Nykredit A S Buys New Position in Curtiss-Wright Corporation $CW

Key Points

• Nykredit A/S acquired 12,693 Curtiss-Wright shares in the second quarter, valued at approximately $9.6 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. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $768.25.
• The company increased its quarterly dividend from $0.24 to $0.26 per share, representing an annualized dividend of $1.04 and a 0.2% yield. Two insiders also recently sold shares.

Nykredit A S bought a new position in Curtiss-Wright Corporation (NYSE:CW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 12,693 shares of the aerospace company's stock, valued at approximately $9,618,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CW. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Curtiss-Wright during the 2nd quarter worth $30,000. Quantbot Technologies LP bought a new stake in Curtiss-Wright during the 2nd quarter valued at $30,000. Cary Street Partners Investment Advisory LLC bought a new position in Curtiss-Wright in the 4th quarter worth about $31,000. Fiduciary Financial Advisors bought a new position in shares of Curtiss-Wright in the second quarter valued at approximately $31,000. Finally, Signature Equity Partners LLC increased its holdings in shares of Curtiss-Wright by 140.0% in the first quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company's stock worth $41,000 after purchasing an additional 35 shares during the period. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $567.03 on Monday. The firm has a market cap of $20.94 billion, a P/E ratio of 39.02, a PEG ratio of 2.56 and a beta of 0.84. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. Curtiss-Wright Corporation has a twelve month low of $502.00 and a twelve month high of $808.16. The company has a 50 day moving average of $659.55 and a 200 day moving average of $701.98.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.62 by $0.10. The company had revenue of $924.01 million for 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%.Curtiss-Wright's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $3.23 earnings per share. As a group, research analysts expect that Curtiss-Wright Corporation will post 15.27 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CW shares. Citigroup upped their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Piper Sandler initiated coverage on Curtiss-Wright in a research note on Wednesday, September 2nd. They issued a "neutral" rating and a $665.00 price target on the stock. Guggenheim started coverage on Curtiss-Wright in a research note on Monday, September 14th. They issued a "buy" rating and a $786.00 target price on the stock. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, August 12th. Finally, Wall Street Zen lowered Curtiss-Wright from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $768.25.

Insider Activity

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

About Curtiss-Wright

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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