Pictet Asset Management Holding SA Buys 37,451 Shares of Curtiss-Wright Corporation $CW

Pictet Asset Management Holding SA increased its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 240.1% in the third quarter, HoldingsChannel.com reports. The firm owned 53,048 shares of the aerospace company’s stock after buying an additional 37,451 shares during the period. Pictet Asset Management Holding SA’s holdings in Curtiss-Wright were worth $28,678,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. AIA Group Ltd raised its position in Curtiss-Wright by 0.6% in the first quarter. AIA Group Ltd now owns 3,412 shares of the aerospace company’s stock valued at $2,324,000 after purchasing an additional 19 shares during the period. Verus Capital Partners LLC boosted its position in shares of Curtiss-Wright by 2.1% during the third quarter. Verus Capital Partners LLC now owns 995 shares of the aerospace company’s stock worth $541,000 after buying an additional 20 shares during the period. Parallel Advisors LLC boosted its position in shares of Curtiss-Wright by 10.5% during the first quarter. Parallel Advisors LLC now owns 305 shares of the aerospace company’s stock worth $208,000 after buying an additional 29 shares during the period. Cooper Financial Group grew its stake in shares of Curtiss-Wright by 9.3% in the third quarter. Cooper Financial Group now owns 376 shares of the aerospace company’s stock valued at $204,000 after buying an additional 32 shares in the last quarter. Finally, Greenline Wealth Management LLC grew its stake in shares of Curtiss-Wright by 9.9% in the first quarter. Greenline Wealth Management LLC now owns 366 shares of the aerospace company’s stock valued at $250,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Insiders Place Their Bets

In other Curtiss-Wright news, Director Larry D. Wyche sold 100 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $596.74, for a total transaction of $59,674.00. Following the sale, the director owned 1,414 shares in the company, valued at $843,790.36. This represents a 6.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John C. Watts sold 1,035 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $619.46, for a total value of $641,141.10. Following the completion of the sale, the executive vice president directly owned 2,736 shares in the company, valued at $1,694,842.56. This represents a 27.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CW. Citigroup cut their price objective on Curtiss-Wright from $622.00 to $505.00 and set a “neutral” rating on the stock in a report on Tuesday. Guggenheim lowered their target price on Curtiss-Wright from $786.00 to $674.00 and set a “buy” rating for the company in a report on Friday, November 6th. Piper Sandler dropped their target price on Curtiss-Wright from $586.00 to $544.00 and set a “neutral” rating for the company in a research report on Friday, November 6th. Morgan Stanley cut their price target on shares of Curtiss-Wright from $860.00 to $625.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. Finally, Wall Street Zen lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Curtiss-Wright currently has an average rating of “Hold” and an average price target of $636.75.

Curtiss-Wright Stock Performance

Shares of CW stock opened at $479.79 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.42 and a debt-to-equity ratio of 0.30. Curtiss-Wright Corporation has a 52 week low of $432.70 and a 52 week high of $808.16. The stock has a market capitalization of $17.40 billion, a PE ratio of 32.01, a P/E/G ratio of 1.98 and a beta of 0.94. The firm has a 50 day moving average of $519.02 and a two-hundred day moving average of $660.86.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Wednesday, November 4th. The aerospace company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.76 by $0.18. Curtiss-Wright had a net margin of 14.86% and a return on equity of 21.08%. The business had revenue of $953.00 million during the quarter, compared to the consensus estimate of $935.09 million. During the same quarter in the previous year, the firm posted $3.31 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, research analysts predict that Curtiss-Wright Corporation will post 15.51 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.2%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, September 25th. Curtiss-Wright’s dividend payout ratio (DPR) is 6.94%.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation is a diversified industrial company that develops and manufactures engineered products and provides services for the aerospace, defense, power-generation and general industrial markets. Its offerings include actuation and control systems, sensors, valves and pumps, and embedded computing and electronics. The company serves customers around the world, including aircraft manufacturers and operators, defense contractors, government agencies, and commercial nuclear power providers.