ABN AMRO Bank N.V. Grows Stake in Curtiss-Wright Corporation $CW

Key Points

• ABN AMRO Bank N.V. increased its stake in Curtiss-Wright by 23.5% in the first quarter, buying 1,651 additional shares and lifting its position to 8,669 shares worth about $5.94 million.
• Curtiss-Wright reported strong quarterly results, with EPS of $3.48 versus $3.32 expected and revenue of $913.69 million, topping estimates and rising 13.4% year over year.
• The company also declared a quarterly dividend of $0.24 per share, while analysts currently rate the stock a Moderate Buy with a consensus target price of $746.67.

ABN AMRO Bank N.V. raised its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 23.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,669 shares of the aerospace company's stock after buying an additional 1,651 shares during the quarter. ABN AMRO Bank N.V.'s holdings in Curtiss-Wright were worth $5,940,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Curtiss-Wright during the 4th quarter valued at $31,000. Larson Financial Group LLC increased its position in Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock valued at $33,000 after buying an additional 21 shares in the last quarter. Transamerica Financial Advisors LLC raised its stake in Curtiss-Wright by 25.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock valued at $40,000 after buying an additional 15 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Curtiss-Wright during the fourth quarter valued at $42,000. Finally, Elyxium Wealth LLC bought a new stake in Curtiss-Wright in the fourth quarter worth $43,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Trading Down 2.6%

Shares of CW stock opened at $747.45 on Friday. Curtiss-Wright Corporation has a 52-week low of $463.00 and a 52-week high of $800.00. 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 firm has a market capitalization of $27.61 billion, a PE ratio of 54.76, a PEG ratio of 3.46 and a beta of 0.85. The stock has a fifty day simple moving average of $737.23 and a two-hundred day simple moving average of $679.65.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating analysts' consensus estimates of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The business had revenue of $913.69 million for the quarter, compared to analysts' expectations of $863.83 million. During the same period last year, the firm earned $2.82 earnings per share. The business's quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts predict that Curtiss-Wright Corporation will post 15.17 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright's payout ratio is 7.62%.

Insider Transactions at Curtiss-Wright

In related news, CEO Lynn M. Bamford sold 2,500 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the transaction, the chief executive officer owned 48,134 shares in the company, valued at approximately $34,739,270.48. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the sale, the executive vice president directly owned 3,962 shares in the company, valued at approximately $2,983,029.42. The trade was a 5.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CW shares. Weiss Ratings reissued a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a report on Friday, May 8th. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research note on Friday, May 8th. Finally, Citigroup upped their target price on shares of Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a research note on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $746.67.

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.

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