Erste Asset Management GmbH Takes Position in Curtiss-Wright Corporation $CW

Erste Asset Management GmbH bought a new position in Curtiss-Wright Corporation (NYSE:CW) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,057 shares of the aerospace company’s stock, valued at approximately $561,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new stake in Curtiss-Wright during the 3rd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Curtiss-Wright during the second quarter worth about $27,000. Penserra Capital Management LLC purchased a new stake in Curtiss-Wright in the second quarter valued at approximately $29,000. First Horizon Corp purchased a new stake in Curtiss-Wright in the third quarter valued at approximately $34,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Curtiss-Wright by 53.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock worth $49,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Stock Performance

CW opened at $700.14 on Monday. The firm has a fifty day moving average price of $637.74 and a 200 day moving average price of $571.42. Curtiss-Wright Corporation has a 1 year low of $266.88 and a 1 year high of $719.05. The stock has a market cap of $25.81 billion, a P/E ratio of 54.40, a P/E/G ratio of 3.41 and a beta of 0.93. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 1.00.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 EPS for the quarter, beating the consensus estimate of $3.66 by $0.13. The company had revenue of $946.98 million for the quarter, compared to analyst estimates of $890.14 million. Curtiss-Wright had a net margin of 13.84% and a return on equity of 19.28%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business earned $3.27 earnings per share. Equities research analysts anticipate that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 26th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, March 26th. Curtiss-Wright’s payout ratio is currently 7.46%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CW. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Citigroup raised their target price on shares of Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Morgan Stanley restated an “overweight” rating and set a $760.00 target price on shares of Curtiss-Wright in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $748.00 price target on shares of Curtiss-Wright in a report on Tuesday, February 17th. Finally, Truist Financial set a $603.00 price objective on Curtiss-Wright in a research note on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Curtiss-Wright has a consensus rating of “Moderate Buy” and a consensus price target of $663.17.

Insider Buying and Selling

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 9,327 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $626.45, for a total transaction of $5,842,899.15. Following the transaction, the chief executive officer owned 46,192 shares in the company, valued at approximately $28,936,978.40. This represents a 16.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John C. Watts sold 652 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $625.57, for a total value of $407,871.64. Following the completion of the sale, the executive vice president directly owned 3,890 shares in the company, valued at approximately $2,433,467.30. The trade was a 14.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,269 shares of company stock worth $10,797,098 in the last ninety days. 0.55% of the stock is owned by corporate insiders.

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.