Curtiss-Wright Corporation $CW Shares Newly Acquired by Reliant Investment Management LLC

Reliant Investment Management LLC acquired a new stake in Curtiss-Wright Corporation (NYSE:CW) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 7,835 shares of the aerospace company’s stock, valued at approximately $4,261,000. Curtiss-Wright comprises approximately 1.5% of Reliant Investment Management LLC’s investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of CW. BlackRock Inc. bought a new position in Curtiss-Wright in the second quarter valued at approximately $3,448,649,000. Concurrent Investment Advisors LLC increased its position in shares of Curtiss-Wright by 220.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,073 shares of the aerospace company’s stock worth $2,329,000 after purchasing an additional 2,113 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Curtiss-Wright by 114.8% during the 4th quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company’s stock worth $5,931,000 after purchasing an additional 5,749 shares during the last quarter. Amundi increased its position in shares of Curtiss-Wright by 47.6% during the 2nd quarter. Amundi now owns 154,668 shares of the aerospace company’s stock worth $117,201,000 after purchasing an additional 49,907 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Curtiss-Wright by 2.2% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 94,740 shares of the aerospace company’s stock worth $64,529,000 after purchasing an additional 2,065 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Stock Down 0.2%

Shares of CW stock opened at $500.89 on Thursday. Curtiss-Wright Corporation has a 52-week low of $494.11 and a 52-week high of $808.16. The stock has a market cap of $18.50 billion, a price-to-earnings ratio of 34.47, a PEG ratio of 2.27 and a beta of 0.88. The firm’s 50-day moving average is $587.53 and its 200-day moving average is $682.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%. The business had revenue of $924.01 million during the quarter, compared to analysts’ expectations of $926.17 million. During the same quarter last year, the company posted $3.23 earnings per share. Curtiss-Wright’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts predict that Curtiss-Wright Corporation will post 15.27 EPS for the current year.

Curtiss-Wright Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 25th were paid a $0.26 dividend. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, September 25th. Curtiss-Wright’s dividend payout ratio is currently 7.16%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

CW has been the subject of several recent analyst reports. Citigroup cut their price objective on Curtiss-Wright from $793.00 to $622.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Guggenheim initiated coverage on shares of Curtiss-Wright in a research note on Monday, September 14th. They issued a “buy” rating and a $786.00 target price for the company. Stifel Nicolaus raised their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on shares of Curtiss-Wright in a report on Wednesday, August 12th. Finally, Wall Street Zen lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $746.88.

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.