BNP Paribas Financial Markets Raises Stake in Curtiss-Wright Corporation $CW

Key Points

• BNP Paribas Financial Markets increased its Curtiss-Wright stake by 24.9% in the fourth quarter, buying 6,275 additional shares and bringing its total to 31,472 shares valued at about $17.35 million.
• Curtiss-Wright reported strong quarterly results, with EPS of $3.48 beating estimates and revenue of $913.69 million topping forecasts; revenue rose 13.4% year over year.
• The company also declared a quarterly dividend of $0.24 per share, while analysts currently maintain a consensus rating of Moderate Buy with an average price target of $746.67.

BNP Paribas Financial Markets boosted its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,472 shares of the aerospace company's stock after buying an additional 6,275 shares during the period. BNP Paribas Financial Markets owned approximately 0.09% of Curtiss-Wright worth $17,350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new stake in Curtiss-Wright in the 3rd quarter worth approximately $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Curtiss-Wright in the 4th quarter worth approximately $31,000. Larson Financial Group LLC boosted its position in Curtiss-Wright by 53.8% in the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock worth $33,000 after purchasing an additional 21 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in Curtiss-Wright in the 4th quarter worth approximately $43,000. Finally, Sunbelt Securities Inc. purchased a new stake in Curtiss-Wright in the 3rd quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.71% of the company's stock.

Insider Activity

In other news, EVP John C. Watts sold 220 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the transaction, the executive vice president owned 3,962 shares in the company, valued at $2,983,029.42. This trade represents a 5.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 3,225 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $676.70, for a total value of $2,182,357.50. Following the completion of the transaction, the chief executive officer directly owned 50,634 shares of the company's stock, valued at approximately $34,264,027.80. This represents a 5.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 6,181 shares of company stock worth $4,204,919. Insiders own 0.51% of the company's stock.

Curtiss-Wright Trading Down 1.2%

Shares of NYSE:CW opened at $734.28 on Friday. Curtiss-Wright Corporation has a 1 year low of $443.00 and a 1 year high of $760.72. The firm has a market capitalization of $27.12 billion, a price-to-earnings ratio of 53.79, a price-to-earnings-growth ratio of 3.40 and a beta of 0.85. 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 business's 50 day moving average price is $719.93 and its 200-day moving average price is $657.51.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (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 firm had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. During the same quarter last year, the firm posted $2.82 EPS. The business's revenue was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that Curtiss-Wright Corporation will post 15.15 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright's dividend payout ratio (DPR) is 7.03%.

Wall Street Analysts Forecast Growth

CW has been the topic of several recent research reports. Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a research report on Friday, May 8th. Weiss Ratings restated a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $748.00 price objective on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Citigroup upped their price objective on Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Finally, Morgan Stanley restated an "overweight" rating and issued a $760.00 price objective on shares of Curtiss-Wright in a research report on Friday, February 13th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average 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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