Stone Ridge Asset Management LLC lessened its holdings in shares of Curtiss-Wright Corp. (NYSE:CW) by 18.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,482 shares of the aerospace company’s stock after selling 3,202 shares during the period. Stone Ridge Asset Management LLC’s holdings in Curtiss-Wright were worth $1,990,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in Curtiss-Wright during the 3rd quarter valued at approximately $107,000. Fort L.P. bought a new stake in Curtiss-Wright during the 2nd quarter valued at approximately $116,000. Sageworth Trust Co raised its stake in Curtiss-Wright by 1,075.0% during the 3rd quarter. Sageworth Trust Co now owns 1,175 shares of the aerospace company’s stock valued at $161,000 after purchasing an additional 1,075 shares during the period. Cerebellum GP LLC bought a new stake in Curtiss-Wright during the 3rd quarter valued at approximately $182,000. Finally, Creative Planning bought a new stake in Curtiss-Wright during the 3rd quarter valued at approximately $222,000. 75.98% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. ValuEngine downgraded Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Bank of America reduced their price objective on Curtiss-Wright from $150.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, November 8th. Stifel Nicolaus set a $120.00 price objective on Curtiss-Wright and gave the stock a “hold” rating in a research note on Thursday, November 1st. Finally, SunTrust Banks reduced their price objective on Curtiss-Wright to $148.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $134.89.
NYSE:CW opened at $107.33 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.53 and a current ratio of 2.25. Curtiss-Wright Corp. has a 1 year low of $105.77 and a 1 year high of $143.38. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.40 and a beta of 1.40.
Curtiss-Wright (NYSE:CW) last released its earnings results on Tuesday, October 30th. The aerospace company reported $1.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.12. The firm had revenue of $595.40 million for the quarter, compared to the consensus estimate of $628.27 million. Curtiss-Wright had a return on equity of 17.59% and a net margin of 10.98%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 EPS. On average, equities analysts expect that Curtiss-Wright Corp. will post 6.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Thursday, October 4th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, October 3rd. Curtiss-Wright’s dividend payout ratio is currently 11.93%.
In other news, Director S Marce Fuller sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $133.07, for a total transaction of $166,337.50. Following the transaction, the director now owns 11,734 shares of the company’s stock, valued at approximately $1,561,443.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.
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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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