Assenagon Asset Management S.A. Acquires 39,392 Shares of Curtiss-Wright Corporation $CW

Assenagon Asset Management S.A. increased its holdings in shares of Curtiss-Wright Corporation (NYSE:CW) by 2,573.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,923 shares of the aerospace company’s stock after acquiring an additional 39,392 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Curtiss-Wright were worth $22,560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Curtiss-Wright during the third quarter valued at about $2,781,000. CIBC Bancorp USA Inc. bought a new stake in shares of Curtiss-Wright in the third quarter valued at approximately $37,812,000. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Curtiss-Wright by 108.0% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,336 shares of the aerospace company’s stock valued at $1,141,000 after buying an additional 1,213 shares in the last quarter. Inscription Capital LLC lifted its stake in shares of Curtiss-Wright by 248.3% during the 3rd quarter. Inscription Capital LLC now owns 2,553 shares of the aerospace company’s stock valued at $1,386,000 after buying an additional 1,820 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Curtiss-Wright by 3.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,218 shares of the aerospace company’s stock worth $100,567,000 after buying an additional 7,022 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Insider Activity

In related news, VP George P. Mcdonald sold 151 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $678.07, for a total value of $102,388.57. Following the sale, the vice president directly owned 4,210 shares of the company’s stock, valued at $2,854,674.70. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Kevin Rayment sold 907 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $677.38, for a total transaction of $614,383.66. Following the sale, the chief operating officer owned 31,493 shares of the company’s stock, valued at approximately $21,332,728.34. The trade was a 2.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 23,112 shares of company stock worth $14,768,527. Company insiders own 0.55% of the company’s stock.

Curtiss-Wright Stock Down 5.2%

CW opened at $666.05 on Friday. The company has a fifty day moving average price of $677.19 and a 200-day moving average price of $597.45. The firm has a market capitalization of $24.56 billion, a P/E ratio of 51.75, a price-to-earnings-growth ratio of 3.42 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 1.00. Curtiss-Wright Corporation has a one year low of $266.88 and a one year high of $730.12.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $0.13. The company had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.27 earnings per share. Equities research analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 7.46%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CW shares. Citigroup boosted their target price on shares of Curtiss-Wright from $661.00 to $718.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Morgan Stanley reiterated an “overweight” rating and issued a $760.00 price target on shares of Curtiss-Wright in a research report on Friday, February 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $748.00 price objective on shares of Curtiss-Wright in a report on Tuesday, February 17th. Finally, Stifel Nicolaus lifted their target price on Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a report on Friday, February 13th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Curtiss-Wright has a consensus rating of “Moderate Buy” and an average target price of $663.17.

About Curtiss-Wright

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.