Acadian Asset Management LLC Boosts Stock Position in Curtiss-Wright Corporation $CW

Acadian Asset Management LLC grew its stake in Curtiss-Wright Corporation (NYSE:CW) by 113.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,771 shares of the aerospace company’s stock after buying an additional 5,725 shares during the quarter. Acadian Asset Management LLC’s holdings in Curtiss-Wright were worth $5,258,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Penserra Capital Management LLC acquired a new stake in Curtiss-Wright in the second quarter valued at about $29,000. 1 North Wealth Services LLC acquired a new stake in Curtiss-Wright in the 1st quarter valued at about $32,000. West Oak Capital LLC purchased a new position in shares of Curtiss-Wright during the 2nd quarter worth approximately $49,000. True Wealth Design LLC increased its position in Curtiss-Wright by 1,540.0% during the second quarter. True Wealth Design LLC now owns 164 shares of the aerospace company’s stock worth $80,000 after buying an additional 154 shares in the last quarter. Finally, Huntington National Bank raised its stake in Curtiss-Wright by 20.3% in the 2nd quarter. Huntington National Bank now owns 190 shares of the aerospace company’s stock valued at $93,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Insider Activity

In other news, VP John C. Watts sold 1,110 shares of the company’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 value of $533,355.00. Following the completion of the transaction, the vice president owned 3,863 shares in the company, valued at $1,856,171.50. This represents 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 the SEC website. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CW shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Curtiss-Wright in a report on Wednesday, October 8th. Truist Financial increased their target price on Curtiss-Wright from $525.00 to $537.00 and gave the company a “hold” rating in a research note on Friday, November 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $625.00 price objective on shares of Curtiss-Wright in a report on Wednesday, October 8th. Morgan Stanley increased their target price on Curtiss-Wright from $565.00 to $645.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wall Street Zen downgraded Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $562.83.

Curtiss-Wright Stock Performance

CW stock opened at $545.80 on Friday. The company has a market capitalization of $20.13 billion, a price-to-earnings ratio of 46.06, a P/E/G ratio of 3.41 and a beta of 1.12. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $612.28. The firm has a 50 day moving average of $545.42 and a two-hundred day moving average of $488.09. 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 (NYSE:CW) last posted its quarterly earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.12. The company had revenue of $869.00 million for the quarter, compared to analyst estimates of $869.03 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $2.89 EPS. As a group, equities analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. Curtiss-Wright’s payout ratio is currently 7.82%.

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.