KLP Kapitalforvaltning AS Buys New Shares in Curtiss-Wright Co. (NYSE:CW)

KLP Kapitalforvaltning AS purchased a new position in shares of Curtiss-Wright Co. (NYSE:CW) during the 4th quarter, Holdings Channel reports. The fund purchased 9,900 shares of the aerospace company’s stock, valued at approximately $3,513,000.

A number of other large investors also recently modified their holdings of CW. William Blair Investment Management LLC bought a new position in shares of Curtiss-Wright in the fourth quarter valued at $132,626,000. TimesSquare Capital Management LLC lifted its stake in Curtiss-Wright by 1,773.1% in the fourth 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 last quarter. Principal Financial Group Inc. grew its position in shares of Curtiss-Wright by 170.2% in the 4th quarter. Principal Financial Group Inc. now owns 259,435 shares of the aerospace company’s stock valued at $92,065,000 after acquiring an additional 163,433 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Curtiss-Wright by 90.1% during 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 last quarter. Finally, World Investment Advisors LLC bought a new stake in shares of Curtiss-Wright in the 3rd quarter valued at about $47,220,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CW shares. Deutsche Bank Aktiengesellschaft started coverage on Curtiss-Wright in a report on Thursday, December 5th. They set a “buy” rating and a $452.00 price target for the company. Citigroup assumed coverage on Curtiss-Wright in a research note on Tuesday, January 21st. They set a “buy” rating and a $410.00 target price for the company. Finally, Truist Financial increased their price target on Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $386.86.

Curtiss-Wright Stock Performance

CW opened at $330.23 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.69 and a quick ratio of 1.19. The business has a fifty day simple moving average of $335.95 and a 200 day simple moving average of $346.29. Curtiss-Wright Co. has a 1 year low of $246.43 and a 1 year high of $393.40. The company has a market capitalization of $12.44 billion, a PE ratio of 31.30, a price-to-earnings-growth ratio of 2.48 and a beta of 1.15.

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

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, March 27th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 0.25%. Curtiss-Wright’s dividend payout ratio is presently 7.96%.

Insider Activity

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

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.