568,818 Shares in Curtiss-Wright Co. (NYSE:CW) Acquired by Norges Bank

Norges Bank bought a new stake in Curtiss-Wright Co. (NYSE:CW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 568,818 shares of the aerospace company’s stock, valued at approximately $201,856,000. Norges Bank owned approximately 1.50% of Curtiss-Wright at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC increased its stake in shares of Curtiss-Wright by 2.6% in the third quarter. Tidal Investments LLC now owns 1,159 shares of the aerospace company’s stock valued at $381,000 after buying an additional 29 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in Curtiss-Wright by 0.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,319 shares of the aerospace company’s stock valued at $1,178,000 after acquiring an additional 29 shares during the period. Harbour Investments Inc. raised its stake in shares of Curtiss-Wright by 10.6% during the fourth quarter. Harbour Investments Inc. now owns 312 shares of the aerospace company’s stock valued at $111,000 after acquiring an additional 30 shares during the last quarter. Cornerstone Investment Partners LLC raised its stake in shares of Curtiss-Wright by 3.6% during the fourth quarter. Cornerstone Investment Partners LLC now owns 918 shares of the aerospace company’s stock valued at $326,000 after acquiring an additional 32 shares during the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in shares of Curtiss-Wright by 5.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 774 shares of the aerospace company’s stock worth $275,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Down 2.7 %

Curtiss-Wright stock opened at $316.74 on Monday. The company has a market capitalization of $11.93 billion, a PE ratio of 30.02, a PEG ratio of 2.48 and a beta of 1.15. Curtiss-Wright Co. has a 12-month low of $246.43 and a 12-month high of $393.40. The firm’s fifty day moving average is $334.14 and its 200 day moving average is $346.94. The company has a quick ratio of 1.19, a current ratio of 1.69 and a debt-to-equity ratio of 0.39.

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

Curtiss-Wright Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Thursday, March 27th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis 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 7.96%.

Insider Activity

In other news, CEO Lynn M. Bamford sold 8,289 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $346.87, for a total value of $2,875,205.43. Following the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul J. Ferdenzi sold 1,907 shares of the company’s stock in a transaction on 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 owns 18,405 shares of the company’s stock, valued at $6,386,166.90. This trade represents a 9.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 116 shares of company stock worth $35,278 and sold 21,797 shares worth $7,436,255. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CW shares. Deutsche Bank Aktiengesellschaft assumed coverage on Curtiss-Wright in a research report on Thursday, December 5th. They set a “buy” rating and a $452.00 target price for the company. Truist Financial raised their price objective on Curtiss-Wright from $333.00 to $357.00 and gave the stock a “hold” rating in a research report on Tuesday, January 14th. Finally, Citigroup assumed coverage on Curtiss-Wright in a report on Tuesday, January 21st. They issued a “buy” rating and a $410.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.86.

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.