State of New Jersey Common Pension Fund D Has $3.29 Million Position in Curtiss-Wright Co. (NYSE:CW)

State of New Jersey Common Pension Fund D reduced its position in shares of Curtiss-Wright Co. (NYSE:CW) by 40.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,145 shares of the aerospace company’s stock after selling 8,236 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Curtiss-Wright were worth $3,291,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in Curtiss-Wright by 5,050.0% during the second quarter. Versant Capital Management Inc now owns 103 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 101 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new stake in Curtiss-Wright during the second quarter worth about $30,000. EverSource Wealth Advisors LLC raised its holdings in Curtiss-Wright by 1,933.3% during the first quarter. EverSource Wealth Advisors LLC now owns 122 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 116 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in Curtiss-Wright during the fourth quarter worth about $32,000. Finally, Sachetta LLC bought a new stake in Curtiss-Wright during the fourth quarter worth about $45,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on CW. StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 12th. Morgan Stanley upped their target price on Curtiss-Wright from $284.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Truist Financial upped their price objective on Curtiss-Wright from $252.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Robert W. Baird upped their price objective on Curtiss-Wright from $300.00 to $312.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus upped their price objective on Curtiss-Wright from $310.00 to $318.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $307.50.

Insider Activity

In other news, Director Glenda J. Minor sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $302.80, for a total value of $151,400.00. Following the transaction, the director now owns 1,382 shares of the company’s stock, valued at $418,469.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have bought 120 shares of company stock valued at $27,914. 0.67% of the stock is owned by insiders.

Curtiss-Wright Price Performance

Curtiss-Wright stock opened at $315.32 on Wednesday. Curtiss-Wright Co. has a 12 month low of $190.64 and a 12 month high of $318.20. The stock’s 50 day moving average is $293.09 and its 200-day moving average is $273.44. The company has a current ratio of 2.05, a quick ratio of 1.42 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 32.47 and a beta of 1.18.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Wednesday, August 7th. The aerospace company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.24 by $0.43. Curtiss-Wright had a return on equity of 17.07% and a net margin of 13.05%. The company had revenue of $785.00 million for the quarter, compared to the consensus estimate of $735.82 million. During the same quarter in the prior year, the business earned $2.15 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts expect that Curtiss-Wright Co. will post 10.55 EPS for the current year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Friday, September 27th. Curtiss-Wright’s payout ratio is 8.65%.

About Curtiss-Wright

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.