BI Asset Management Fondsmaeglerselskab A S Purchases 11,060 Shares of Curtiss-Wright Corporation $CW

Key Points

• BI Asset Management boosted its Curtiss-Wright stake by 304.2% in Q1, adding 11,060 shares to bring its total to 14,696 shares valued at about $10.0 million.
• Curttiss-Wright reported better-than-expected Q1 results, with EPS of $3.48 versus the $3.32 estimate and revenue of $913.69 million, up 13.4% from a year earlier.
• The company also announced a quarterly dividend of $0.24 per share, while analysts currently rate the stock Moderate Buy with an average price target of $746.67.

BI Asset Management Fondsmaeglerselskab A S grew its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 304.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,696 shares of the aerospace company's stock after acquiring an additional 11,060 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Curtiss-Wright were worth $10,010,000 at the end of the most recent reporting period.

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

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, EVP John C. Watts sold 220 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the transaction, the executive vice president owned 3,962 shares of the company's stock, valued at approximately $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the transaction, the vice president owned 2,172 shares in the company, valued at approximately $1,568,075.40. This trade represents a 15.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 3,119 shares of company stock worth $2,257,998. 0.51% of the stock is owned by insiders.

Curtiss-Wright Stock Up 1.2%

Shares of NYSE CW opened at $780.87 on Monday. Curtiss-Wright Corporation has a 1 year low of $458.74 and a 1 year high of $800.00. The firm's 50-day moving average is $733.85 and its 200-day moving average is $672.83. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $28.85 billion, a PE ratio of 57.21, a price-to-earnings-growth ratio of 3.58 and a beta of 0.85.

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

Curtiss-Wright Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CW shares. 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 report on Monday, May 18th. Weiss Ratings restated a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a report on Friday, May 8th. Finally, Stifel Nicolaus set a $724.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Curtiss-Wright presently has an average rating of "Moderate Buy" and an average price target 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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