Cardinal Capital Management Raises Stock Holdings in Curtiss-Wright Co. (NYSE:CW)
Cardinal Capital Management boosted its holdings in shares of Curtiss-Wright Co. (NYSE:CW) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,682 shares of the aerospace company’s stock after acquiring an additional 85 shares during the quarter. Cardinal Capital Management’s holdings in Curtiss-Wright were worth $1,030,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the business. Natural Investments LLC acquired a new stake in Curtiss-Wright in the fourth quarter valued at approximately $115,104,000. Norges Bank acquired a new stake in Curtiss-Wright in the fourth quarter worth about $62,017,000. Clearbridge Investments LLC increased its holdings in shares of Curtiss-Wright by 161.6% during the fourth quarter. Clearbridge Investments LLC now owns 614,237 shares of the aerospace company’s stock valued at $71,467,000 after acquiring an additional 379,419 shares in the last quarter. Jennison Associates LLC increased its stake in Curtiss-Wright by 66.5% during the 4th quarter. Jennison Associates LLC now owns 372,675 shares of the aerospace company’s stock valued at $43,361,000 after purchasing an additional 148,871 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Curtiss-Wright in the first quarter valued at about $10,625,000. Institutional investors and hedge funds own 78.67% of the company’s stock.
In related news, Chairman David Charles Adams sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $125.00, for a total value of $312,500.00. Following the transaction, the chairman now directly owns 61,240 shares of the company’s stock, valued at approximately $7,655,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Harry Jakubowitz sold 297 shares of Curtiss-Wright stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $113.35, for a total value of $33,664.95. Following the completion of the sale, the vice president now owns 22,326 shares in the company, valued at $2,530,652.10. The disclosure for this sale can be found here. Insiders sold a total of 27,929 shares of company stock valued at $3,322,834 in the last ninety days. 0.73% of the stock is currently owned by insiders.
Curtiss-Wright stock opened at $122.95 on Wednesday. The firm has a market cap of $5.03 billion, a PE ratio of 22.03 and a beta of 1.52. Curtiss-Wright Co. has a 12 month low of $81.72 and a 12 month high of $126.82. The stock’s 50 day simple moving average is $120.51 and its two-hundred day simple moving average is $112.04. The company has a current ratio of 2.37, a quick ratio of 1.68 and a debt-to-equity ratio of 0.59.
Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Tuesday, February 23rd. The aerospace company reported $2.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.05. Curtiss-Wright had a net margin of 9.96% and a return on equity of 16.15%. The firm had revenue of $668.44 million for the quarter, compared to the consensus estimate of $672.07 million. On average, equities research analysts forecast that Curtiss-Wright Co. will post 6.84 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 16th. Investors of record on Tuesday, March 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 29th. This represents a $0.68 annualized dividend and a dividend yield of 0.55%. Curtiss-Wright’s dividend payout ratio is presently 9.35%.
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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