Boston Partners Reduces Position in Curtiss-Wright Corporation $CW

Boston Partners lessened its stake in Curtiss-Wright Corporation (NYSE:CW) by 49.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,058 shares of the aerospace company’s stock after selling 55,016 shares during the quarter. Boston Partners owned about 0.15% of Curtiss-Wright worth $27,905,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new stake in Curtiss-Wright in the 2nd quarter valued at about $270,731,000. Nuveen LLC purchased a new position in Curtiss-Wright during the first quarter worth about $70,357,000. TD Asset Management Inc increased its position in shares of Curtiss-Wright by 14.4% during the second quarter. TD Asset Management Inc now owns 789,378 shares of the aerospace company’s stock valued at $385,651,000 after acquiring an additional 99,643 shares during the last quarter. Millennium Management LLC raised its stake in shares of Curtiss-Wright by 135.0% in the 1st quarter. Millennium Management LLC now owns 154,158 shares of the aerospace company’s stock valued at $48,910,000 after acquiring an additional 88,557 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of Curtiss-Wright by 2,460.9% in the 1st quarter. Bank of Nova Scotia now owns 91,500 shares of the aerospace company’s stock valued at $29,030,000 after acquiring an additional 87,927 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CW. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $625.00 target price on shares of Curtiss-Wright in a report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Wall Street Zen downgraded Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Morgan Stanley increased their target price on Curtiss-Wright from $565.00 to $645.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Finally, Stifel Nicolaus raised their target price on Curtiss-Wright from $457.00 to $502.00 and gave the company a “hold” rating in a report on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Curtiss-Wright currently has an average rating of “Moderate Buy” and an average price target of $562.83.

Curtiss-Wright Price Performance

CW stock opened at $563.74 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $20.79 billion, a P/E ratio of 47.57, a PEG ratio of 3.41 and a beta of 1.12. The business has a 50 day simple moving average of $554.90 and a 200-day simple moving average of $501.28. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $612.28.

Curtiss-Wright (NYSE:CW) last released its earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.12. The business had revenue of $869.00 million for the quarter, compared to analyst estimates of $869.03 million. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 earnings per share. As a group, equities analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a $0.24 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright’s dividend payout ratio (DPR) is currently 7.82%.

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.