Municipal Employees Retirement System of Michigan Lowers Position in Curtiss-Wright Corporation (CW)

Municipal Employees Retirement System of Michigan trimmed its position in Curtiss-Wright Corporation (NYSE:CW) by 21.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,350 shares of the aerospace company’s stock after selling 3,600 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Curtiss-Wright Corporation were worth $1,396,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Tudor Investment Corp ET AL acquired a new position in shares of Curtiss-Wright Corporation in the 1st quarter valued at approximately $233,000. Capstone Asset Management Co. lifted its stake in Curtiss-Wright Corporation by 7.6% in the 2nd quarter. Capstone Asset Management Co. now owns 4,552 shares of the aerospace company’s stock valued at $418,000 after acquiring an additional 320 shares in the last quarter. Bank of Montreal Can lifted its stake in Curtiss-Wright Corporation by 0.6% in the 2nd quarter. Bank of Montreal Can now owns 70,206 shares of the aerospace company’s stock valued at $6,443,000 after acquiring an additional 386 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Curtiss-Wright Corporation by 4.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,623 shares of the aerospace company’s stock valued at $1,526,000 after acquiring an additional 721 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its stake in Curtiss-Wright Corporation by 13.2% in the 2nd quarter. LS Investment Advisors LLC now owns 3,871 shares of the aerospace company’s stock valued at $355,000 after acquiring an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 78.06% of the company’s stock.

Shares of Curtiss-Wright Corporation (NYSE CW) opened at $118.29 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.08 and a debt-to-equity ratio of 0.55. Curtiss-Wright Corporation has a one year low of $82.77 and a one year high of $120.54. The company has a market capitalization of $5,220.02, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 2.02 and a beta of 1.25.

Curtiss-Wright Corporation (NYSE:CW) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.21. Curtiss-Wright Corporation had a return on equity of 15.60% and a net margin of 9.70%. The firm had revenue of $567.90 million during the quarter, compared to analysts’ expectations of $539.28 million. During the same quarter last year, the firm posted $1.02 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. equities research analysts expect that Curtiss-Wright Corporation will post 4.75 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 29th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.51%. Curtiss-Wright Corporation’s dividend payout ratio (DPR) is currently 12.45%.

A number of brokerages have commented on CW. Seaport Global Securities reaffirmed a “buy” rating on shares of Curtiss-Wright Corporation in a report on Friday, October 27th. Bank of America Corporation raised Curtiss-Wright Corporation from a “neutral” rating to a “buy” rating and set a $136.00 target price on the stock in a report on Monday, October 30th. Wells Fargo & Company upped their price objective on Curtiss-Wright Corporation from $100.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Stifel Nicolaus upped their price objective on Curtiss-Wright Corporation from $117.00 to $124.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $128.00 price objective on shares of Curtiss-Wright Corporation in a research report on Friday, October 20th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Curtiss-Wright Corporation has an average rating of “Buy” and a consensus target price of $126.67.

In related news, CEO David Charles Adams sold 17,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $119.04, for a total transaction of $2,023,680.00. Following the completion of the transaction, the chief executive officer now directly owns 70,570 shares in the company, valued at $8,400,652.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Glenn E. Tynan sold 2,082 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $120.00, for a total value of $249,840.00. The disclosure for this sale can be found here. Insiders have sold 52,570 shares of company stock worth $6,091,796 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

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About Curtiss-Wright Corporation

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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Institutional Ownership by Quarter for Curtiss-Wright Corporation (NYSE:CW)

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