Assenagon Asset Management S.A. Acquires 39,392 Shares of Curtiss-Wright Corporation $CW

Key Points

• Assenagon Asset Management increased its stake in Curtiss‑Wright by 2,573% in Q4, buying an additional 39,392 shares to own 40,923 shares (about 0.11% of the company) valued at roughly $22.56 million per its 13F filing.
• Curtiss‑Wright beat expectations for the most recent quarter, reporting $3.79 EPS vs. $3.66 consensus and revenue of $947M vs. $890M expected, with revenue up 14.9% year‑over‑year.
• Insiders have sold 23,112 shares worth about $14.77 million over the last 90 days (insiders own 0.55%), while institutional investors hold a large 82.71% of the stock.

Assenagon Asset Management S.A. grew its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 2,573.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,923 shares of the aerospace company's stock after purchasing an additional 39,392 shares during the quarter. Assenagon Asset Management S.A. owned about 0.11% of Curtiss-Wright worth $22,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Curtiss-Wright during the second quarter worth $241,537,000. Massachusetts Financial Services Co. MA increased its stake in Curtiss-Wright by 31.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 728,745 shares of the aerospace company's stock valued at $395,665,000 after purchasing an additional 174,592 shares in the last quarter. Munro Partners acquired a new position in shares of Curtiss-Wright during the second quarter valued at about $78,000,000. AQR Capital Management LLC boosted its position in shares of Curtiss-Wright by 45.8% during the 2nd quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company's stock worth $189,468,000 after purchasing an additional 122,048 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of Curtiss-Wright during the 3rd quarter worth about $62,320,000. Institutional investors and hedge funds own 82.71% of the company's stock.

Insider Transactions at Curtiss-Wright

In related news, VP Gary A. Ogilby sold 252 shares of the business's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $689.14, for a total transaction of $173,663.28. Following the transaction, the vice president directly owned 2,571 shares in the company, valued at approximately $1,771,778.94. The trade was a 8.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP George P. Mcdonald sold 151 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $678.07, for a total transaction of $102,388.57. Following the completion of the sale, the vice president directly owned 4,210 shares of the company's stock, valued at $2,854,674.70. The trade was a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 23,112 shares of company stock worth $14,768,527. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup boosted their target price on Curtiss-Wright from $661.00 to $718.00 and gave the company a "neutral" rating in a research report on Friday, February 13th. Morgan Stanley reissued an "overweight" rating and issued a $760.00 price objective on shares of Curtiss-Wright in a research note on Friday, February 13th. Stifel Nicolaus boosted their price objective on Curtiss-Wright from $625.00 to $650.00 and gave the company a "hold" rating in a report on Friday, February 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a research report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $748.00 price target on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Curtiss-Wright currently has an average rating of "Moderate Buy" and an average target price of $663.17.

Curtiss-Wright Price Performance

CW stock opened at $666.05 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.44. The business has a 50-day simple moving average of $677.19 and a two-hundred day simple moving average of $597.45. The company has a market capitalization of $24.56 billion, a P/E ratio of 51.75, a price-to-earnings-growth ratio of 3.42 and a beta of 0.91. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $730.12.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share for the quarter, beating analysts' consensus estimates of $3.66 by $0.13. The company had revenue of $946.98 million for the quarter, compared to analyst estimates of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The company's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the company earned $3.27 earnings per share. Research analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, March 26th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright's dividend payout ratio (DPR) is 7.46%.

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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