Waddell & Reed Financial Inc. increased its position in shares of Curtiss-Wright Corp. (NYSE:CW) by 28.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,893 shares of the aerospace company’s stock after purchasing an additional 20,993 shares during the period. Waddell & Reed Financial Inc. owned 0.22% of Curtiss-Wright worth $11,294,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Systematic Financial Management LP increased its position in Curtiss-Wright by 26.3% during the second quarter. Systematic Financial Management LP now owns 85,151 shares of the aerospace company’s stock worth $10,135,000 after purchasing an additional 17,749 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Curtiss-Wright during the second quarter worth about $546,000. Paloma Partners Management Co increased its position in Curtiss-Wright by 6,300.8% during the second quarter. Paloma Partners Management Co now owns 136,337 shares of the aerospace company’s stock worth $16,226,000 after purchasing an additional 134,207 shares during the last quarter. BlueMountain Capital Management LLC increased its position in Curtiss-Wright by 1,701.0% during the second quarter. BlueMountain Capital Management LLC now owns 65,448 shares of the aerospace company’s stock worth $7,790,000 after purchasing an additional 61,814 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Curtiss-Wright by 30.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 37,500 shares of the aerospace company’s stock valued at $4,463,000 after acquiring an additional 8,828 shares during the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.
Shares of CW traded up $0.02 during trading on Friday, reaching $118.09. 325,500 shares of the company traded hands, compared to its average volume of 279,446. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.16 and a quick ratio of 1.42. The stock has a market cap of $6.04 billion, a PE ratio of 23.48, a P/E/G ratio of 1.76 and a beta of 1.20. Curtiss-Wright Corp. has a twelve month low of $111.73 and a twelve month high of $143.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Thursday, October 4th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, October 3rd. Curtiss-Wright’s dividend payout ratio (DPR) is currently 11.93%.
CW has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Curtiss-Wright from a “hold” rating to a “buy” rating and set a $152.00 price target for the company in a research report on Tuesday, September 25th. ValuEngine upgraded shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. UBS Group initiated coverage on shares of Curtiss-Wright in a research report on Wednesday, August 15th. They set a “neutral” rating and a $140.00 price target for the company. Finally, William Blair upgraded shares of Curtiss-Wright from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $145.00 to $129.00 in a research report on Monday, July 2nd. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Curtiss-Wright has an average rating of “Buy” and an average target price of $137.78.
In related news, Director S Marce Fuller sold 1,250 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $133.07, for a total value of $166,337.50. Following the completion of the transaction, the director now owns 11,734 shares in the company, valued at $1,561,443.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.87% of the company’s stock.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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