Resona Asset Management Co. Ltd. Purchases Shares of 10,711 Curtiss-Wright Corporation $CW

Resona Asset Management Co. Ltd. purchased a new stake in Curtiss-Wright Corporation (NYSE:CW) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,711 shares of the aerospace company’s stock, valued at approximately $7,215,000.

Other large investors also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC acquired a new position in Curtiss-Wright in the 4th quarter worth $31,000. Larson Financial Group LLC raised its stake in shares of Curtiss-Wright by 53.8% in the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 21 shares during the period. Transamerica Financial Advisors LLC lifted its holdings in shares of Curtiss-Wright by 25.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $40,000 after purchasing an additional 15 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Curtiss-Wright in the fourth quarter valued at about $42,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Curtiss-Wright during the fourth quarter worth about $43,000. Institutional investors own 82.71% of the company’s stock.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the sale, the vice president owned 2,172 shares in the company, valued at $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,119 shares of company stock worth $2,257,998 over the last 90 days. Company insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CW. Stifel Nicolaus set a $724.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research note on Friday, May 8th. Finally, Citigroup boosted their price target on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $749.67.

Curtiss-Wright Stock Performance

CW stock traded down $4.69 during trading hours on Friday, reaching $755.02. The stock had a trading volume of 121,290 shares, compared to its average volume of 294,787. The stock has a market capitalization of $27.89 billion, a PE ratio of 55.31, a price-to-earnings-growth ratio of 3.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The stock has a 50-day simple moving average of $745.72 and a 200 day simple moving average of $694.51. Curtiss-Wright Corporation has a fifty-two week low of $463.00 and a fifty-two week high of $808.16.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The company had revenue of $913.69 million for the quarter, compared to analysts’ expectations of $863.83 million. During the same period in the prior year, the firm earned $2.82 EPS. Curtiss-Wright’s quarterly revenue was up 13.4% compared to the same quarter last year. Analysts predict that Curtiss-Wright Corporation will post 15.18 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

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

Curtiss-Wright 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.