Allianz Asset Management GmbH Invests $1.93 Million in Curtiss-Wright Corporation (NYSE:CW)

Allianz Asset Management GmbH purchased a new position in shares of Curtiss-Wright Corporation (NYSE:CW) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 6,070 shares of the aerospace company’s stock, valued at approximately $1,926,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whipplewood Advisors LLC raised its stake in shares of Curtiss-Wright by 1,566.7% during the 1st quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 94 shares in the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of Curtiss-Wright in the 4th quarter valued at approximately $35,000. Private Trust Co. NA raised its stake in shares of Curtiss-Wright by 13,800.0% in the 1st quarter. Private Trust Co. NA now owns 139 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 138 shares in the last quarter. Ancora Advisors LLC bought a new position in shares of Curtiss-Wright in the 4th quarter valued at approximately $49,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Curtiss-Wright by 165.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the aerospace company’s stock valued at $63,000 after acquiring an additional 124 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Performance

CW opened at $496.13 on Thursday. The firm has a market capitalization of $18.68 billion, a P/E ratio of 44.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.15. The stock’s 50 day moving average price is $470.13 and its two-hundred day moving average price is $384.78. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 0.37. Curtiss-Wright Corporation has a 12-month low of $258.85 and a 12-month high of $499.30.

Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.43. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. The firm had revenue of $805.65 million for the quarter, compared to analyst estimates of $767.32 million. During the same quarter last year, the firm posted $1.99 EPS. The company’s revenue was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 16th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.19%. The ex-dividend date was Monday, June 16th. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.21. Curtiss-Wright’s dividend payout ratio (DPR) is presently 8.54%.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, Director Bruce D. Hoechner sold 1,900 shares of Curtiss-Wright stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the transaction, the director owned 4,523 shares in the company, valued at approximately $2,026,304. The trade was a 29.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John C. Watts sold 450 shares of Curtiss-Wright stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $449.36, for a total value of $202,212.00. Following the completion of the transaction, the vice president owned 4,959 shares of the company’s stock, valued at approximately $2,228,376.24. The trade was a 8.32% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CW. Morgan Stanley raised their price objective on Curtiss-Wright from $405.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Citigroup raised their price objective on Curtiss-Wright from $525.00 to $568.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Robert W. Baird raised their price objective on Curtiss-Wright from $432.00 to $500.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Wall Street Zen raised Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 12th. Finally, Truist Financial cut their price objective on Curtiss-Wright from $356.00 to $338.00 and set a “hold” rating on the stock in a research note on Friday, July 11th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $467.14.

Curtiss-Wright 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.