Pinnbrook Capital Management LP Acquires Shares of 27,134 Curtiss-Wright Corporation $CW

Pinnbrook Capital Management LP acquired a new position in shares of Curtiss-Wright Corporation (NYSE:CW) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 27,134 shares of the aerospace company’s stock, valued at approximately $13,256,000. Curtiss-Wright makes up 1.5% of Pinnbrook Capital Management LP’s portfolio, making the stock its 19th largest holding. Pinnbrook Capital Management LP owned about 0.07% of Curtiss-Wright at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Curtiss-Wright by 7.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,683 shares of the aerospace company’s stock valued at $4,731,000 after buying an additional 681 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Curtiss-Wright during the 2nd quarter worth approximately $270,731,000. Donoghue Forlines LLC acquired a new position in shares of Curtiss-Wright in the 2nd quarter worth approximately $2,799,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of Curtiss-Wright in the 2nd quarter valued at approximately $933,000. Finally, Candriam S.C.A. acquired a new stake in shares of Curtiss-Wright during the 2nd quarter valued at approximately $723,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Wall Street Analyst Weigh In

CW has been the topic of a number of research reports. Wall Street Zen cut shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Morgan Stanley boosted their price objective 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 reiterated a “buy” rating and set a $625.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Finally, Truist Financial increased their price target on Curtiss-Wright from $525.00 to $537.00 and gave the stock a “hold” rating in a research report on Friday, November 7th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and an average target price of $562.83.

Insider Transactions at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $480.50, for a total value of $533,355.00. Following the completion of the transaction, the vice president owned 3,863 shares of the company’s stock, valued at approximately $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.55% of the company’s stock.

Curtiss-Wright Trading Up 0.8%

Curtiss-Wright stock opened at $550.67 on Friday. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $612.28. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $20.31 billion, a price-to-earnings ratio of 46.47, a PEG ratio of 3.41 and a beta of 1.12. The firm has a 50-day moving average price of $546.80 and a two-hundred day moving average price of $489.56.

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

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Friday, September 26th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.96 annualized dividend and a yield of 0.2%. Curtiss-Wright’s payout ratio is presently 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.