Corp. has a 52 week low of $97.57 and a 52 week high of $143.38.
Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, July 25th. The aerospace company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.52. The business had revenue of $620.00 million during the quarter, compared to analysts’ expectations of $616.29 million. Curtiss-Wright had a net margin of 10.65% and a return on equity of 17.26%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 earnings per share. equities analysts anticipate that Curtiss-Wright Corp. will post 6.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Stockholders of record on Thursday, October 4th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.44%. Curtiss-Wright’s dividend payout ratio is currently 11.93%.
Curtiss-Wright declared that its board has authorized a share repurchase program on Monday, May 21st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the aerospace company to repurchase up to 0.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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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