Assenagon Asset Management S.A. Reduces Holdings in Curtiss-Wright Corporation $CW

Assenagon Asset Management S.A. decreased its position in Curtiss-Wright Corporation (NYSE:CW) by 95.1% in the third quarter, HoldingsChannel.com reports. The fund owned 1,531 shares of the aerospace company’s stock after selling 29,772 shares during the period. Assenagon Asset Management S.A.’s holdings in Curtiss-Wright were worth $831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in CW. TD Asset Management Inc boosted its holdings 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 acquiring an additional 99,643 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Curtiss-Wright during the second quarter worth $270,731,000. Norges Bank acquired a new position in Curtiss-Wright during the second quarter valued at $241,537,000. AQR Capital Management LLC lifted its position in Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock valued at $189,468,000 after purchasing an additional 122,048 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Curtiss-Wright by 1.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 349,774 shares of the aerospace company’s stock valued at $166,713,000 after purchasing an additional 6,261 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CW. Citigroup started coverage on shares of Curtiss-Wright in a research note on Thursday, December 11th. They set a “neutral” rating and a $607.00 price objective on the stock. Wall Street Zen downgraded shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Stifel Nicolaus cut their price objective on shares of Curtiss-Wright from $587.00 to $584.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Truist Financial upped their price objective on shares of Curtiss-Wright from $525.00 to $537.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Finally, Morgan Stanley restated an “overweight” rating and set a $660.00 target price on shares of Curtiss-Wright in a research report on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $585.50.

Curtiss-Wright Stock Down 0.3%

Shares of NYSE:CW opened at $567.89 on Thursday. The business has a 50-day moving average price of $560.03 and a 200 day moving average price of $518.25. The company has a current ratio of 1.75, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 46.28, a PEG ratio of 2.99 and a beta of 0.93. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $612.28.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Thursday, November 6th. The aerospace company reported $3.40 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 business had revenue of $869.00 million during the quarter, compared to analyst estimates of $869.03 million. During the same quarter last year, the firm posted $2.89 earnings per share. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, November 28th. Curtiss-Wright’s dividend payout ratio is presently 7.82%.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.