Curtiss-Wright Corporation $CW Stock Position Lifted by Aware Super Pty Ltd as trustee of Aware Super

Key Points

• Aware Super increased its Curtiss-Wright position by 23.3% in the third quarter, bringing its holdings to 62,285 shares worth approximately $33.9 million. Institutional investors collectively own 82.71% of the company.
• Curtiss-Wright reported quarterly EPS of $3.72, exceeding analyst expectations of $3.62, while revenue rose 5.4% year over year to $924.01 million. The company also raised its quarterly dividend from $0.24 to $0.26 per share.
• Analysts have generally turned more cautious, with several firms cutting price targets and assigning neutral or hold ratings. Despite this, the stock carries a consensus “Moderate Buy” rating with an average target price of $676.38.

Aware Super Pty Ltd as trustee of Aware Super lifted its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 23.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,285 shares of the aerospace company's stock after acquiring an additional 11,777 shares during the period. Aware Super Pty Ltd as trustee of Aware Super owned approximately 0.17% of Curtiss-Wright worth $33,872,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CW. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Curtiss-Wright in the 3rd quarter worth approximately $227,000. Childress Capital Advisors LLC increased its stake in shares of Curtiss-Wright by 2.8% during the third quarter. Childress Capital Advisors LLC now owns 1,442 shares of the aerospace company's stock valued at $784,000 after buying an additional 39 shares during the period. BOKF NA raised its holdings in shares of Curtiss-Wright by 17.0% during the third quarter. BOKF NA now owns 10,257 shares of the aerospace company's stock valued at $5,578,000 after acquiring an additional 1,488 shares in the last quarter. North Dakota State Investment Board raised its holdings in shares of Curtiss-Wright by 3.2% during the third quarter. North Dakota State Investment Board now owns 1,129 shares of the aerospace company's stock valued at $614,000 after acquiring an additional 35 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Curtiss-Wright by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 16,044 shares of the aerospace company's stock worth $8,725,000 after acquiring an additional 86 shares during the period. Institutional investors own 82.71% of the company's stock.

Curtiss-Wright Trading Up 1.6%

NYSE:CW opened at $483.69 on Tuesday. The stock has a fifty day moving average price of $537.36 and a 200 day moving average price of $667.33. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The firm has a market cap of $17.86 billion, a PE ratio of 33.29, a price-to-earnings-growth ratio of 2.00 and a beta of 0.88. Curtiss-Wright Corporation has a 12-month low of $453.42 and a 12-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 for the quarter, topping analysts' consensus estimates of $3.62 by $0.10. The company had revenue of $924.01 million during the quarter, compared to analysts' expectations of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $3.23 EPS. Sell-side analysts anticipate that Curtiss-Wright Corporation will post 15.33 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were given a $0.26 dividend. This is a positive change from Curtiss-Wright's previous quarterly dividend of $0.24. The ex-dividend date was Friday, September 25th. This represents a $1.04 dividend on an annualized basis and a yield of 0.2%. Curtiss-Wright's payout ratio is 7.16%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stifel Nicolaus lowered their price objective on shares of Curtiss-Wright from $700.00 to $518.00 and set a "hold" rating for the company in a research report on Monday, October 19th. Citigroup decreased their price objective on Curtiss-Wright from $793.00 to $622.00 and set a "neutral" rating for the company in a report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on Curtiss-Wright in a research note on Wednesday, August 12th. Wall Street Zen lowered Curtiss-Wright from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Piper Sandler dropped their price target on shares of Curtiss-Wright from $665.00 to $586.00 and set a "neutral" rating on the stock in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Curtiss-Wright presently has an average rating of "Moderate Buy" and a consensus target price of $676.38.

Insider Buying and Selling at Curtiss-Wright

In related news, Director Larry D. Wyche sold 100 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total transaction of $59,674.00. Following the completion of the transaction, the director directly owned 1,414 shares of the company's stock, valued at $843,790.36. This represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John Watts sold 1,035 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were 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 of the company's stock, valued at approximately $1,694,842.56. The trade was a 27.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company's stock.

About Curtiss-Wright

Curtiss-Wright Corporation NYSE: CW is a diversified industrial company that provides highly engineered products and services to the aerospace, defense, commercial nuclear power, and general industrial markets. The company designs and manufactures equipment used in applications that require reliable performance in demanding operating environments.

Its products and technologies include motion-control systems, valves, pumps, actuation equipment, sensors, data-acquisition systems, embedded computing products, and aircraft structural components.

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