US Bancorp DE Buys 735 Shares of Curtiss-Wright Corp. (CW)
US Bancorp DE lifted its stake in Curtiss-Wright Corp. (NYSE:CW) by 6.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,435 shares of the aerospace company’s stock after acquiring an additional 735 shares during the period. US Bancorp DE’s holdings in Curtiss-Wright were worth $1,709,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Curtiss-Wright during the 3rd quarter valued at about $107,000. Fort L.P. acquired a new position in Curtiss-Wright during the 2nd quarter valued at about $116,000. Sageworth Trust Co increased its position in Curtiss-Wright by 1,075.0% during the 3rd quarter. Sageworth Trust Co now owns 1,175 shares of the aerospace company’s stock valued at $161,000 after buying an additional 1,075 shares in the last quarter. Cerebellum GP LLC acquired a new position in Curtiss-Wright during the 3rd quarter valued at about $182,000. Finally, Creative Planning acquired a new position in Curtiss-Wright during the 3rd quarter valued at about $222,000. 76.71% of the stock is currently owned by institutional investors.
In other news, Director S Marce Fuller sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $133.07, for a total value of $166,337.50. Following the sale, the director now owns 11,734 shares in the company, valued at $1,561,443.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is owned by corporate insiders.
Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Tuesday, October 30th. The aerospace company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.12. The business had revenue of $595.40 million for the quarter, compared to analyst estimates of $628.27 million. Curtiss-Wright had a return on equity of 17.59% and a net margin of 10.98%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.43 earnings per share. Research analysts anticipate that Curtiss-Wright Corp. will post 6.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 30th will be paid a $0.15 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.55%. Curtiss-Wright’s payout ratio is 11.93%.
A number of research analysts have recently weighed in on the company. ValuEngine lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Thursday, October 11th. Stifel Nicolaus set a $120.00 price objective on Curtiss-Wright and gave the company a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. UBS Group assumed coverage on Curtiss-Wright in a report on Wednesday, August 15th. They issued a “neutral” rating and a $140.00 price objective on the stock. Finally, Bank of America cut their price objective on Curtiss-Wright from $150.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $134.89.
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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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