Texas Permanent School Fund Corp Trims Holdings in Curtiss-Wright Corporation $CW

by · The Markets Daily

Texas Permanent School Fund Corp lowered its holdings in Curtiss-Wright Corporation (NYSE:CW – Free Report) by 12.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 27,644 shares of the aerospace company’s stock after selling 4,025 shares during the period. Texas Permanent School Fund Corp’s holdings in Curtiss-Wright were worth $13,505,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA bought a new stake in Curtiss-Wright in the second quarter valued at $270,731,000. Norges Bank purchased a new stake in shares of Curtiss-Wright in the 2nd quarter worth about $241,537,000. Munro Partners bought a new stake in shares of Curtiss-Wright during the 2nd quarter valued at about $78,000,000. AQR Capital Management LLC increased its position in shares of Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock valued at $189,468,000 after buying an additional 122,048 shares during the period. Finally, TD Asset Management Inc raised its stake in Curtiss-Wright by 14.4% in the second quarter. TD Asset Management Inc now owns 789,378 shares of the aerospace company’s stock worth $385,651,000 after buying an additional 99,643 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CW has been the topic of several research reports. Stifel Nicolaus lifted their price objective on Curtiss-Wright from $457.00 to $502.00 and gave the company a “hold” rating in a research report on Monday, October 20th. Wall Street Zen cut Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup assumed coverage on Curtiss-Wright in a research note on Thursday. They issued a “neutral” rating and a $607.00 price target on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Curtiss-Wright in a report on Monday, December 8th. Finally, Morgan Stanley boosted their target price on shares of Curtiss-Wright from $565.00 to $645.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Curtiss-Wright presently has an average rating of “Moderate Buy” and an average price target of $569.33.

Get Our Latest Report on Curtiss-Wright

Curtiss-Wright Stock Down 4.3%

CW stock opened at $544.83 on Monday. The business has a 50 day moving average of $559.71 and a 200 day moving average of $512.71. The firm has a market cap of $20.09 billion, a PE ratio of 44.40, a price-to-earnings-growth ratio of 2.87 and a beta of 0.93. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $612.28. The company has a quick ratio of 1.17, a current ratio of 1.75 and a debt-to-equity ratio of 0.38.

Curtiss-Wright (NYSE:CW – Get Free Report) last released its earnings results on Thursday, November 6th. The aerospace company reported $3.40 EPS for the quarter, topping the consensus estimate of $3.28 by $0.12. Curtiss-Wright had a return on equity of 18.82% and a net margin of 13.78%.The business had revenue of $869.00 million for the quarter, compared to the consensus estimate of $869.03 million. During the same period in the previous year, the company posted $2.89 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, November 28th. Curtiss-Wright’s dividend payout ratio is 7.82%.

Curtiss-Wright Profile

(Free Report)

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.

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