Fayez Sarofim & Co. lowered its holdings in shares of Curtiss-Wright Corporation (NYSE:CW) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,912 shares of the aerospace company’s stock after selling 1,824 shares during the quarter. Fayez Sarofim & Co. owned approximately 0.27% of Curtiss-Wright Corporation worth $11,097,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CW. BlackRock Inc. boosted its position in Curtiss-Wright Corporation by 25,824.5% during the first quarter. BlackRock Inc. now owns 5,099,604 shares of the aerospace company’s stock worth $465,389,000 after purchasing an additional 5,079,933 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Curtiss-Wright Corporation by 10.2% during the first quarter. Vanguard Group Inc. now owns 3,583,354 shares of the aerospace company’s stock valued at $327,018,000 after acquiring an additional 331,982 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Curtiss-Wright Corporation during the second quarter valued at approximately $27,768,000. AQR Capital Management LLC raised its holdings in shares of Curtiss-Wright Corporation by 38.5% during the first quarter. AQR Capital Management LLC now owns 1,024,532 shares of the aerospace company’s stock valued at $93,499,000 after acquiring an additional 285,005 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of Curtiss-Wright Corporation by 251.5% during the second quarter. Prudential Financial Inc. now owns 327,613 shares of the aerospace company’s stock valued at $30,068,000 after acquiring an additional 234,409 shares during the last quarter. Institutional investors own 76.62% of the company’s stock.
Shares of Curtiss-Wright Corporation (NYSE:CW) traded up 1.15% during trading on Friday, hitting $100.98. The company’s stock had a trading volume of 561,493 shares. The company has a 50-day moving average price of $96.56 and a 200-day moving average price of $93.01. Curtiss-Wright Corporation has a one year low of $82.77 and a one year high of $107.61. The stock has a market cap of $4.46 billion, a PE ratio of 22.91 and a beta of 1.26.
Curtiss-Wright Corporation (NYSE:CW) last issued its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.16. The company had revenue of $567.70 million during the quarter, compared to the consensus estimate of $546.73 million. Curtiss-Wright Corporation had a return on equity of 14.79% and a net margin of 9.14%. Curtiss-Wright Corporation’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. Equities analysts predict that Curtiss-Wright Corporation will post $4.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be issued a $0.15 dividend. The ex-dividend date is Thursday, October 5th. This is an increase from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 0.59%. Curtiss-Wright Corporation’s payout ratio is 11.79%.
In other news, Director S Marce Fuller sold 1,300 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total transaction of $125,008.00. Following the completion of the sale, the director now directly owns 14,960 shares in the company, valued at approximately $1,438,553.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.
A number of brokerages have commented on CW. Zacks Investment Research raised Curtiss-Wright Corporation from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a report on Thursday. BidaskClub raised Curtiss-Wright Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, SunTrust Banks, Inc. raised Curtiss-Wright Corporation from a “hold” rating to a “buy” rating and increased their target price for the company 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 given a buy rating to the company. The stock presently 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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