Magnetar Financial LLC purchased a new stake in Curtiss-Wright Corporation (NYSE:CW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,946 shares of the aerospace company’s stock, valued at approximately $203,000.
Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Curtiss-Wright by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 143 shares during the last quarter. Burney Co. acquired a new stake in shares of Curtiss-Wright in the second quarter worth $203,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Curtiss-Wright in the third quarter worth $212,000. Linscomb & Williams Inc. acquired a new stake in shares of Curtiss-Wright in the third quarter worth $212,000. Finally, WASHINGTON TRUST Co acquired a new stake in shares of Curtiss-Wright in the third quarter worth $217,000. 77.46% of the stock is currently owned by institutional investors.
In other news, VP Paul J. Ferdenzi sold 2,340 shares of the business’s stock in a transaction on 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 filing with the SEC, which is available at this link. Also, Director S Marce Fuller sold 1,300 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $117.95, for a total transaction of $153,335.00. Following the completion of the sale, the director now owns 13,660 shares in the company, valued at approximately $1,611,197. The disclosure for this sale can be found here. Insiders have sold 60,488 shares of company stock worth $7,041,956 in the last quarter. Corporate insiders own 1.10% of the company’s stock.
Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.21. Curtiss-Wright had a net margin of 9.70% and a return on equity of 15.60%. The firm had revenue of $567.90 million for the quarter, compared to the consensus estimate of $539.28 million. During the same quarter in the previous year, the company earned $1.02 earnings per share. The business’s revenue was up 12.0% compared to the same quarter last year. equities analysts forecast that Curtiss-Wright Corporation will post 4.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Wednesday, November 29th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, November 28th. This represents a $0.60 dividend on an annualized basis and a yield of 0.49%. Curtiss-Wright’s dividend payout ratio is currently 12.45%.
Several brokerages have recently issued reports on CW. Robert W. Baird began coverage on shares of Curtiss-Wright in a research note on Tuesday, December 5th. They issued an “outperform” rating and a $149.00 price objective on the stock. Seaport Global Securities reiterated a “buy” rating on shares of Curtiss-Wright in a research note on Friday, October 27th. 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 note on Monday, October 30th. Wells Fargo & Company lifted their price target on shares of Curtiss-Wright from $100.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Finally, Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $117.00 to $124.00 and gave the stock a “hold” rating in a research note on Friday, October 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $129.86.
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Curtiss-Wright 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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