Fjarde AP Fonden Fourth Swedish National Pension Fund Buys New Stake in Curtiss-Wright Corporation $CW

Key Points

• Fjarde AP Fonden, the Fourth Swedish National Pension Fund, disclosed a new position in Curtiss-Wright during the first quarter, buying 8,440 shares valued at about $5.75 million.
• Several other institutional investors have also made large moves in CW, and institutions now own 82.71% of the company’s shares, indicating strong institutional interest.
• Curtiss-Wright reported better-than-expected quarterly results, with EPS of $3.48 and revenue of $913.69 million, while analysts currently view the stock as a Moderate Buy with an average price target of $749.67.

Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,440 shares of the aerospace company's stock, valued at approximately $5,749,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Curtiss-Wright during the 4th quarter worth about $290,633,000. Corient Private Wealth LLC lifted its position in Curtiss-Wright by 6,169.8% during the fourth quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company's stock worth $224,108,000 after buying an additional 400,047 shares during the period. Franklin Resources Inc. boosted its stake in Curtiss-Wright by 61.0% in the 4th quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company's stock worth $270,392,000 after buying an additional 185,887 shares during the last quarter. Axiom Investors LLC DE purchased a new stake in Curtiss-Wright in the 4th quarter valued at about $76,892,000. Finally, AQR Capital Management LLC increased its stake 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 valued at $189,468,000 after acquiring an additional 122,048 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the sale, the chief executive officer directly owned 48,134 shares of the company's stock, valued at $34,739,270.48. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total transaction of $288,058.05. Following the transaction, the vice president owned 2,172 shares of the company's stock, valued at $1,568,075.40. This 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. Insiders sold a total of 3,119 shares of company stock valued at $2,257,998 in the last quarter. Insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CW. Weiss Ratings downgraded shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a report on Friday, May 8th. Citigroup increased their price target on Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $749.67.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $758.94 on Monday. The business has a 50 day moving average price of $740.28 and a two-hundred day moving average price of $687.71. The firm has a market cap of $28.04 billion, a PE ratio of 55.60, a price-to-earnings-growth ratio of 3.52 and a beta of 0.86. Curtiss-Wright Corporation has a fifty-two week low of $463.00 and a fifty-two week high of $800.00. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping the consensus estimate of $3.32 by $0.16. The business had revenue of $913.69 million for the quarter, compared to analysts' expectations of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.82 earnings per share. Sell-side analysts expect that Curtiss-Wright Corporation will post 15.17 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

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

About Curtiss-Wright

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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