New York State Common Retirement Fund Lowers Stock Position in Curtiss-Wright Corporation $CW

New York State Common Retirement Fund lessened its stake in Curtiss-Wright Corporation (NYSE:CW) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,130 shares of the aerospace company’s stock after selling 241 shares during the period. New York State Common Retirement Fund owned approximately 0.15% of Curtiss-Wright worth $27,911,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CW. Creative Planning lifted its stake in shares of Curtiss-Wright by 30.4% in the 2nd quarter. Creative Planning now owns 5,572 shares of the aerospace company’s stock valued at $2,722,000 after acquiring an additional 1,300 shares during the last quarter. Spire Wealth Management grew its position in Curtiss-Wright by 21.5% during the 2nd quarter. Spire Wealth Management now owns 549 shares of the aerospace company’s stock worth $268,000 after acquiring an additional 97 shares during the last quarter. Massachusetts Wealth Management purchased a new position in Curtiss-Wright in the 2nd quarter worth approximately $266,000. PNC Financial Services Group Inc. lifted its position in Curtiss-Wright by 47.1% in the first quarter. PNC Financial Services Group Inc. now owns 8,641 shares of the aerospace company’s stock valued at $2,742,000 after purchasing an additional 2,766 shares during the last quarter. Finally, Ifrah Financial Services Inc. bought a new stake in Curtiss-Wright in the second quarter valued at approximately $230,000. Institutional investors own 82.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CW. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a report on Wednesday, October 8th. Morgan Stanley increased their price target on shares of Curtiss-Wright from $565.00 to $645.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $625.00 price target on shares of Curtiss-Wright in a report on Wednesday, October 8th. Stifel Nicolaus upped their price objective on shares of Curtiss-Wright from $457.00 to $502.00 and gave the company a “hold” rating in a research note on Monday, October 20th. Finally, Truist Financial increased their target price on shares of Curtiss-Wright from $525.00 to $537.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $562.83.

Curtiss-Wright Stock Up 0.1%

Shares of NYSE CW opened at $563.67 on Monday. The firm has a fifty day simple moving average of $555.91 and a two-hundred day simple moving average of $503.98. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $612.28. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $20.79 billion, a PE ratio of 47.57, a price-to-earnings-growth ratio of 3.41 and a beta of 1.12.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.28 by $0.12. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The firm had revenue of $869.00 million for the quarter, compared to analyst estimates of $869.03 million. During the same quarter in the previous year, the firm posted $2.89 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, November 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright’s dividend payout ratio is 7.82%.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.