Nordea Investment Management AB Has $12.92 Million Stock Position in Curtiss-Wright Corporation $CW

Nordea Investment Management AB reduced its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 15.4% in the 4th quarter, HoldingsChannel reports. The firm owned 23,210 shares of the aerospace company’s stock after selling 4,218 shares during the period. Nordea Investment Management AB’s holdings in Curtiss-Wright were worth $12,923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Curtiss-Wright during the second quarter worth about $241,537,000. Massachusetts Financial Services Co. MA raised its stake in shares of Curtiss-Wright by 31.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 728,745 shares of the aerospace company’s stock valued at $395,665,000 after acquiring an additional 174,592 shares during the last quarter. Munro Partners bought a new position in shares of Curtiss-Wright in the second quarter valued at approximately $78,000,000. AQR Capital Management LLC boosted its holdings in shares of Curtiss-Wright by 45.8% in the 2nd quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock worth $189,468,000 after acquiring an additional 122,048 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Curtiss-Wright during the 3rd quarter worth approximately $62,320,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Curtiss-Wright news, VP Gary A. Ogilby sold 625 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $624.32, for a total transaction of $390,200.00. Following the transaction, the vice president directly owned 2,571 shares in the company, valued at approximately $1,605,126.72. This represents a 19.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Kevin Rayment sold 2,634 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,649,753.22. Following the completion of the transaction, the chief operating officer directly owned 29,896 shares in the company, valued at $18,724,761.68. This trade represents a 8.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,112 shares of company stock valued at $14,768,527 over the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CW. Morgan Stanley reaffirmed an “overweight” rating and set a $760.00 price target on shares of Curtiss-Wright in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $748.00 price objective on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Citigroup increased their target price on Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Finally, Wall Street Zen raised Curtiss-Wright from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $663.17.

Curtiss-Wright Stock Performance

CW stock opened at $700.39 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 1.00. The company has a 50 day moving average price of $675.75 and a 200 day moving average price of $596.23. Curtiss-Wright Corporation has a fifty-two week low of $266.88 and a fifty-two week high of $730.12. The stock has a market capitalization of $25.82 billion, a PE ratio of 54.42, a price-to-earnings-growth ratio of 3.35 and a beta of 0.91.

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

Curtiss-Wright Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Stockholders 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 dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, March 26th. Curtiss-Wright’s dividend payout ratio is 7.46%.

About Curtiss-Wright

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.