Dynamic Technology Lab Private Ltd Has $708,000 Stake in Curtiss-Wright Corp. (CW)
Dynamic Technology Lab Private Ltd grew its position in Curtiss-Wright Corp. (NYSE:CW) by 86.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,948 shares of the aerospace company’s stock after purchasing an additional 2,760 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Curtiss-Wright were worth $708,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN increased its position in Curtiss-Wright by 114.9% during the 1st quarter. Wells Fargo & Company MN now owns 761,507 shares of the aerospace company’s stock worth $102,856,000 after purchasing an additional 407,079 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in Curtiss-Wright during the 1st quarter worth approximately $45,273,000. Boston Partners increased its position in Curtiss-Wright by 25.3% during the 2nd quarter. Boston Partners now owns 1,552,436 shares of the aerospace company’s stock worth $184,771,000 after purchasing an additional 313,643 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Curtiss-Wright during the 2nd quarter worth approximately $16,961,000. Finally, BlackRock Inc. increased its position in Curtiss-Wright by 1.8% during the 1st quarter. BlackRock Inc. now owns 6,128,594 shares of the aerospace company’s stock worth $827,788,000 after purchasing an additional 108,618 shares in the last quarter. Institutional investors own 75.26% of the company’s stock.
In other Curtiss-Wright news, Director S Marce Fuller sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $133.07, for a total transaction of $166,337.50. Following the sale, the director now directly owns 11,734 shares of the company’s stock, valued at approximately $1,561,443.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.
Curtiss-Wright (NYSE:CW) last posted its earnings results on Wednesday, July 25th. The aerospace company reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.52. Curtiss-Wright had a net margin of 10.65% and a return on equity of 17.26%. The firm had revenue of $620.00 million for the quarter, compared to analyst estimates of $616.29 million. During the same period in the previous year, the firm posted $1.13 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. research analysts expect that Curtiss-Wright Corp. will post 6.15 earnings per share for the current fiscal year.
Curtiss-Wright announced that its board has authorized a share buyback program on Monday, May 21st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 0.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Shareholders of record on Thursday, October 4th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Wednesday, October 3rd. Curtiss-Wright’s payout ratio is 11.93%.
A number of equities analysts recently issued reports on CW shares. Zacks Investment Research cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. UBS Group started coverage on shares of Curtiss-Wright in a research report on Wednesday, August 15th. They set a “neutral” rating and a $140.00 price objective for the company. William Blair upgraded shares of Curtiss-Wright from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $145.00 to $129.00 in a research report on Monday, July 2nd. They noted that the move was a valuation call. Finally, ValuEngine cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Thursday, July 5th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $135.90.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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