Panagora Asset Management Inc. Has $48.32 Million Stake in Curtiss-Wright Corporation $CW

Panagora Asset Management Inc. decreased its position in Curtiss-Wright Corporation (NYSE:CW) by 29.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 87,651 shares of the aerospace company’s stock after selling 36,294 shares during the quarter. Panagora Asset Management Inc.’s holdings in Curtiss-Wright were worth $48,319,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Curtiss-Wright by 738.8% in the 4th quarter. SG Americas Securities LLC now owns 26,003 shares of the aerospace company’s stock valued at $14,335,000 after buying an additional 22,903 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Curtiss-Wright in the 3rd quarter valued at approximately $37,812,000. Grove Bank & Trust bought a new stake in shares of Curtiss-Wright in the 4th quarter valued at approximately $1,104,000. Fisher Asset Management LLC grew its stake in shares of Curtiss-Wright by 7.2% in the 3rd quarter. Fisher Asset Management LLC now owns 120,535 shares of the aerospace company’s stock valued at $65,443,000 after buying an additional 8,095 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Curtiss-Wright by 3.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,218 shares of the aerospace company’s stock valued at $100,567,000 after buying an additional 7,022 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of CW opened at $762.18 on Tuesday. The company has a market capitalization of $28.15 billion, a PE ratio of 55.84, a price-to-earnings-growth ratio of 3.51 and a beta of 0.85. Curtiss-Wright Corporation has a one year low of $458.74 and a one year high of $772.98. 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’s fifty day moving average price is $728.28 and its 200 day moving average price is $666.72.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping 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 firm had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. During the same quarter last year, the firm posted $2.82 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, analysts expect that Curtiss-Wright Corporation will post 15.15 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright’s dividend payout ratio is currently 7.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Robert W. Baird set a $870.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $748.00 target price on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Citigroup lifted 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. Finally, Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Three 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 an average target price of $746.67.

Insider Activity

In other news, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the sale, the chief executive officer directly owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of the sale, the vice president directly owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This represents a 15.52% 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 three months, insiders sold 3,371 shares of company stock valued at $2,431,662. 0.51% of the stock is owned by company insiders.

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.