Strs Ohio Sells 400 Shares of Curtiss-Wright Corp. (CW)
Strs Ohio lowered its position in Curtiss-Wright Corp. (NYSE:CW) by 1.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 21,200 shares of the company’s stock after selling 400 shares during the period. Strs Ohio’s holdings in Curtiss-Wright Corp. were worth $1,786,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in CW. State Street Corp raised its stake in Curtiss-Wright Corp. by 48.4% in the first quarter. State Street Corp now owns 1,558,198 shares of the company’s stock worth $117,910,000 after buying an additional 508,349 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Curtiss-Wright Corp. by 141.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 635,740 shares of the company’s stock worth $48,106,000 after buying an additional 372,806 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Curtiss-Wright Corp. by 48.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,139,569 shares of the company’s stock worth $86,231,000 after buying an additional 369,843 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Curtiss-Wright Corp. by 683.0% in the first quarter. UBS Asset Management Americas Inc. now owns 302,531 shares of the company’s stock worth $22,892,000 after buying an additional 263,896 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Curtiss-Wright Corp. by 431.4% in the first quarter. Renaissance Technologies LLC now owns 223,700 shares of the company’s stock worth $16,927,000 after buying an additional 181,600 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.
Curtiss-Wright Corp. (NYSE:CW) traded up 0.56% during midday trading on Monday, hitting $88.36. 199,922 shares of the stock were exchanged. Curtiss-Wright Corp. has a 1-year low of $62.57 and a 1-year high of $92.08. The stock has a market cap of $3.93 billion, a PE ratio of 23.00 and a beta of 1.27. The company’s 50 day moving average is $89.25 and its 200-day moving average is $84.00.
Curtiss-Wright Corp. (NYSE:CW) last announced its earnings results on Wednesday, July 27th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. The business had revenue of $532.80 million for the quarter, compared to the consensus estimate of $523.84 million. Curtiss-Wright Corp. had a net margin of 8.21% and a return on equity of 14.15%. Curtiss-Wright Corp.’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.83 earnings per share. On average, analysts expect that Curtiss-Wright Corp. will post $4.10 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, October 5th. Curtiss-Wright Corp.’s dividend payout ratio is currently 13.58%.
A number of research firms have recently commented on CW. Zacks Investment Research lowered shares of Curtiss-Wright Corp. from a “hold” rating to a “sell” rating in a research note on Monday. William Blair began coverage on shares of Curtiss-Wright Corp. in a research note on Wednesday, August 3rd. They issued a “market perform” rating and a $92.00 price objective on the stock. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $95.00 price objective (up from $89.00) on shares of Curtiss-Wright Corp. in a research note on Monday, June 13th.
In other Curtiss-Wright Corp. news, VP Tom P. Quinly sold 8,500 shares of Curtiss-Wright Corp. stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $89.78, for a total transaction of $763,130.00. Following the transaction, the vice president now directly owns 27,258 shares of the company’s stock, valued at $2,447,223.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Nathman sold 6,000 shares of Curtiss-Wright Corp. stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $90.77, for a total transaction of $544,620.00. Following the transaction, the director now directly owns 5,455 shares in the company, valued at $495,150.35. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
About Curtiss-Wright Corp.
Curtiss-Wright Corporation is a provider of engineered products and services to the commercial, defense, energy and industrial markets. The Company operates through three segments: Commercial/Industrial, which provides a diversified offering of engineered products and services supporting applications primarily across the commercial aerospace and general industrial markets; Defense, which consists of businesses that primarily provide products to the defense markets and to the commercial aerospace market, and Power, which consists of businesses that primarily provide products to the power generation markets and to the naval defense market.
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