State of New Jersey Common Pension Fund D Boosts Holdings in Curtiss-Wright Corporation $CW

State of New Jersey Common Pension Fund D raised its holdings in Curtiss-Wright Corporation (NYSE:CW) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,954 shares of the aerospace company’s stock after purchasing an additional 30 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Curtiss-Wright were worth $5,840,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its holdings in Curtiss-Wright by 14.4% in the second quarter. TD Asset Management Inc now owns 789,378 shares of the aerospace company’s stock valued at $385,651,000 after purchasing an additional 99,643 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Curtiss-Wright by 23.3% in the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company’s stock valued at $175,417,000 after purchasing an additional 104,393 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Curtiss-Wright by 1.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 349,774 shares of the aerospace company’s stock valued at $166,713,000 after purchasing an additional 6,261 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Curtiss-Wright by 25.6% in the first quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company’s stock valued at $81,761,000 after purchasing an additional 54,289 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Curtiss-Wright by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 251,874 shares of the aerospace company’s stock valued at $79,912,000 after purchasing an additional 14,684 shares during the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CW has been the topic of several recent analyst reports. Citigroup increased their target price on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a research note on Friday. Morgan Stanley increased their target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $625.00 target price on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Finally, Truist Financial increased their target price on shares of Curtiss-Wright from $463.00 to $525.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $526.00.

Curtiss-Wright Trading Up 2.2%

Shares of Curtiss-Wright stock opened at $571.01 on Monday. The firm has a market capitalization of $21.52 billion, a PE ratio of 48.19, a P/E/G ratio of 3.24 and a beta of 1.14. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $575.07. The firm’s 50-day moving average price is $517.05 and its 200 day moving average price is $463.65. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.10. The firm had revenue of $876.58 million for the quarter, compared to analyst estimates of $855.10 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. Curtiss-Wright’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $2.67 EPS. On average, sell-side analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were issued a $0.24 dividend. The ex-dividend date was Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. Curtiss-Wright’s dividend payout ratio is presently 8.10%.

Insider Buying and Selling

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $480.50, for a total value of $533,355.00. Following the completion of the sale, the vice president owned 3,863 shares in the company, valued at approximately $1,856,171.50. This represents a 22.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.55% of the company’s stock.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.