Strs Ohio Makes New Investment in Curtiss-Wright Corporation $CW

Strs Ohio bought a new position in shares of Curtiss-Wright Corporation (NYSE:CW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,509 shares of the aerospace company’s stock, valued at approximately $3,651,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CW. Focus Partners Wealth acquired a new position in Curtiss-Wright during the fourth quarter worth about $241,000. Nomura Holdings Inc. acquired a new position in shares of Curtiss-Wright in the fourth quarter valued at approximately $1,787,000. ProShare Advisors LLC raised its position in shares of Curtiss-Wright by 6.3% in the fourth quarter. ProShare Advisors LLC now owns 1,775 shares of the aerospace company’s stock valued at $630,000 after buying an additional 105 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Curtiss-Wright by 3.3% in the fourth quarter. Rafferty Asset Management LLC now owns 10,582 shares of the aerospace company’s stock valued at $3,755,000 after buying an additional 335 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in shares of Curtiss-Wright by 95.2% in the fourth quarter. Toronto Dominion Bank now owns 886 shares of the aerospace company’s stock valued at $314,000 after buying an additional 432 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

CW opened at $509.88 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $517.09. The company has a 50 day moving average of $486.75 and a two-hundred day moving average of $417.27. The company has a market cap of $19.21 billion, a P/E ratio of 43.03, a P/E/G ratio of 3.12 and a beta of 1.15.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The company had revenue of $876.58 million during the quarter, compared to the consensus estimate of $855.10 million. During the same period in the previous year, the firm earned $2.67 earnings per share. Curtiss-Wright’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, September 26th. Curtiss-Wright’s payout ratio is currently 8.10%.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the sale, the vice president directly owned 3,863 shares in the company, valued at $1,856,171.50. The trade was a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CW. Truist Financial cut their price objective on shares of Curtiss-Wright from $356.00 to $338.00 and set a “hold” rating for the company in a research report on Friday, July 11th. Morgan Stanley boosted their price objective on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Stifel Nicolaus boosted their price objective on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a “hold” rating in a research report on Friday, August 8th. Robert W. Baird boosted their price objective on shares of Curtiss-Wright from $432.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $468.14.

About Curtiss-Wright

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.