Rhumbline Advisers Has $10.71 Million Position in Curtiss-Wright Corporation (CW)
Rhumbline Advisers boosted its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 14.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,415 shares of the aerospace company’s stock after acquiring an additional 13,127 shares during the quarter. Rhumbline Advisers owned 0.23% of Curtiss-Wright worth $10,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Curtiss-Wright by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 143 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in Curtiss-Wright during the 3rd quarter valued at approximately $212,000. Linscomb & Williams Inc. bought a new position in Curtiss-Wright during the 3rd quarter valued at approximately $212,000. WASHINGTON TRUST Co bought a new position in Curtiss-Wright during the 3rd quarter valued at approximately $217,000. Finally, Bingham Osborn & Scarborough LLC bought a new position in Curtiss-Wright during the 3rd quarter valued at approximately $222,000. Institutional investors own 74.90% of the company’s stock.
Curtiss-Wright Corporation (CW) opened at $120.97 on Friday. Curtiss-Wright Corporation has a 52-week low of $82.77 and a 52-week high of $121.85. The stock has a market capitalization of $5,338.29, a P/E ratio of 25.31, a PEG ratio of 2.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.08 and a quick ratio of 1.48.
Curtiss-Wright (NYSE:CW) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.21. Curtiss-Wright had a return on equity of 15.60% and a net margin of 9.70%. The firm had revenue of $567.90 million during the quarter, compared to analyst estimates of $539.28 million. During the same quarter in the prior year, the company earned $1.02 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. research analysts expect that Curtiss-Wright Corporation will post 4.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 29th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, November 28th. Curtiss-Wright’s dividend payout ratio is currently 12.45%.
A number of research firms have commented on CW. Seaport Global Securities reaffirmed a “buy” rating on shares of Curtiss-Wright in a research report on Friday, October 27th. Bank of America Corporation raised Curtiss-Wright from a “neutral” rating to a “buy” rating and set a $136.00 target price for the company in a research report on Monday, October 30th. Wells Fargo & Company increased their target price on Curtiss-Wright from $100.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Stifel Nicolaus increased their target price on Curtiss-Wright from $117.00 to $124.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $128.00 target price on shares of Curtiss-Wright in a research report on Friday, October 20th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $126.67.
In related news, VP Paul J. Ferdenzi sold 6,907 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $106.18, for a total value of $733,385.26. Following the sale, the vice president now owns 19,467 shares in the company, valued at approximately $2,067,006.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Charles Adams sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $119.04, for a total value of $2,023,680.00. Following the completion of the sale, the chief executive officer now owns 70,570 shares in the company, valued at approximately $8,400,652.80. The disclosure for this sale can be found here. Insiders sold a total of 60,488 shares of company stock valued at $7,041,956 in the last three months. Corporate insiders own 1.10% of the company’s stock.
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Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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