Point72 Asia Singapore Pte. Ltd. Acquires New Shares in Curtiss-Wright Co. (NYSE:CW)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Curtiss-Wright Co. (NYSE:CW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,670 shares of the aerospace company’s stock, valued at approximately $452,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CW. Versant Capital Management Inc raised its holdings in Curtiss-Wright by 5,050.0% in the second quarter. Versant Capital Management Inc now owns 103 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 101 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new position in Curtiss-Wright in the second quarter worth about $30,000. EverSource Wealth Advisors LLC grew its stake in shares of Curtiss-Wright by 1,933.3% during the first quarter. EverSource Wealth Advisors LLC now owns 122 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 116 shares during the last quarter. Creekmur Asset Management LLC purchased a new stake in shares of Curtiss-Wright during the fourth quarter worth about $32,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Curtiss-Wright during the second quarter worth about $73,000. 82.71% of the stock is currently owned by institutional investors.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $324.89 on Thursday. The business’s 50 day moving average price is $299.03 and its 200 day moving average price is $277.23. The firm has a market cap of $12.44 billion, a P/E ratio of 33.46 and a beta of 1.18. Curtiss-Wright Co. has a 52 week low of $190.64 and a 52 week high of $333.73. The company has a quick ratio of 1.42, a current ratio of 2.05 and a debt-to-equity ratio of 0.39.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, August 7th. The aerospace company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.24 by $0.43. Curtiss-Wright had a return on equity of 17.07% and a net margin of 13.05%. The business had revenue of $785.00 million for the quarter, compared to analyst estimates of $735.82 million. During the same quarter in the prior year, the firm posted $2.15 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts expect that Curtiss-Wright Co. will post 10.55 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 0.26%. Curtiss-Wright’s dividend payout ratio is presently 8.65%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday. Robert W. Baird boosted their price target on Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus boosted their price target on Curtiss-Wright from $310.00 to $318.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $307.50.

Insiders Place Their Bets

In other Curtiss-Wright news, Director Glenda J. Minor sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $302.80, for a total value of $151,400.00. Following the sale, the director now owns 1,382 shares in the company, valued at approximately $418,469.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have purchased 120 shares of company stock worth $27,914. Corporate insiders own 0.67% of the company’s stock.

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.