VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 10,320 Curtiss-Wright Corporation $CW

Key Points

• The Virginia Retirement Systems acquired 10,320 shares of Curtiss-Wright Corporation, valued at approximately $5,042,000, as reported in their recent SEC filing.
• Several institutional investors increased their stakes in Curtiss-Wright, with TD Asset Management Inc boosting its stake by 14.4%, now owning shares valued at $385.65 million.
• Curtiss-Wright reported earnings of $3.23 per share for the recent quarter, exceeding analysts' expectations, and a current consensus rating of "Moderate Buy" among equities analysts.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake 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 fund acquired 10,320 shares of the aerospace company's stock, valued at approximately $5,042,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Asset Management Inc increased its stake in shares of Curtiss-Wright by 14.4% in the 2nd quarter. TD Asset Management Inc now owns 789,378 shares of the aerospace company's stock valued at $385,651,000 after buying an additional 99,643 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Curtiss-Wright by 23.3% in the 1st quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock valued at $175,417,000 after buying an additional 104,393 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Curtiss-Wright by 1.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 349,774 shares of the aerospace company's stock valued at $166,713,000 after buying an additional 6,261 shares during the period. AQR Capital Management LLC increased its stake in shares of Curtiss-Wright by 25.6% in the 1st quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company's stock valued at $81,761,000 after buying an additional 54,289 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Curtiss-Wright by 6.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 251,874 shares of the aerospace company's stock valued at $79,912,000 after buying an additional 14,684 shares during the period. 82.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price objective on Curtiss-Wright from $457.00 to $502.00 and gave the stock a "hold" rating in a research note on Monday. Truist Financial lifted their price objective on Curtiss-Wright from $463.00 to $525.00 and gave the stock a "hold" rating in a research note on Wednesday, October 15th. Morgan Stanley lifted their price objective on Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen cut Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Curtiss-Wright currently has a consensus rating of "Moderate Buy" and an average price target of $526.00.

Insider Activity at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the business's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $480.50, for a total value of $533,355.00. Following the sale, the vice president directly owned 3,863 shares in the company, valued at $1,856,171.50. The trade was a 22.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.

Curtiss-Wright Stock Up 3.0%

NYSE:CW opened at $561.72 on Tuesday. Curtiss-Wright Corporation has a 1 year low of $266.88 and a 1 year high of $575.07. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. The stock has a market cap of $21.17 billion, a price-to-earnings ratio of 47.40, a PEG ratio of 3.09 and a beta of 1.14. The stock has a 50-day moving average price of $512.23 and a two-hundred day moving average price of $456.49.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its 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. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The firm had revenue of $876.58 million during the quarter, compared to analysts' expectations of $855.10 million. During the same period in the previous year, the firm earned $2.67 earnings per share. The company's revenue was up 11.7% on a year-over-year basis. As a group, equities analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

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

About Curtiss-Wright

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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