Credit Suisse AG reduced its stake in shares of Curtiss-Wright Corp. (NYSE:CW) by 10.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,249 shares of the aerospace company’s stock after selling 10,229 shares during the quarter. Credit Suisse AG owned about 0.20% of Curtiss-Wright worth $12,264,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Curtiss-Wright by 292.2% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 544,130 shares of the aerospace company’s stock valued at $74,774,000 after buying an additional 405,406 shares during the last quarter. Millennium Management LLC grew its stake in shares of Curtiss-Wright by 235.6% during the second quarter. Millennium Management LLC now owns 516,426 shares of the aerospace company’s stock valued at $61,465,000 after buying an additional 362,551 shares during the last quarter. Boston Partners grew its stake in shares of Curtiss-Wright by 25.3% during the second quarter. Boston Partners now owns 1,552,436 shares of the aerospace company’s stock valued at $184,771,000 after buying an additional 313,643 shares during the last quarter. BlackRock Inc. grew its stake in shares of Curtiss-Wright by 5.0% during the third quarter. BlackRock Inc. now owns 5,395,872 shares of the aerospace company’s stock valued at $741,500,000 after buying an additional 259,350 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Curtiss-Wright by 56.2% during the third quarter. JPMorgan Chase & Co. now owns 535,507 shares of the aerospace company’s stock valued at $73,589,000 after buying an additional 192,633 shares during the last quarter. 75.52% of the stock is currently owned by institutional investors.
Shares of NYSE CW opened at $103.58 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.25 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $4.60 billion, a P/E ratio of 16.85, a PEG ratio of 1.26 and a beta of 1.39. Curtiss-Wright Corp. has a 52-week low of $100.99 and a 52-week high of $143.38.
Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Tuesday, October 30th. The aerospace company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. The firm had revenue of $595.40 million during the quarter, compared to analyst estimates of $628.27 million. Curtiss-Wright had a return on equity of 17.59% and a net margin of 10.98%. Curtiss-Wright’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 earnings per share. Analysts anticipate that Curtiss-Wright Corp. will post 6.23 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. Curtiss-Wright’s payout ratio is 11.93%.
A number of research analysts have recently commented on CW shares. Zacks Investment Research raised Curtiss-Wright from a “hold” rating to a “strong-buy” rating and set a $152.00 target price on the stock in a research note on Tuesday, October 9th. Seaport Global Securities reaffirmed a “buy” rating on shares of Curtiss-Wright in a research note on Tuesday, October 30th. SunTrust Banks cut their target price on Curtiss-Wright to $148.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. ValuEngine cut Curtiss-Wright from a “hold” rating to a “sell” rating in a research note on Monday, November 12th. Finally, Bank of America lowered their price target on Curtiss-Wright from $150.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $132.88.
In other Curtiss-Wright news, VP Tom P. Quinly sold 2,120 shares of the company’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $108.76, for a total transaction of $230,571.20. Following the completion of the sale, the vice president now owns 34,783 shares in the company, valued at $3,782,999.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bruce D. Hoechner bought 470 shares of the stock in a transaction on Thursday, November 15th. The shares were bought at an average price of $107.16 per share, with a total value of $50,365.20. Following the acquisition, the director now owns 887 shares of the company’s stock, valued at $95,050.92. The disclosure for this purchase can be found here. Insiders sold 9,732 shares of company stock valued at $1,058,055 in the last quarter. 1.10% of the stock is owned by company insiders.
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Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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