KLP Kapitalforvaltning AS Acquires 1,200 Shares of Curtiss-Wright Corporation $CW

Key Points

• KLP Kapitalforvaltning AS increased its stake in Curtiss-Wright Corporation by 12.0%, acquiring an additional 1,200 shares during the second quarter, bringing its total holdings to 11,200 shares worth approximately $5.47 million.
• Curtiss-Wright reported earnings of $3.23 per share for the last quarter, exceeding analysts' expectations, with revenue up 11.7% year-over-year at $876.58 million.
• The company declared a quarterly dividend of $0.24 per share, resulting in an annualized yield of 0.2%, with a dividend payout ratio of 8.10%.

KLP Kapitalforvaltning AS boosted its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 12.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,200 shares of the aerospace company's stock after buying an additional 1,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Curtiss-Wright were worth $5,474,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new position in Curtiss-Wright during the second quarter valued at approximately $228,000. DAVENPORT & Co LLC lifted its holdings in Curtiss-Wright by 19.4% during the second quarter. DAVENPORT & Co LLC now owns 1,813 shares of the aerospace company's stock valued at $886,000 after purchasing an additional 294 shares in the last quarter. David Wealth Management LLC purchased a new position in Curtiss-Wright during the second quarter valued at approximately $305,000. QRG Capital Management Inc. lifted its holdings in Curtiss-Wright by 19.3% during the second quarter. QRG Capital Management Inc. now owns 859 shares of the aerospace company's stock valued at $420,000 after purchasing an additional 139 shares in the last quarter. Finally, Ascent Group LLC lifted its holdings in Curtiss-Wright by 12.1% during the second quarter. Ascent Group LLC now owns 824 shares of the aerospace company's stock valued at $403,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company's stock.

Curtiss-Wright Price Performance

Curtiss-Wright stock opened at $539.07 on Friday. The company has a market cap of $20.31 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 3.39 and a beta of 1.14. The firm's fifty day moving average is $504.92 and its 200 day moving average is $444.71. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $561.49.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $0.10. The company had revenue of $876.58 million for the quarter, compared to the consensus estimate of $855.10 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. Curtiss-Wright's revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.67 earnings per share. Sell-side analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. Curtiss-Wright's dividend payout ratio is presently 8.10%.

Insider Transactions at Curtiss-Wright

In related news, VP John C. Watts sold 1,110 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $480.50, for a total transaction of $533,355.00. Following the sale, the vice president owned 3,863 shares of the company's stock, valued at $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a report on Monday, July 14th. Wall Street Zen downgraded shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Truist Financial lowered their target price on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Morgan Stanley boosted their target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus boosted their target price on shares of Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $492.86.

Curtiss-Wright Profile

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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