Louisiana State Employees Retirement System Acquires Shares of 10,700 Curtiss-Wright Corporation $CW

Louisiana State Employees Retirement System bought a new position in Curtiss-Wright Corporation (NYSE:CW) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,700 shares of the aerospace company’s stock, valued at approximately $7,288,000.

A number of other hedge funds also recently added to or reduced their stakes in CW. Cary Street Partners Investment Advisory LLC bought a new stake in Curtiss-Wright in the 4th quarter worth about $31,000. Larson Financial Group LLC lifted its holdings in shares of Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock valued at $33,000 after buying an additional 21 shares during the period. Transamerica Financial Advisors LLC lifted its holdings in shares of Curtiss-Wright by 25.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $40,000 after buying an additional 15 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Curtiss-Wright in the 4th quarter worth $42,000. Finally, Elyxium Wealth LLC bought a new stake in shares of Curtiss-Wright in the fourth quarter worth $43,000. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Stifel Nicolaus set a $724.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Citigroup upped their price target on Curtiss-Wright from $728.00 to $775.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $746.67.

Curtiss-Wright Stock Performance

Shares of NYSE CW opened at $766.61 on Friday. The company has a market cap of $28.32 billion, a P/E ratio of 56.16, a P/E/G ratio of 3.54 and a beta of 0.85. Curtiss-Wright Corporation has a 52-week low of $463.00 and a 52-week high of $800.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52. The firm’s fifty day moving average is $736.92 and its two-hundred day moving average is $679.17.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating the consensus estimate of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business had revenue of $913.69 million during the quarter, compared to the consensus estimate of $863.83 million. During the same quarter in the prior year, the firm earned $2.82 EPS. The business’s revenue was up 13.4% on a year-over-year basis. As a group, analysts anticipate that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright’s dividend payout ratio (DPR) is presently 7.62%.

Insiders Place Their Bets

In other news, CEO Lynn M. Bamford sold 2,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the sale, the chief executive officer directly owned 48,134 shares in the company, valued at $34,739,270.48. The trade was a 4.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the sale, the executive vice president owned 3,962 shares in the company, valued at $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,119 shares of company stock valued at $2,257,998 in the last three months. Corporate insiders own 0.51% of the company’s stock.

Curtiss-Wright Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.