First Citizens Bank & Trust Co. grew its stake in Curtiss-Wright Corp. (NYSE:CW) by 39.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,122 shares of the aerospace company’s stock after purchasing an additional 880 shares during the period. First Citizens Bank & Trust Co.’s holdings in Curtiss-Wright were worth $354,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of CW. Norges Bank acquired a new position in shares of Curtiss-Wright in the 4th quarter valued at about $60,229,000. AQR Capital Management LLC lifted its holdings in shares of Curtiss-Wright by 47.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,506,235 shares of the aerospace company’s stock valued at $206,987,000 after buying an additional 485,253 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Curtiss-Wright by 56.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 535,507 shares of the aerospace company’s stock valued at $73,589,000 after buying an additional 192,633 shares during the period. Deutsche Bank AG lifted its holdings in shares of Curtiss-Wright by 217.7% in the 4th quarter. Deutsche Bank AG now owns 235,905 shares of the aerospace company’s stock valued at $24,089,000 after buying an additional 161,644 shares during the period. Finally, FMR LLC lifted its holdings in shares of Curtiss-Wright by 11,081.0% in the 4th quarter. FMR LLC now owns 83,522 shares of the aerospace company’s stock valued at $8,529,000 after buying an additional 82,775 shares during the period. 77.13% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Stifel Nicolaus raised Curtiss-Wright from a “hold” rating to a “buy” rating and boosted their price objective for the company from $120.00 to $122.00 in a report on Wednesday, December 19th. ValuEngine raised Curtiss-Wright from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Robert W. Baird boosted their price objective on Curtiss-Wright from $123.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, February 28th. Finally, Bank of America cut Curtiss-Wright from a “buy” rating to a “neutral” rating and set a $135.00 price target for the company. in a report on Friday, March 1st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $132.14.
NYSE CW opened at $112.70 on Wednesday. The stock has a market capitalization of $4.81 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 2.32 and a beta of 1.27. Curtiss-Wright Corp. has a twelve month low of $95.23 and a twelve month high of $143.38. The company has a quick ratio of 1.34, a current ratio of 1.96 and a debt-to-equity ratio of 0.50.
Curtiss-Wright (NYSE:CW) last announced its earnings results on Tuesday, February 26th. The aerospace company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Curtiss-Wright had a return on equity of 17.91% and a net margin of 11.43%. The business had revenue of $648.62 million during the quarter, compared to analysts’ expectations of $688.52 million. During the same quarter in the prior year, the firm earned $1.52 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that Curtiss-Wright Corp. will post 6.92 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.53%. Curtiss-Wright’s payout ratio is currently 9.42%.
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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