Westwood Holdings Group Inc. raised its stake in Curtiss-Wright Corporation (NYSE:CW) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 677,570 shares of the aerospace company’s stock after buying an additional 30,777 shares during the quarter. Westwood Holdings Group Inc. owned 1.54% of Curtiss-Wright Corporation worth $62,271,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. increased its stake in Curtiss-Wright Corporation by 0.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 17,008 shares of the aerospace company’s stock valued at $1,561,000 after buying an additional 141 shares during the period. The Manufacturers Life Insurance Company increased its stake in Curtiss-Wright Corporation by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,162 shares of the aerospace company’s stock valued at $8,917,000 after buying an additional 408 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in Curtiss-Wright Corporation by 46.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 28,220 shares of the aerospace company’s stock valued at $2,560,000 after buying an additional 8,902 shares during the period. State Street Corp increased its stake in Curtiss-Wright Corporation by 5.8% in the 2nd quarter. State Street Corp now owns 1,776,207 shares of the aerospace company’s stock valued at $163,017,000 after buying an additional 97,137 shares during the period. Finally, Shelton Capital Management acquired a new position in Curtiss-Wright Corporation in the 2nd quarter valued at approximately $289,000. Hedge funds and other institutional investors own 76.18% of the company’s stock.
CW has been the topic of several research reports. BidaskClub upgraded shares of Curtiss-Wright Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research lowered shares of Curtiss-Wright Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Stifel Nicolaus initiated coverage on shares of Curtiss-Wright Corporation in a research note on Monday, September 18th. They issued a “hold” rating and a $100.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $111.60.
Curtiss-Wright Corporation (NYSE:CW) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.16. The company had revenue of $567.70 million during the quarter, compared to analysts’ expectations of $546.73 million. Curtiss-Wright Corporation had a net margin of 9.14% and a return on equity of 14.79%. Curtiss-Wright Corporation’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. Equities research analysts anticipate that Curtiss-Wright Corporation will post $4.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, October 5th. This is a boost from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. Curtiss-Wright Corporation’s payout ratio is presently 13.61%.
In other news, VP Paul J. Ferdenzi sold 2,340 shares of the business’s stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $108.00, for a total value of $252,720.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director S Marce Fuller sold 1,300 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $96.16, for a total transaction of $125,008.00. Following the completion of the sale, the director now directly owns 14,960 shares of the company’s stock, valued at approximately $1,438,553.60. The disclosure for this sale can be found here. In the last three months, insiders sold 10,547 shares of company stock valued at $1,111,113. 1.10% of the stock is currently owned by company insiders.
Curtiss-Wright Corporation 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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