SEB Asset Management AB Acquires Shares of 2,564 Curtiss-Wright Corporation $CW

SEB Asset Management AB bought a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) in the first quarter, HoldingsChannel reports. The institutional investor bought 2,564 shares of the aerospace company’s stock, valued at approximately $1,746,000.

Several other large investors also recently modified their holdings of CW. Cary Street Partners Investment Advisory LLC acquired a new position in Curtiss-Wright in the fourth quarter valued at about $31,000. Larson Financial Group LLC grew its stake in Curtiss-Wright by 53.8% during the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock worth $33,000 after buying an additional 21 shares in the last quarter. Transamerica Financial Advisors LLC grew its stake in Curtiss-Wright by 25.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company’s stock worth $40,000 after buying an additional 15 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Curtiss-Wright in the 4th quarter valued at about $42,000. Finally, Sunbelt Securities Inc. bought a new position in Curtiss-Wright in the 3rd quarter valued at about $43,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Stock Performance

NYSE:CW opened at $749.55 on Friday. The stock’s 50-day moving average is $745.17 and its 200-day moving average is $706.10. Curtiss-Wright Corporation has a 1-year low of $464.91 and a 1-year high of $808.16. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market cap of $27.69 billion, a P/E ratio of 54.91, a price-to-earnings-growth ratio of 3.36 and a beta of 0.86.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping the consensus estimate of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. During the same period last year, the company earned $2.82 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. Equities research analysts anticipate that Curtiss-Wright Corporation will post 15.22 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright’s payout ratio is currently 7.62%.

Analyst Ratings Changes

CW has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a report on Monday. Weiss Ratings cut shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research report on Friday, May 8th. Morgan Stanley restated an “overweight” rating and set a $860.00 target price on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Finally, Citigroup raised their target price on Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $773.67.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, 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 transaction of $165,640.20. Following the transaction, the executive vice president directly owned 3,962 shares of the company’s stock, valued at approximately $2,983,029.42. The trade was a 5.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the sale, the chief executive officer owned 48,134 shares in the company, valued at $34,739,270.48. This trade represents a 4.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 over the last three months. Company insiders own 0.51% of the company’s stock.

About Curtiss-Wright

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.