Massachusetts Financial Services Co. MA Makes New Investment in Curtiss-Wright Corporation $CW

Massachusetts Financial Services Co. MA purchased a new stake in Curtiss-Wright Corporation (NYSE:CW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 554,153 shares of the aerospace company’s stock, valued at approximately $270,731,000.

Other hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH acquired a new stake in shares of Curtiss-Wright during the first quarter valued at $1,926,000. Spire Wealth Management lifted its stake in shares of Curtiss-Wright by 21.5% during the second quarter. Spire Wealth Management now owns 549 shares of the aerospace company’s stock valued at $268,000 after buying an additional 97 shares during the period. Massachusetts Wealth Management acquired a new stake in Curtiss-Wright during the second quarter worth approximately $266,000. PNC Financial Services Group Inc. grew its stake in Curtiss-Wright by 47.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,641 shares of the aerospace company’s stock worth $2,742,000 after acquiring an additional 2,766 shares during the period. Finally, Ifrah Financial Services Inc. acquired a new position in Curtiss-Wright in the 2nd quarter valued at $230,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CW has been the subject of a number of recent analyst reports. Truist Financial lifted their price objective on Curtiss-Wright from $525.00 to $537.00 and gave the company a “hold” rating in a research report on Friday, November 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $625.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Morgan Stanley increased their price objective on shares of Curtiss-Wright from $565.00 to $645.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. Wall Street Zen downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Stifel Nicolaus upped their price target on shares of Curtiss-Wright from $457.00 to $502.00 and gave the stock a “hold” rating in a research report on Monday, October 20th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $562.83.

Curtiss-Wright Stock Up 0.8%

Shares of NYSE:CW opened at $550.67 on Monday. Curtiss-Wright Corporation has a 1 year low of $266.88 and a 1 year high of $612.28. The stock has a 50-day simple moving average of $546.80 and a 200-day simple moving average of $491.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. The stock has a market capitalization of $20.31 billion, a P/E ratio of 46.47, a PEG ratio of 3.41 and a beta of 1.12.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.12. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The firm had revenue of $869.00 million for the quarter, compared to analysts’ expectations of $869.03 million. During the same period in the previous year, the company posted $2.89 earnings per share. Curtiss-Wright’s revenue was up 8.8% compared to the same quarter last year. Equities analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.96 annualized dividend and a yield of 0.2%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.82%.

Insider Activity at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was 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 of the company’s stock, valued at $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Curtiss-Wright Profile

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.