Retirement Systems of Alabama Boosts Stock Holdings in Curtiss-Wright Co. (NYSE:CW)

Retirement Systems of Alabama grew its holdings in Curtiss-Wright Co. (NYSE:CW) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,438 shares of the aerospace company’s stock after purchasing an additional 2,154 shares during the quarter. Retirement Systems of Alabama owned approximately 0.26% of Curtiss-Wright worth $21,931,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CW. Alliance Wealth Advisors LLC UT boosted its position in Curtiss-Wright by 2.5% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 2,495 shares of the aerospace company’s stock valued at $556,000 after purchasing an additional 61 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Curtiss-Wright by 39.4% in the 4th quarter. Russell Investments Group Ltd. now owns 15,094 shares of the aerospace company’s stock valued at $3,363,000 after buying an additional 4,270 shares in the last quarter. Truist Financial Corp grew its position in shares of Curtiss-Wright by 16.4% in the 4th quarter. Truist Financial Corp now owns 12,485 shares of the aerospace company’s stock worth $2,781,000 after buying an additional 1,756 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in shares of Curtiss-Wright by 2.6% during the 4th quarter. Bahl & Gaynor Inc. now owns 30,273 shares of the aerospace company’s stock worth $6,745,000 after acquiring an additional 755 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Curtiss-Wright during the fourth quarter valued at approximately $1,894,000. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, VP Paul J. Ferdenzi sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $240.00, for a total value of $600,000.00. Following the sale, the vice president now owns 17,383 shares in the company, valued at approximately $4,171,920. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Lynn M. Bamford sold 2,620 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $243.60, for a total value of $638,232.00. Following the completion of the sale, the chief executive officer now directly owns 35,773 shares in the company, valued at $8,714,302.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul J. Ferdenzi sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $240.00, for a total value of $600,000.00. Following the transaction, the vice president now directly owns 17,383 shares of the company’s stock, valued at $4,171,920. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,451 shares of company stock worth $3,030,512. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. StockNews.com lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday. Truist Financial reissued a “hold” rating and issued a $240.00 price target (down previously from $250.00) on shares of Curtiss-Wright in a report on Monday, March 25th. Robert W. Baird upped their price objective on shares of Curtiss-Wright from $246.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus lifted their target price on shares of Curtiss-Wright from $255.00 to $272.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Curtiss-Wright has an average rating of “Moderate Buy” and an average target price of $260.25.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $257.00 on Tuesday. Curtiss-Wright Co. has a 52 week low of $157.72 and a 52 week high of $261.46. The business’s 50 day moving average price is $247.18 and its 200 day moving average price is $227.27. The company has a quick ratio of 1.50, a current ratio of 2.13 and a debt-to-equity ratio of 0.45. The firm has a market cap of $9.84 billion, a P/E ratio of 27.93 and a beta of 1.18.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Thursday, February 15th. The aerospace company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.24. Curtiss-Wright had a net margin of 12.46% and a return on equity of 16.61%. The firm had revenue of $785.79 million for the quarter, compared to analyst estimates of $737.09 million. During the same quarter in the prior year, the business earned $2.92 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Curtiss-Wright Co. will post 10.16 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.31%. The ex-dividend date was Wednesday, March 27th. Curtiss-Wright’s dividend payout ratio (DPR) is 8.70%.

Curtiss-Wright 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.