Assenagon Asset Management S.A. Acquires New Stake in Curtiss-Wright Co. (NYSE:CW)

Assenagon Asset Management S.A. acquired a new stake in Curtiss-Wright Co. (NYSE:CW) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 82,867 shares of the aerospace company’s stock, valued at approximately $18,462,000. Assenagon Asset Management S.A. owned 0.22% of Curtiss-Wright as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fort Washington Investment Advisors Inc. OH increased its holdings in Curtiss-Wright by 8.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 81,409 shares of the aerospace company’s stock valued at $18,137,000 after purchasing an additional 6,120 shares during the period. Pacer Advisors Inc. boosted its position in Curtiss-Wright by 92.5% during the fourth quarter. Pacer Advisors Inc. now owns 8,235 shares of the aerospace company’s stock valued at $1,835,000 after acquiring an additional 3,957 shares during the last quarter. Portside Wealth Group LLC bought a new stake in Curtiss-Wright during the fourth quarter valued at $204,000. Raymond James Financial Services Advisors Inc. boosted its position in Curtiss-Wright by 71.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,994 shares of the aerospace company’s stock valued at $1,558,000 after acquiring an additional 2,924 shares during the last quarter. Finally, Raymond James & Associates boosted its position in Curtiss-Wright by 2.4% during the fourth quarter. Raymond James & Associates now owns 45,520 shares of the aerospace company’s stock valued at $10,141,000 after acquiring an additional 1,086 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $253.54 on Thursday. Curtiss-Wright Co. has a fifty-two week low of $157.72 and a fifty-two week high of $253.71. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of 27.56 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.50 and a current ratio of 2.13. The firm’s 50-day simple moving average is $235.07 and its 200 day simple moving average is $218.36.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Thursday, February 15th. The aerospace company reported $3.16 EPS for the quarter, beating the consensus estimate of $2.92 by $0.24. The firm had revenue of $785.79 million during the quarter, compared to analyst estimates of $737.09 million. Curtiss-Wright had a net margin of 12.46% and a return on equity of 16.61%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.92 EPS. As a group, research analysts anticipate that Curtiss-Wright Co. will post 10.16 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.32%. Curtiss-Wright’s payout ratio is currently 8.70%.

Insider Transactions at Curtiss-Wright

In other news, CFO K Christopher Farkas sold 2,736 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $240.16, for a total transaction of $657,077.76. Following the completion of the sale, the chief financial officer now owns 9,172 shares in the company, valued at approximately $2,202,747.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Kevin Rayment sold 1,070 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $243.50, for a total value of $260,545.00. Following the completion of the transaction, the chief operating officer now directly owns 28,329 shares of the company’s stock, valued at approximately $6,898,111.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO K Christopher Farkas sold 2,736 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $240.16, for a total transaction of $657,077.76. Following the completion of the transaction, the chief financial officer now directly owns 9,172 shares of the company’s stock, valued at $2,202,747.52. The disclosure for this sale can be found here. In the last quarter, insiders purchased 145 shares of company stock worth $27,451 and sold 12,451 shares worth $3,030,512. 0.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on CW shares. StockNews.com cut shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Truist Financial reissued a “hold” rating and set a $240.00 price objective (down previously from $250.00) on shares of Curtiss-Wright in a research report on Monday. Finally, Stifel Nicolaus increased their price objective on shares of Curtiss-Wright from $244.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Curtiss-Wright has a consensus rating of “Moderate Buy” and an average price target of $238.00.

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.