New Millennium Group LLC Makes New $6.23 Million Investment in Curtiss-Wright Corporation $CW

New Millennium Group LLC bought a new stake in Curtiss-Wright Corporation (NYSE:CW) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,467 shares of the aerospace company’s stock, valued at approximately $6,226,000. Curtiss-Wright makes up 2.8% of New Millennium Group LLC’s holdings, making the stock its 11th largest position.

A number of other hedge funds have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in Curtiss-Wright by 31.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 728,745 shares of the aerospace company’s stock valued at $395,665,000 after acquiring an additional 174,592 shares during the last quarter. Norges Bank acquired a new stake in shares of Curtiss-Wright during the second quarter worth about $241,537,000. AQR Capital Management LLC increased its position in shares of Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock worth $189,468,000 after purchasing an additional 122,048 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Curtiss-Wright by 21.0% in the 2nd quarter. American Century Companies Inc. now owns 340,007 shares of the aerospace company’s stock valued at $166,110,000 after purchasing an additional 59,003 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Curtiss-Wright by 4.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 264,340 shares of the aerospace company’s stock valued at $129,143,000 after purchasing an additional 12,466 shares during the period. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Performance

Shares of CW opened at $701.62 on Friday. The stock has a market capitalization of $25.87 billion, a P/E ratio of 54.52, a P/E/G ratio of 3.06 and a beta of 0.93. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.44. Curtiss-Wright Corporation has a 1 year low of $266.88 and a 1 year high of $709.99. The company’s fifty day moving average is $618.63 and its two-hundred day moving average is $561.61.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.13. Curtiss-Wright had a net margin of 13.84% and a return on equity of 19.28%. The business had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. During the same quarter in the previous year, the firm earned $3.27 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Thursday, March 26th. Curtiss-Wright’s payout ratio is currently 7.46%.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, COO Kevin Rayment sold 2,634 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total value of $1,649,753.22. Following the completion of the transaction, the chief operating officer owned 29,896 shares in the company, valued at approximately $18,724,761.68. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO K Christopher Farkas sold 2,665 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total value of $1,669,169.45. Following the completion of the transaction, the chief financial officer owned 7,358 shares of the company’s stock, valued at $4,608,536.14. The trade was a 26.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,269 shares of company stock worth $10,797,098 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CW has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $748.00 target price on shares of Curtiss-Wright in a research report on Tuesday. Citigroup lifted their target price on shares of Curtiss-Wright from $661.00 to $718.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Stifel Nicolaus increased their price target on shares of Curtiss-Wright from $625.00 to $650.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Finally, Truist Financial set a $603.00 price objective on shares of Curtiss-Wright in a research report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $663.17.

Curtiss-Wright Company Profile

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.