CenturyLink Investment Management Co acquired a new stake in shares of Curtiss-Wright Corp. (NYSE:CW) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,068 shares of the aerospace company’s stock, valued at approximately $1,254,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Utah Retirement Systems grew its position in Curtiss-Wright by 1.2% in the fourth quarter. Utah Retirement Systems now owns 8,200 shares of the aerospace company’s stock worth $837,000 after buying an additional 100 shares during the last quarter. Cardinal Capital Management boosted its stake in Curtiss-Wright by 1.8% in the 4th quarter. Cardinal Capital Management now owns 8,787 shares of the aerospace company’s stock worth $897,000 after purchasing an additional 156 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Curtiss-Wright by 7.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,805 shares of the aerospace company’s stock worth $286,000 after purchasing an additional 183 shares during the period. Virginia Retirement Systems ET AL boosted its stake in Curtiss-Wright by 2.7% in the 4th quarter. Virginia Retirement Systems ET AL now owns 7,500 shares of the aerospace company’s stock worth $766,000 after purchasing an additional 200 shares during the period. Finally, Arizona State Retirement System boosted its stake in Curtiss-Wright by 0.6% in the 4th quarter. Arizona State Retirement System now owns 31,430 shares of the aerospace company’s stock worth $3,210,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 77.14% of the company’s stock.
In related news, CEO David Charles Adams sold 9,944 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $115.01, for a total transaction of $1,143,659.44. Following the completion of the sale, the chief executive officer now directly owns 97,093 shares of the company’s stock, valued at $11,166,665.93. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director S Marce Fuller sold 1,250 shares of the company’s stock in a transaction that occurred on Wednesday, February 6th. The shares were sold at an average price of $115.00, for a total transaction of $143,750.00. Following the completion of the sale, the director now directly owns 12,472 shares of the company’s stock, valued at approximately $1,434,280. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,681 shares of company stock valued at $2,765,880. 0.90% of the stock is currently owned by insiders.
Curtiss-Wright (NYSE:CW) last announced its earnings results on Tuesday, February 26th. The aerospace company reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.15. Curtiss-Wright had a net margin of 11.43% and a return on equity of 17.91%. The company had revenue of $648.62 million for the quarter, compared to analyst estimates of $688.52 million. During the same period in the prior year, the business earned $1.52 earnings per share. Curtiss-Wright’s quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts expect that Curtiss-Wright Corp. will post 6.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Wednesday, March 27th. Curtiss-Wright’s dividend payout ratio (DPR) is 9.42%.
CW has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Curtiss-Wright from a “sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Bank of America lowered shares of Curtiss-Wright from a “buy” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research note on Friday, March 1st. They noted that the move was a valuation call. ValuEngine lowered shares of Curtiss-Wright from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, Robert W. Baird lifted their target price on shares of Curtiss-Wright from $123.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $132.14.
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Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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