Principal Financial Group Inc. reduced its stake in Curtiss-Wright Corporation (NYSE:CW) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 187,545 shares of the aerospace company’s stock after selling 5,223 shares during the quarter. Principal Financial Group Inc. owned approximately 0.42% of Curtiss-Wright Corporation worth $17,213,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Meadow Creek Investment Management LLC lifted its holdings in Curtiss-Wright Corporation by 7.3% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,408 shares of the aerospace company’s stock worth $129,000 after purchasing an additional 96 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Curtiss-Wright Corporation by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the aerospace company’s stock worth $152,000 after purchasing an additional 143 shares during the last quarter. Neuburgh Advisers LLC lifted its holdings in Curtiss-Wright Corporation by 7.3% in the 1st quarter. Neuburgh Advisers LLC now owns 1,936 shares of the aerospace company’s stock worth $177,000 after purchasing an additional 132 shares during the last quarter. Koch Industries Inc. acquired a new stake in Curtiss-Wright Corporation in the 1st quarter worth approximately $214,000. Finally, Tudor Investment Corp ET AL acquired a new stake in Curtiss-Wright Corporation in the 1st quarter worth approximately $233,000. Hedge funds and other institutional investors own 76.62% of the company’s stock.
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Curtiss-Wright Corporation (CW) opened at 100.98 on Friday. The stock’s 50 day moving average price is $96.56 and its 200-day moving average price is $93.01. Curtiss-Wright Corporation has a one year low of $82.77 and a one year high of $107.61. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 22.91 and a beta of 1.26.
Curtiss-Wright Corporation (NYSE:CW) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.16. Curtiss-Wright Corporation had a return on equity of 14.79% and a net margin of 9.14%. The company had revenue of $567.70 million during the quarter, compared to analysts’ expectations of $546.73 million. During the same period last year, the firm posted $0.88 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. On average, equities research analysts expect that Curtiss-Wright Corporation will post $4.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.59%. This is a boost from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, October 5th. Curtiss-Wright Corporation’s dividend payout ratio (DPR) is presently 11.79%.
In other news, Director S Marce Fuller sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total value of $125,008.00. Following the completion of the sale, the director now directly owns 14,960 shares of the company’s stock, valued at $1,438,553.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Curtiss-Wright Corporation from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Thursday. BidaskClub upgraded Curtiss-Wright Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. upgraded Curtiss-Wright Corporation from a “hold” rating to a “buy” rating and upped their price target for the stock from $103.00 to $112.00 in a report on Monday, June 5th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $107.75.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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