California Public Employees Retirement System Cuts Holdings in Curtiss-Wright Corporation $CW

California Public Employees Retirement System reduced its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 37.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,319 shares of the aerospace company’s stock after selling 40,772 shares during the quarter. California Public Employees Retirement System owned 0.18% of Curtiss-Wright worth $33,377,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $79,912,000 after purchasing an additional 14,684 shares during the period. Benjamin Edwards Inc. grew its holdings in Curtiss-Wright by 3.4% in the first quarter. Benjamin Edwards Inc. now owns 2,431 shares of the aerospace company’s stock valued at $771,000 after purchasing an additional 79 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Curtiss-Wright in the first quarter valued at approximately $302,000. Nuveen LLC acquired a new position in shares of Curtiss-Wright during the 1st quarter worth approximately $70,357,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Curtiss-Wright by 13.0% during the 1st quarter. Russell Investments Group Ltd. now owns 20,930 shares of the aerospace company’s stock worth $6,641,000 after buying an additional 2,415 shares during the period. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Stock Performance

NYSE:CW opened at $555.47 on Thursday. The company has a market cap of $20.49 billion, a P/E ratio of 45.27, a P/E/G ratio of 2.83 and a beta of 0.93. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $612.28. The company’s 50-day moving average price is $558.95 and its 200-day moving average price is $510.60. The company has a current ratio of 1.75, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Thursday, November 6th. The aerospace company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.12. Curtiss-Wright had a net margin of 13.78% and a return on equity of 18.82%. The company had revenue of $869.00 million during the quarter, compared to analysts’ expectations of $869.03 million. During the same quarter in the prior year, the company earned $2.89 EPS. Curtiss-Wright’s revenue was up 8.8% compared to the same quarter last year. On average, sell-side analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, November 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 7.82%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CW. Morgan Stanley lifted their price target on shares of Curtiss-Wright from $565.00 to $645.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $625.00 target price on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Stifel Nicolaus boosted their target price on shares of Curtiss-Wright from $457.00 to $502.00 and gave the stock a “hold” rating in a research note on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Curtiss-Wright in a research report on Monday. Finally, Truist Financial lifted their price objective on Curtiss-Wright from $525.00 to $537.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $562.83.

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.