Norges Bank Purchases New Position in Curtiss-Wright Corporation $CW

Norges Bank purchased a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 527,207 shares of the aerospace company’s stock, valued at approximately $290,633,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in shares of Curtiss-Wright by 1.2% during the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after acquiring an additional 16,962 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Curtiss-Wright by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock valued at $464,130,000 after acquiring an additional 47,287 shares in the last quarter. TD Asset Management Inc increased its position in shares of Curtiss-Wright by 0.3% during the third quarter. TD Asset Management Inc now owns 791,531 shares of the aerospace company’s stock valued at $429,754,000 after acquiring an additional 2,153 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Curtiss-Wright by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company’s stock valued at $423,519,000 after acquiring an additional 39,515 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Curtiss-Wright by 5.3% during the third quarter. Van ECK Associates Corp now owns 740,033 shares of the aerospace company’s stock valued at $401,794,000 after acquiring an additional 37,069 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Trading Up 0.1%

Shares of CW stock opened at $720.65 on Wednesday. Curtiss-Wright Corporation has a 1 year low of $443.00 and a 1 year high of $760.72. The firm has a fifty day moving average price of $716.54 and a 200-day moving average price of $653.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The company has a market cap of $26.62 billion, a price-to-earnings ratio of 52.80, a PEG ratio of 3.34 and a beta of 0.85.

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

Curtiss-Wright Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, June 15th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright’s payout ratio is presently 7.03%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CW shares. Citigroup raised their price target on shares of Curtiss-Wright from $728.00 to $775.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $748.00 target price on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $760.00 target price on shares of Curtiss-Wright in a research report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus price target of $746.67.

Insiders Place Their Bets

In other news, COO Kevin Rayment sold 907 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $677.38, for a total transaction of $614,383.66. Following the sale, the chief operating officer directly owned 31,493 shares in the company, valued at approximately $21,332,728.34. This represents a 2.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Over the last 90 days, insiders have sold 6,181 shares of company stock worth $4,204,919. 0.51% of the stock is owned by corporate insiders.

Curtiss-Wright Company 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.