SEB Asset Management AB Takes Position in Curtiss-Wright Corporation $CW

SEB Asset Management AB acquired a new position in shares of Curtiss-Wright Corporation (NYSE:CW) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,564 shares of the aerospace company’s stock, valued at approximately $1,746,000.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Curtiss-Wright by 1.2% during the 3rd quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after purchasing an additional 16,962 shares in the last quarter. Invesco Ltd. increased its stake in Curtiss-Wright by 7.9% during the 4th quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company’s stock worth $671,231,000 after purchasing an additional 88,688 shares in the last quarter. Geode Capital Management LLC raised its holdings in Curtiss-Wright by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock worth $464,130,000 after buying an additional 47,287 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Curtiss-Wright by 5.4% in 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 buying an additional 39,515 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Curtiss-Wright by 9.3% in the fourth quarter. AQR Capital Management LLC now owns 533,264 shares of the aerospace company’s stock valued at $293,972,000 after buying an additional 45,589 shares during the period. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Trading Up 2.3%

Shares of NYSE:CW opened at $749.55 on Friday. Curtiss-Wright Corporation has a 12-month low of $464.91 and a 12-month high of $808.16. The stock has a market cap of $27.69 billion, a PE ratio of 54.91, a P/E/G ratio of 3.36 and a beta of 0.86. The business has a 50 day moving average of $745.17 and a 200-day moving average of $706.10. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.16. The company had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.82 earnings per share. As a group, equities research analysts forecast that Curtiss-Wright Corporation will post 15.22 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 15th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 7.62%.

Insider Transactions at Curtiss-Wright

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 completion of the sale, the chief executive officer owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the transaction, the vice president owned 2,172 shares in the company, valued at $1,568,075.40. This trade represents a 15.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup upped their price objective on Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings downgraded Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Stifel Nicolaus raised their price target on shares of Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a research note on Monday. Finally, Morgan Stanley restated an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and a consensus target price of $773.67.

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.