527,207 Shares in Curtiss-Wright Corporation $CW Bought by Norges Bank

Key Points

• Norges Bank bought 527,207 shares of Curtiss-Wright in the fourth quarter, worth about $290.6 million, and now owns roughly 1.43% of the company.
• Institutional interest remains high, with hedge funds and other investors owning 82.71% of the stock. Several firms, including AQR Capital Management and Swedbank, also increased their holdings.
• Curtiss-Wright reported better-than-expected quarterly results, with EPS of $3.48 and revenue of $913.69 million, while analysts currently rate the stock a Moderate Buy with a consensus target price of $746.67.

Norges Bank acquired a new position in Curtiss-Wright Corporation (NYSE:CW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 527,207 shares of the aerospace company's stock, valued at approximately $290,633,000. Norges Bank owned approximately 1.43% of Curtiss-Wright as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CW. AQR Capital Management LLC raised its position in shares of Curtiss-Wright by 45.8% in the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company's stock worth $189,468,000 after buying an additional 122,048 shares in the last quarter. Freestone Grove Partners LP bought a new position in Curtiss-Wright in the third quarter valued at $62,320,000. Swedbank AB increased its stake in Curtiss-Wright by 21,101.8% in the fourth quarter. Swedbank AB now owns 93,500 shares of the aerospace company's stock valued at $51,544,000 after acquiring an additional 93,059 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Curtiss-Wright in the fourth quarter valued at $51,089,000. Finally, M&T Bank Corp increased its stake in Curtiss-Wright by 5,993.0% in the fourth quarter. M&T Bank Corp now owns 77,868 shares of the aerospace company's stock valued at $42,926,000 after acquiring an additional 76,590 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company's stock.

Insiders Place Their Bets

In other Curtiss-Wright news, COO Kevin Rayment sold 907 shares of the firm's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $677.38, for a total value of $614,383.66. Following the completion of the sale, the chief operating officer directly owned 31,493 shares in the company, valued at $21,332,728.34. This trade represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO K Christopher Farkas sold 918 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $677.46, for a total transaction of $621,908.28. Following the completion of the sale, the chief financial officer owned 5,518 shares of the company's stock, valued at $3,738,224.28. This trade represents a 14.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,181 shares of company stock valued at $4,204,919 over the last ninety days. 0.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on CW. Morgan Stanley reissued an "overweight" rating and issued a $760.00 target price on shares of Curtiss-Wright in a research note on Friday, February 13th. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Stifel Nicolaus set a $724.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $748.00 target price on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Curtiss-Wright in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Curtiss-Wright currently has a consensus rating of "Moderate Buy" and a consensus target price of $746.67.

Curtiss-Wright Stock Up 0.1%

NYSE CW opened at $720.65 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The stock has a market capitalization of $26.62 billion, a PE ratio of 52.80, a PEG ratio of 3.34 and a beta of 0.85. Curtiss-Wright Corporation has a 1 year low of $443.00 and a 1 year high of $760.72. The business's 50-day moving average is $716.54 and its 200 day moving average is $653.27.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.16. The company had revenue of $913.69 million for the quarter, compared to analysts' expectations of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.Curtiss-Wright's quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm earned $2.82 earnings per share. Sell-side analysts forecast that Curtiss-Wright Corporation will post 15.15 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be issued a $0.24 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright's dividend payout ratio (DPR) is 7.03%.

Curtiss-Wright Company 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.

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