Fayez Sarofim & Co. lowered its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,912 shares of the aerospace company’s stock after selling 1,824 shares during the period. Fayez Sarofim & Co. owned 0.27% of Curtiss-Wright Corporation worth $11,097,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in shares of Curtiss-Wright Corporation by 251.5% during the 2nd quarter. Prudential Financial Inc. now owns 327,613 shares of the aerospace company’s stock worth $30,068,000 after purchasing an additional 234,409 shares in the last quarter. World Asset Management Inc raised its stake in shares of Curtiss-Wright Corporation by 1.8% during the 1st quarter. World Asset Management Inc now owns 2,716 shares of the aerospace company’s stock worth $248,000 after purchasing an additional 49 shares in the last quarter. Paloma Partners Management Co raised its stake in shares of Curtiss-Wright Corporation by 12.8% during the 1st quarter. Paloma Partners Management Co now owns 36,450 shares of the aerospace company’s stock worth $3,327,000 after purchasing an additional 4,123 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Curtiss-Wright Corporation during the 1st quarter worth approximately $233,000. Finally, Bank of Nova Scotia bought a new stake in shares of Curtiss-Wright Corporation during the 1st quarter worth approximately $13,689,000. Institutional investors own 76.18% of the company’s stock.
Shares of Curtiss-Wright Corporation (NYSE CW) traded up 0.61% on Friday, reaching $104.34. The company’s stock had a trading volume of 179,793 shares. The stock has a market cap of $4.61 billion, a P/E ratio of 23.67 and a beta of 1.26. The firm’s 50 day moving average is $96.82 and its 200-day moving average is $93.00. Curtiss-Wright Corporation has a 52-week low of $82.77 and a 52-week high of $107.61.
Curtiss-Wright Corporation (NYSE:CW) last announced its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.16. Curtiss-Wright Corporation had a return on equity of 14.79% and a net margin of 9.14%. The company had revenue of $567.70 million during the quarter, compared to analysts’ expectations of $546.73 million. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Curtiss-Wright Corporation will post $4.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be issued a $0.15 dividend. This is a boost from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, October 5th. Curtiss-Wright Corporation’s dividend payout ratio is presently 11.79%.
In other news, Director S Marce Fuller sold 1,300 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total value of $125,008.00. Following the completion of the transaction, the director now directly owns 14,960 shares in the company, valued at approximately $1,438,553.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on CW. Zacks Investment Research upgraded Curtiss-Wright Corporation from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Thursday. Stifel Nicolaus assumed coverage on Curtiss-Wright Corporation in a report on Monday, September 18th. They set a “hold” rating and a $100.00 target price on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Curtiss-Wright Corporation presently has a consensus rating of “Hold” and an average target price of $107.40.
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Curtiss-Wright Corporation Company Profile
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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