Curtiss-Wright Corporation $CW Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 37.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,319 shares of the aerospace company’s stock after selling 40,772 shares during the period. California Public Employees Retirement System’s holdings in Curtiss-Wright were worth $33,377,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Curtiss-Wright during the 2nd quarter valued at approximately $27,000. Penserra Capital Management LLC acquired a new stake in Curtiss-Wright during the second quarter worth $29,000. 1 North Wealth Services LLC purchased a new stake in Curtiss-Wright in the first quarter valued at $32,000. West Oak Capital LLC purchased a new stake in Curtiss-Wright in the second quarter valued at $49,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Curtiss-Wright by 53.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CW. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $625.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Truist Financial increased their target price on shares of Curtiss-Wright from $525.00 to $537.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $457.00 to $502.00 and gave the company a “hold” rating in a research report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Curtiss-Wright in a report on Monday. Finally, Morgan Stanley increased their price objective on shares of Curtiss-Wright from $565.00 to $645.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $562.83.

Curtiss-Wright Stock Up 3.0%

Shares of CW opened at $555.47 on Thursday. The company’s 50-day simple moving average is $558.95 and its 200-day simple moving average is $510.60. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.75. Curtiss-Wright Corporation has a 1 year low of $266.88 and a 1 year high of $612.28. The stock has a market capitalization of $20.49 billion, a PE ratio of 45.27, a P/E/G ratio of 2.83 and a beta of 0.93.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.12. Curtiss-Wright had a net margin of 13.78% and a return on equity of 18.82%. The firm had revenue of $869.00 million for the quarter, compared to the consensus estimate of $869.03 million. During the same period in the prior year, the firm earned $2.89 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright’s dividend payout ratio is currently 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.