Curtiss-Wright Corporation $CW Stake Raised by National Pension Service

Key Points

• National Pension Service sharply increased its Curtiss-Wright stake by 2,974.9% in the second quarter, reaching 63,928 shares valued at approximately $48.4 million. Institutional investors and hedge funds collectively own 82.71% of the company.
• Analyst sentiment remains cautious: Curtiss-Wright has an average “Hold” rating and a consensus price target of $765.71, despite Morgan Stanley maintaining an “Overweight” rating with an $860 target.
• Curtiss-Wright reported quarterly EPS of $3.72, exceeding estimates, while revenue rose 5.4% year over year. The company also raised its quarterly dividend to $0.26 per share, although the stock opened at $558.50, well below its 12-month high of $808.16.

National Pension Service lifted its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 2,974.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,928 shares of the aerospace company's stock after buying an additional 61,849 shares during the period. National Pension Service owned approximately 0.17% of Curtiss-Wright worth $48,442,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its stake in shares of Curtiss-Wright by 96,633.6% during the second quarter. California State Teachers Retirement System now owns 40,844,780 shares of the aerospace company's stock valued at $30,950,540,000 after purchasing an additional 40,802,556 shares in the last quarter. BlackRock Inc. bought a new position in Curtiss-Wright in the 2nd quarter valued at about $3,448,649,000. State Street Corp increased its stake in Curtiss-Wright by 1.2% during the 3rd quarter. State Street Corp now owns 1,436,161 shares of the aerospace company's stock valued at $780,091,000 after buying an additional 16,962 shares during the period. Invesco Ltd. increased its stake in Curtiss-Wright by 7.9% during the 4th quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company's stock valued at $671,231,000 after buying an additional 88,688 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Curtiss-Wright by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company's stock worth $464,130,000 after purchasing an additional 47,287 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CW has been the subject of several research analyst reports. Weiss Ratings lowered Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, September 4th. Morgan Stanley reaffirmed an "overweight" rating and set a $860.00 target price on shares of Curtiss-Wright in a report on Wednesday, July 15th. Stifel Nicolaus upped their price target on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a report on Monday, July 20th. Wall Street Zen downgraded shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a research report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $765.71.

Insider Transactions at Curtiss-Wright

In related news, EVP John C. Watts sold 1,035 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the completion of the sale, the executive vice president owned 2,736 shares in the company, valued at $1,694,842.56. This represents a 27.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Larry D. Wyche sold 100 shares of Curtiss-Wright stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the transaction, the director directly owned 1,414 shares in the company, valued at approximately $843,790.36. This represents a 6.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company's stock.

Curtiss-Wright Stock Down 0.2%

CW opened at $558.50 on Friday. The firm has a market cap of $20.63 billion, a P/E ratio of 38.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. The business has a 50 day moving average price of $679.86 and a 200 day moving average price of $706.99. Curtiss-Wright Corporation has a twelve month low of $490.66 and a twelve month high of $808.16.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.10. The business had revenue of $924.01 million during the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. Curtiss-Wright's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.23 EPS. Research analysts forecast that Curtiss-Wright Corporation will post 15.27 EPS for the current year.

Curtiss-Wright Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be given a $0.26 dividend. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, September 25th. Curtiss-Wright's dividend payout ratio (DPR) is 7.16%.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation NYSE: CW is a diversified industrial company that develops and manufactures highly engineered products and services for the aerospace, defense, commercial nuclear and general industrial markets. Its offerings include sensors, actuators, valves, pumps, electronic systems, embedded computing products, surface-treatment services and other components designed for demanding operating environments.

The company serves aerospace and defense customers with products used in aircraft, naval vessels, ground vehicles, missile systems and other defense platforms.

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