OP Asset Management Ltd Takes Position in Curtiss-Wright Corporation $CW

OP Asset Management Ltd bought a new position in Curtiss-Wright Corporation (NYSE:CW) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,847 shares of the aerospace company’s stock, valued at approximately $2,620,000.

A number of other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake in Curtiss-Wright by 10.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company’s stock worth $67,611,000 after acquiring an additional 20,379 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Curtiss-Wright in the 2nd quarter valued at about $235,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Curtiss-Wright by 53.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 35 shares during the period. Marshall Wace LLP purchased a new position in Curtiss-Wright during the second quarter worth $5,423,000. Finally, Cresset Asset Management LLC boosted its position in shares of Curtiss-Wright by 46.4% during the second quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company’s stock valued at $705,000 after buying an additional 457 shares during the period. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CW shares. 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 note on Monday, May 18th. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a report on Friday, May 8th. Finally, Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Curtiss-Wright currently has an average rating of “Moderate Buy” and an average target price of $746.67.

Insider Buying and Selling

In related news, VP Gary A. Ogilby sold 399 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of Curtiss-Wright stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the sale, the executive vice president directly owned 3,962 shares of the company’s stock, valued at approximately $2,983,029.42. This represents a 5.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,119 shares of company stock worth $2,257,998 in the last 90 days. Insiders own 0.51% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of Curtiss-Wright stock opened at $747.45 on Friday. The company has a 50 day moving average price of $737.23 and a 200 day moving average price of $679.65. The firm has a market capitalization of $27.61 billion, a P/E ratio of 54.76, a PEG ratio of 3.46 and a beta of 0.85. 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 Corporation has a 52 week low of $463.00 and a 52 week high of $800.00.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. The business had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. Curtiss-Wright’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.82 EPS. Sell-side analysts expect that Curtiss-Wright Corporation will post 15.17 EPS for the current year.

Curtiss-Wright Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors 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 presently 7.62%.

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.