DnB Asset Management AS Buys New Shares in Curtiss-Wright Co. (NYSE:CW)

DnB Asset Management AS purchased a new position in shares of Curtiss-Wright Co. (NYSE:CW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 827 shares of the aerospace company's stock, valued at approximately $293,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Curtiss-Wright during the fourth quarter valued at approximately $201,856,000. William Blair Investment Management LLC acquired a new stake in shares of Curtiss-Wright during the 4th quarter valued at approximately $132,626,000. TimesSquare Capital Management LLC lifted its stake in Curtiss-Wright by 1,773.1% during the fourth quarter. TimesSquare Capital Management LLC now owns 176,072 shares of the aerospace company's stock worth $62,483,000 after purchasing an additional 166,672 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Curtiss-Wright by 170.2% in the fourth quarter. Principal Financial Group Inc. now owns 259,435 shares of the aerospace company's stock worth $92,065,000 after purchasing an additional 163,433 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Curtiss-Wright by 90.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 338,506 shares of the aerospace company's stock valued at $118,961,000 after purchasing an additional 160,395 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Stock Performance

NYSE:CW traded up $4.56 during mid-day trading on Monday, hitting $287.74. The stock had a trading volume of 516,366 shares, compared to its average volume of 261,977. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The company has a 50 day simple moving average of $326.17 and a 200-day simple moving average of $346.71. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 2.48 and a beta of 1.03. Curtiss-Wright Co. has a 52 week low of $246.43 and a 52 week high of $393.40.

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Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The aerospace company reported $3.27 earnings per share for the quarter, beating analysts' consensus estimates of $3.12 by $0.15. Curtiss-Wright had a return on equity of 17.11% and a net margin of 12.98%. On average, research analysts expect that Curtiss-Wright Co. will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, March 27th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 0.29%. Curtiss-Wright's payout ratio is 7.96%.

Insider Activity

In other news, VP John C. Watts sold 622 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $347.05, for a total value of $215,865.10. Following the completion of the transaction, the vice president now directly owns 5,072 shares in the company, valued at $1,760,237.60. This trade represents a 10.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lynn M. Bamford sold 3,131 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $325.41, for a total value of $1,018,858.71. Following the sale, the chief executive officer now directly owns 42,887 shares in the company, valued at approximately $13,955,858.67. The trade was a 6.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,797 shares of company stock valued at $7,436,255. Company insiders own 0.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of Curtiss-Wright from $333.00 to $357.00 and gave the stock a "hold" rating in a research report on Tuesday, January 14th. Citigroup assumed coverage on shares of Curtiss-Wright in a report on Tuesday, January 21st. They issued a "buy" rating and a $410.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $386.86.

About Curtiss-Wright

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.