State of Michigan Retirement System Purchases 200 Shares of Curtiss-Wright Co. (NYSE:CW)

State of Michigan Retirement System lifted its position in Curtiss-Wright Co. (NYSE:CW) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,361 shares of the aerospace company’s stock after purchasing an additional 200 shares during the quarter. State of Michigan Retirement System’s holdings in Curtiss-Wright were worth $2,396,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CW. Norges Bank bought a new position in shares of Curtiss-Wright in the fourth quarter worth $113,885,000. Public Employees Retirement Association of Colorado increased its holdings in shares of Curtiss-Wright by 1,901.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 150,377 shares of the aerospace company’s stock worth $33,502,000 after purchasing an additional 142,863 shares during the period. International Assets Investment Management LLC bought a new position in shares of Curtiss-Wright in the fourth quarter worth $31,816,000. Assenagon Asset Management S.A. bought a new position in shares of Curtiss-Wright in the fourth quarter worth $18,462,000. Finally, Cadinha & Co. LLC increased its stake in Curtiss-Wright by 1,101.1% in the fourth quarter. Cadinha & Co. LLC now owns 69,605 shares of the aerospace company’s stock valued at $15,507,000 after acquiring an additional 63,810 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Performance

NYSE CW opened at $272.58 on Thursday. The company has a 50-day simple moving average of $273.22 and a two-hundred day simple moving average of $248.52. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 0.40. Curtiss-Wright Co. has a 12-month low of $180.47 and a 12-month high of $286.65. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 28.07 and a beta of 1.18.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.24. The business had revenue of $713.17 million during the quarter, compared to analyst estimates of $664.01 million. Curtiss-Wright had a net margin of 12.78% and a return on equity of 16.79%. The company’s revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 earnings per share. On average, equities analysts forecast that Curtiss-Wright Co. will post 10.27 EPS for the current year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.21 per share. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, June 17th. Curtiss-Wright’s dividend payout ratio is currently 8.65%.

Insider Transactions at Curtiss-Wright

In other news, COO Kevin Rayment sold 8,415 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $281.67, for a total transaction of $2,370,253.05. Following the completion of the sale, the chief operating officer now directly owns 19,914 shares in the company, valued at $5,609,176.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Curtiss-Wright news, Director S Marce Fuller sold 5,300 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $281.04, for a total value of $1,489,512.00. Following the completion of the sale, the director now directly owns 25,770 shares in the company, valued at $7,242,400.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kevin Rayment sold 8,415 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $281.67, for a total transaction of $2,370,253.05. Following the completion of the sale, the chief operating officer now owns 19,914 shares of the company’s stock, valued at $5,609,176.38. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CW. Morgan Stanley increased their target price on Curtiss-Wright from $284.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. StockNews.com raised Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 5th. Robert W. Baird increased their target price on Curtiss-Wright from $246.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their target price on Curtiss-Wright from $293.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Finally, Truist Financial upped their price target on shares of Curtiss-Wright from $252.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $302.50.

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.