Panagora Asset Management Inc. Purchases 1,753 Shares of Curtiss-Wright Co. (NYSE:CW)

Panagora Asset Management Inc. lifted its position in shares of Curtiss-Wright Co. (NYSE:CW) by 41.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,954 shares of the aerospace company’s stock after buying an additional 1,753 shares during the quarter. Panagora Asset Management Inc.’s holdings in Curtiss-Wright were worth $1,326,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Contravisory Investment Management Inc. purchased a new stake in shares of Curtiss-Wright during the 4th quarter worth $25,000. Venturi Wealth Management LLC lifted its stake in shares of Curtiss-Wright by 53.6% during the 4th quarter. Venturi Wealth Management LLC now owns 149 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Montag A & Associates Inc. lifted its stake in shares of Curtiss-Wright by 67.0% during the 3rd quarter. Montag A & Associates Inc. now owns 152 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 61 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Curtiss-Wright during the 3rd quarter worth $49,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Curtiss-Wright during the 4th quarter worth $57,000. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Trading Down 1.7 %

Shares of NYSE:CW opened at $280.37 on Thursday. Curtiss-Wright Co. has a 52-week low of $157.85 and a 52-week high of $286.23. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 28.87 and a beta of 1.18. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $258.89 and a 200-day moving average price of $235.62.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.24. Curtiss-Wright had a return on equity of 16.79% and a net margin of 12.78%. The firm had revenue of $713.17 million during the quarter, compared to analysts’ expectations of $664.01 million. During the same period last year, the business posted $1.53 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts predict that Curtiss-Wright Co. will post 10.31 EPS for the current year.

Curtiss-Wright Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.30%. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 17th. Curtiss-Wright’s dividend payout ratio (DPR) is 8.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CW shares. Stifel Nicolaus increased their price target on Curtiss-Wright from $293.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird increased their price target on Curtiss-Wright from $246.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley increased their price target on Curtiss-Wright from $260.00 to $284.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Truist Financial increased their price target on Curtiss-Wright from $252.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 5th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Buy” and an average price target of $291.00.

Insider Buying and Selling

In related news, VP Paul J. Ferdenzi sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $250.00, for a total transaction of $625,000.00. Following the sale, the vice president now directly owns 15,942 shares of the company’s stock, valued at $3,985,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Curtiss-Wright news, CFO K Christopher Farkas sold 2,736 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $240.16, for a total value of $657,077.76. Following the sale, the chief financial officer now directly owns 9,172 shares of the company’s stock, valued at $2,202,747.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paul J. Ferdenzi sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $250.00, for a total value of $625,000.00. Following the completion of the sale, the vice president now directly owns 15,942 shares in the company, valued at $3,985,500. The disclosure for this sale can be found here. Insiders have sold a total of 12,451 shares of company stock valued at $3,030,512 over the last ninety days. Company insiders own 0.55% of the company’s stock.

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.