AustralianSuper Pty Ltd Makes New $12.92 Million Investment in Curtiss-Wright Corporation $CW

AustralianSuper Pty Ltd acquired a new position in Curtiss-Wright Corporation (NYSE:CW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,800 shares of the aerospace company’s stock, valued at approximately $12,922,000. AustralianSuper Pty Ltd owned about 0.06% of Curtiss-Wright at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new position in Curtiss-Wright in the 2nd quarter worth $270,731,000. Norges Bank bought a new position in shares of Curtiss-Wright in the second quarter worth about $241,537,000. Munro Partners purchased a new position in shares of Curtiss-Wright during the 2nd quarter valued at about $78,000,000. AQR Capital Management LLC lifted its holdings in Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock valued at $189,468,000 after purchasing an additional 122,048 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Curtiss-Wright by 21.0% in the second quarter. American Century Companies Inc. now owns 340,007 shares of the aerospace company’s stock worth $166,110,000 after purchasing an additional 59,003 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Down 3.3%

Shares of CW opened at $702.32 on Wednesday. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $730.12. The firm has a market capitalization of $25.89 billion, a P/E ratio of 54.57, a P/E/G ratio of 3.54 and a beta of 0.91. The firm has a fifty day moving average price of $643.56 and a 200-day moving average price of $574.56. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.13. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The firm had revenue of $946.98 million during the quarter, compared to the consensus estimate of $890.14 million. During the same period in the previous year, the company posted $3.27 earnings per share. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. Equities research 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 announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, March 26th. Curtiss-Wright’s payout ratio is 7.46%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CW. Truist Financial set a $603.00 target price on Curtiss-Wright in a research report on Friday, January 9th. Morgan Stanley reissued an “overweight” rating and issued a $760.00 target price on shares of Curtiss-Wright in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $748.00 price target on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Stifel Nicolaus increased their price objective on shares of Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $663.17.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, COO Kevin Rayment sold 2,634 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total value of $1,649,753.22. Following the completion of the sale, the chief operating officer owned 29,896 shares of the company’s stock, valued at approximately $18,724,761.68. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lynn M. Bamford sold 9,327 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $626.45, for a total value of $5,842,899.15. Following the sale, the chief executive officer owned 46,192 shares in the company, valued at $28,936,978.40. The trade was a 16.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,269 shares of company stock worth $10,797,098 over the last ninety days. Corporate insiders own 0.55% of the company’s stock.

Curtiss-Wright Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.