Pinnbrook Capital Management LP Takes $13.26 Million Position in Curtiss-Wright Corporation $CW

Pinnbrook Capital Management LP acquired a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 27,134 shares of the aerospace company’s stock, valued at approximately $13,256,000. Curtiss-Wright accounts for 1.5% of Pinnbrook Capital Management LP’s portfolio, making the stock its 19th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH bought a new stake in Curtiss-Wright in the first quarter worth about $1,926,000. Spire Wealth Management boosted its position in shares of Curtiss-Wright by 21.5% during the 2nd quarter. Spire Wealth Management now owns 549 shares of the aerospace company’s stock valued at $268,000 after purchasing an additional 97 shares in the last quarter. Massachusetts Wealth Management acquired a new position in shares of Curtiss-Wright in the 2nd quarter worth approximately $266,000. PNC Financial Services Group Inc. raised its holdings in shares of Curtiss-Wright by 47.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,641 shares of the aerospace company’s stock worth $2,742,000 after purchasing an additional 2,766 shares in the last quarter. Finally, Ifrah Financial Services Inc. acquired a new stake in Curtiss-Wright during the second quarter valued at approximately $230,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP John C. Watts sold 1,110 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the sale, the vice president directly owned 3,863 shares in the company, valued at approximately $1,856,171.50. This trade represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.55% of the stock is owned by company insiders.

Curtiss-Wright Price Performance

CW opened at $550.67 on Friday. The firm has a market capitalization of $20.31 billion, a P/E ratio of 46.47, a PEG ratio of 3.41 and a beta of 1.12. The stock has a fifty day moving average of $546.80 and a 200-day moving average of $489.56. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $612.28.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.12. The firm had revenue of $869.00 million for the quarter, compared to analyst estimates of $869.03 million. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.Curtiss-Wright’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.89 earnings per share. Equities analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, September 26th. Curtiss-Wright’s dividend payout ratio is 7.82%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CW shares. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Morgan Stanley raised their price objective on Curtiss-Wright from $565.00 to $645.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Stifel Nicolaus boosted their target price on Curtiss-Wright from $457.00 to $502.00 and gave the stock a “hold” rating in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $625.00 price target on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Finally, Truist Financial lifted their price target on Curtiss-Wright from $525.00 to $537.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $562.83.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.