Arizona State Retirement System Has $1.59 Million Holdings in Curtiss-Wright Co. (NYSE:CW)

Posted by MarketBeat News on Aug 1st, 2022

Arizona State Retirement System lessened its stake in Curtiss-Wright Co. (NYSE:CW – Get Rating) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,607 shares of the aerospace company’s stock after selling 397 shares during the quarter. Arizona State Retirement System’s holdings in Curtiss-Wright were worth $1,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Covestor Ltd bought a new stake in shares of Curtiss-Wright during the fourth quarter worth about $25,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Curtiss-Wright in the first quarter valued at approximately $33,000. Confluence Wealth Services Inc. bought a new stake in Curtiss-Wright in the fourth quarter valued at approximately $41,000. Okabena Investment Services Inc. bought a new stake in Curtiss-Wright in the fourth quarter valued at approximately $45,000. Finally, Evolution Advisers Inc. bought a new stake in Curtiss-Wright in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 81.61% of the company’s stock.

Curtiss-Wright Price Performance

Curtiss-Wright stock opened at $143.44 on Monday. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 23.21 and a beta of 1.34. Curtiss-Wright Co. has a 52-week low of $113.04 and a 52-week high of $162.98. The stock’s 50 day moving average price is $135.60 and its two-hundred day moving average price is $141.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.64.

Curtiss-Wright (NYSE:CW – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The aerospace company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.12. Curtiss-Wright had a return on equity of 15.35% and a net margin of 10.06%. The firm had revenue of $559.46 million for the quarter, compared to analysts’ expectations of $579.97 million. During the same period in the prior year, the business earned $1.51 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts predict that Curtiss-Wright Co. will post 8.19 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 17th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.53%. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, June 16th. Curtiss-Wright’s dividend payout ratio is presently 12.30%.

Analyst Ratings Changes

Several brokerages recently commented on CW. StockNews.com cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Friday, May 13th. Truist Financial reduced their target price on Curtiss-Wright from $167.00 to $166.00 and set a “buy” rating on the stock in a report on Tuesday, July 19th. Finally, Stifel Nicolaus reduced their target price on Curtiss-Wright from $168.00 to $155.00 in a report on Monday, July 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Buy” and a consensus price target of $167.40.

Curtiss-Wright Company Profile

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Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services to the aerospace, defense, general industrial, and power generation markets worldwide. worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.