Allianz Asset Management GmbH Takes Position in Curtiss-Wright Corporation (NYSE:CW)

Allianz Asset Management GmbH bought a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 6,070 shares of the aerospace company’s stock, valued at approximately $1,926,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CW. GAMMA Investing LLC raised its position in shares of Curtiss-Wright by 44,878.7% during the 1st quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company’s stock valued at $82,340,000 after acquiring an additional 258,950 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Curtiss-Wright during the 1st quarter valued at approximately $55,639,000. Bank of New York Mellon Corp increased its position in Curtiss-Wright by 23.3% in the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company’s stock worth $175,417,000 after buying an additional 104,393 shares during the period. Point72 Asset Management L.P. acquired a new stake in Curtiss-Wright in the fourth quarter worth $34,368,000. Finally, Raymond James Financial Inc. acquired a new stake in Curtiss-Wright in the fourth quarter worth $31,497,000. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial lowered their price target on Curtiss-Wright from $356.00 to $338.00 and set a “hold” rating on the stock in a report on Friday, July 11th. Robert W. Baird raised their price target on Curtiss-Wright from $432.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, May 22nd. Citigroup raised their price target on Curtiss-Wright from $525.00 to $568.00 and gave the company a “buy” rating in a report on Monday, July 14th. Wall Street Zen raised Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 12th. Finally, Morgan Stanley raised their target price on Curtiss-Wright from $405.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $467.14.

Curtiss-Wright Trading Up 0.8%

NYSE:CW opened at $496.13 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 0.37. Curtiss-Wright Corporation has a 1-year low of $258.85 and a 1-year high of $499.30. The firm has a market capitalization of $18.68 billion, a price-to-earnings ratio of 44.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.15. The stock has a fifty day simple moving average of $470.13 and a 200 day simple moving average of $384.78.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.43. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. The business had revenue of $805.65 million during the quarter, compared to analyst estimates of $767.32 million. During the same quarter last year, the company posted $1.99 EPS. Curtiss-Wright’s revenue for the quarter was up 13.0% on a year-over-year basis. Sell-side analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 16th were given a $0.24 dividend. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.19%. Curtiss-Wright’s dividend payout ratio (DPR) is 8.54%.

Insiders Place Their Bets

In related news, VP John C. Watts sold 450 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $449.36, for a total value of $202,212.00. Following the completion of the transaction, the vice president owned 4,959 shares in the company, valued at $2,228,376.24. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce D. Hoechner sold 1,900 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the sale, the director directly owned 4,523 shares of the company’s stock, valued at approximately $2,026,304. This represents a 29.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Curtiss-Wright Company 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.