Algert Global LLC purchased a new position in shares of Curtiss-Wright Corporation (NYSE:CW) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,759 shares of the aerospace company’s stock, valued at approximately $2,170,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dean Investment Associates LLC purchased a new position in Curtiss-Wright in the third quarter valued at about $687,000. California Public Employees Retirement System grew its position in shares of Curtiss-Wright by 4.1% in the third quarter. California Public Employees Retirement System now owns 76,529 shares of the aerospace company’s stock valued at $8,000,000 after purchasing an additional 3,029 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Curtiss-Wright in the third quarter valued at approximately $591,000. Magnetar Financial LLC acquired a new stake in shares of Curtiss-Wright in the third quarter valued at approximately $203,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Curtiss-Wright in the third quarter valued at approximately $5,579,000. 76.17% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO David Charles Adams sold 17,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $119.04, for a total value of $2,023,680.00. Following the transaction, the chief executive officer now owns 70,570 shares of the company’s stock, valued at approximately $8,400,652.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Paul J. Ferdenzi sold 2,340 shares of the firm’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $108.00, for a total transaction of $252,720.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,581 shares of company stock worth $6,308,571. 1.10% of the stock is owned by company insiders.
Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.21. The company had revenue of $567.90 million for the quarter, compared to analyst estimates of $539.28 million. Curtiss-Wright had a net margin of 9.70% and a return on equity of 15.60%. Curtiss-Wright’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $1.02 EPS. equities research analysts anticipate that Curtiss-Wright Corporation will post 4.75 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Wednesday, November 29th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, November 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.49%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 12.45%.
Several analysts have recently commented on CW shares. Bank of America upgraded shares of Curtiss-Wright from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a research report on Monday, October 30th. Wells Fargo & Co increased their price target on shares of Curtiss-Wright from $100.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday, October 27th. Stifel Nicolaus restated a “hold” rating and set a $117.00 target price on shares of Curtiss-Wright in a research report on Tuesday, October 17th. Zacks Investment Research lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, SunTrust Banks restated a “buy” rating and set a $128.00 target price on shares of Curtiss-Wright in a research report on Friday, October 20th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $129.86.
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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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