Algert Global LLC Takes Position in Curtiss-Wright Corp. (CW)

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Algert Global LLC purchased a new stake in Curtiss-Wright Corp. (NYSE:CW) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,168 shares of the aerospace company’s stock, valued at approximately $1,397,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAM Holding AG lifted its stake in Curtiss-Wright by 20.3% during the second quarter. GAM Holding AG now owns 2,734 shares of the aerospace company’s stock valued at $325,000 after buying an additional 461 shares in the last quarter. Stevens Capital Management LP lifted its stake in Curtiss-Wright by 27.1% during the third quarter. Stevens Capital Management LP now owns 2,316 shares of the aerospace company’s stock valued at $318,000 after buying an additional 494 shares in the last quarter. Arizona State Retirement System lifted its stake in Curtiss-Wright by 1.7% during the third quarter. Arizona State Retirement System now owns 31,229 shares of the aerospace company’s stock valued at $4,291,000 after buying an additional 534 shares in the last quarter. Raymond James & Associates lifted its stake in Curtiss-Wright by 1.2% during the second quarter. Raymond James & Associates now owns 45,785 shares of the aerospace company’s stock valued at $5,449,000 after buying an additional 548 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Curtiss-Wright by 3.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 17,190 shares of the aerospace company’s stock valued at $2,046,000 after buying an additional 589 shares in the last quarter. 75.52% of the stock is owned by institutional investors.

In related news, CFO Glenn E. Tynan sold 1,992 shares of the stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $108.73, for a total value of $216,590.16. Following the transaction, the chief financial officer now owns 52,612 shares in the company, valued at $5,720,502.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Tom P. Quinly sold 2,120 shares of the stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $108.76, for a total value of $230,571.20. Following the completion of the transaction, the vice president now owns 34,783 shares in the company, valued at approximately $3,782,999.08. The disclosure for this sale can be found here. Insiders sold 9,732 shares of company stock worth $1,058,055 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on CW. Zacks Investment Research reiterated a “hold” rating and issued a $123.00 target price on shares of Curtiss-Wright in a report on Tuesday, November 13th. ValuEngine downgraded Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Seaport Global Securities reiterated a “buy” rating on shares of Curtiss-Wright in a report on Tuesday, October 30th. Bank of America dropped their target price on Curtiss-Wright from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, November 8th. Finally, Stifel Nicolaus set a $120.00 target price on Curtiss-Wright and gave the company a “hold” rating in a report on Thursday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $132.88.

Shares of CW opened at $103.58 on Friday. The stock has a market capitalization of $4.72 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.39. Curtiss-Wright Corp. has a fifty-two week low of $100.99 and a fifty-two week high of $143.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.53 and a current ratio of 2.25.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Tuesday, October 30th. The aerospace company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. The company had revenue of $595.40 million for the quarter, compared to the consensus estimate of $628.27 million. Curtiss-Wright had a return on equity of 17.59% and a net margin of 10.98%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. On average, sell-side analysts expect that Curtiss-Wright Corp. will post 6.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. Curtiss-Wright’s dividend payout ratio is currently 11.93%.

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Curtiss-Wright Company Profile

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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Institutional Ownership by Quarter for Curtiss-Wright (NYSE:CW)

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