Norges Bank Makes New Investment in Curtiss-Wright Co. (NYSE:CW)

Norges Bank acquired a new stake in Curtiss-Wright Co. (NYSE:CW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 568,818 shares of the aerospace company’s stock, valued at approximately $201,856,000.

Other large investors have also recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new position in shares of Curtiss-Wright in the 4th quarter worth about $132,626,000. TimesSquare Capital Management LLC grew its position in shares of Curtiss-Wright by 1,773.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 176,072 shares of the aerospace company’s stock valued at $62,483,000 after acquiring an additional 166,672 shares during the period. Principal Financial Group Inc. increased its stake in shares of Curtiss-Wright by 170.2% during the 4th 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 last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Curtiss-Wright by 90.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 338,506 shares of the aerospace company’s stock worth $118,961,000 after purchasing an additional 160,395 shares during the period. Finally, World Investment Advisors LLC purchased a new position in Curtiss-Wright in the third quarter valued at approximately $47,220,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 8,289 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $346.87, for a total transaction of $2,875,205.43. Following the sale, the chief executive officer now owns 38,905 shares in the company, valued at $13,494,977.35. This trade represents a 17.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul J. Ferdenzi sold 1,907 shares of Curtiss-Wright stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $346.98, for a total value of $661,690.86. Following the sale, the insider now directly owns 18,405 shares of the company’s stock, valued at approximately $6,386,166.90. This trade represents a 9.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 116 shares of company stock valued at $35,278 and sold 21,797 shares valued at $7,436,255. 0.67% of the stock is currently owned by insiders.

Curtiss-Wright Trading Down 2.7 %

Curtiss-Wright stock opened at $316.74 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.69. Curtiss-Wright Co. has a fifty-two week low of $246.43 and a fifty-two week high of $393.40. The stock has a market cap of $11.93 billion, a P/E ratio of 30.02, a PEG ratio of 2.48 and a beta of 1.15. The firm’s fifty day moving average price is $334.14 and its 200-day moving average price is $346.94.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Wednesday, February 12th. The aerospace company reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.12 by $0.15. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. Equities research analysts forecast that Curtiss-Wright Co. will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, March 27th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Thursday, March 27th. Curtiss-Wright’s dividend payout ratio (DPR) is currently 7.96%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Curtiss-Wright in a research report on Thursday, December 5th. They issued a “buy” rating and a $452.00 target price for the company. Citigroup started coverage on Curtiss-Wright in a research note on Tuesday, January 21st. They issued a “buy” rating and a $410.00 price objective on the stock. Finally, Truist Financial increased their target price 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.