Quantamental Technologies LLC Acquires New Stake in Curtiss-Wright Corp. (NYSE:CW)

Quantamental Technologies LLC bought a new position in shares of Curtiss-Wright Corp. (NYSE:CW) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,946 shares of the aerospace company’s stock, valued at approximately $447,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Curtiss-Wright by 0.7% during the third quarter. Vanguard Group Inc. now owns 3,546,418 shares of the aerospace company’s stock valued at $487,349,000 after purchasing an additional 23,821 shares during the period. Vanguard Group Inc increased its position in shares of Curtiss-Wright by 0.7% during the third quarter. Vanguard Group Inc now owns 3,546,418 shares of the aerospace company’s stock worth $487,349,000 after acquiring an additional 23,821 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Curtiss-Wright by 5.1% during the third quarter. Bank of New York Mellon Corp now owns 866,619 shares of the aerospace company’s stock worth $119,090,000 after acquiring an additional 41,753 shares in the last quarter. Norges Bank bought a new stake in shares of Curtiss-Wright during the fourth quarter worth about $60,229,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Curtiss-Wright by 1.2% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 550,545 shares of the aerospace company’s stock worth $62,399,000 after acquiring an additional 6,410 shares in the last quarter. 77.37% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently commented on CW. Zacks Investment Research downgraded shares of Curtiss-Wright from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. Bank of America downgraded shares of Curtiss-Wright from a “buy” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research report on Friday, March 1st. They noted that the move was a valuation call. Robert W. Baird upped their price objective on shares of Curtiss-Wright from $123.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. Finally, ValuEngine raised shares of Curtiss-Wright from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $134.29.

In related news, Director S Marce Fuller sold 1,250 shares of the stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $121.07, for a total transaction of $151,337.50. Following the transaction, the director now owns 11,222 shares of the company’s stock, valued at approximately $1,358,647.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Glenn E. Tynan sold 5,000 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $115.00, for a total transaction of $575,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Shares of Curtiss-Wright stock traded down $0.70 on Wednesday, reaching $116.98. 246,814 shares of the company traded hands, compared to its average volume of 295,914. The company has a market capitalization of $4.97 billion, a P/E ratio of 18.36, a P/E/G ratio of 2.33 and a beta of 1.24. The company has a quick ratio of 1.31, a current ratio of 2.05 and a debt-to-equity ratio of 0.56. Curtiss-Wright Corp. has a 52 week low of $95.23 and a 52 week high of $141.29.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, May 8th. The aerospace company reported $1.30 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.14. Curtiss-Wright had a net margin of 11.78% and a return on equity of 18.68%. The company had revenue of $578.30 million for the quarter, compared to analysts’ expectations of $574.76 million. During the same period in the prior year, the company posted $0.98 EPS. Curtiss-Wright’s revenue was up 5.6% compared to the same quarter last year. Equities analysts expect that Curtiss-Wright Corp. will post 7.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, June 19th. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 0.58%. Curtiss-Wright’s dividend payout ratio is currently 9.42%.

Curtiss-Wright declared that its board has approved a stock buyback plan on Wednesday, May 15th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the aerospace company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

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Curtiss-Wright Profile

Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.

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Institutional Ownership by Quarter for Curtiss-Wright (NYSE:CW)

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