Bessemer Group Inc. Has $18 Million Stock Position in Curtiss-Wright Co. (NYSE:CW)

Bessemer Group Inc. grew its position in Curtiss-Wright Co. (NYSE:CW) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,349 shares of the aerospace company’s stock after buying an additional 4,584 shares during the quarter. Bessemer Group Inc.’s holdings in Curtiss-Wright were worth $18,004,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CW. Raymond James & Associates lifted its position in shares of Curtiss-Wright by 2.4% in the fourth quarter. Raymond James & Associates now owns 45,520 shares of the aerospace company’s stock worth $10,141,000 after purchasing an additional 1,086 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Curtiss-Wright by 71.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,994 shares of the aerospace company’s stock valued at $1,558,000 after acquiring an additional 2,924 shares in the last quarter. Portside Wealth Group LLC bought a new position in Curtiss-Wright during the fourth quarter valued at approximately $204,000. Pacer Advisors Inc. raised its position in Curtiss-Wright by 92.5% during the fourth quarter. Pacer Advisors Inc. now owns 8,235 shares of the aerospace company’s stock valued at $1,835,000 after acquiring an additional 3,957 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its position in Curtiss-Wright by 8.1% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 81,409 shares of the aerospace company’s stock valued at $18,137,000 after acquiring an additional 6,120 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Curtiss-Wright news, Director S Marce Fuller sold 5,300 shares of Curtiss-Wright stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $281.04, for a total transaction of $1,489,512.00. Following the sale, the director now owns 25,770 shares in the company, valued at $7,242,400.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director S Marce Fuller sold 5,300 shares of the business’s stock in a transaction on 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 sale, the director now owns 25,770 shares in the company, valued at approximately $7,242,400.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kevin Rayment sold 8,415 shares of the business’s stock in a transaction on 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 owns 19,914 shares in the company, valued at approximately $5,609,176.38. The disclosure for this sale can be found here. Insiders have acquired 120 shares of company stock worth $27,914 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of NYSE:CW traded up $2.53 during trading on Thursday, reaching $281.74. The stock had a trading volume of 20,237 shares, compared to its average volume of 202,118. The stock has a fifty day simple moving average of $276.63 and a two-hundred day simple moving average of $254.65. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 28.74 and a beta of 1.18. 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 52 week low of $188.71 and a 52 week high of $288.44.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.24. The business had revenue of $713.17 million for the quarter, compared to the consensus estimate of $664.01 million. Curtiss-Wright had a net margin of 12.78% and a return on equity of 16.79%. Curtiss-Wright’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company posted $1.53 earnings per share. As a group, analysts anticipate that Curtiss-Wright Co. will post 10.25 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Monday, June 17th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.84 dividend on an annualized basis and a yield of 0.30%. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.20. Curtiss-Wright’s payout ratio is currently 8.65%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CW. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $310.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Truist Financial raised their price objective 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. StockNews.com lowered shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 18th. Morgan Stanley lifted their price target on shares of Curtiss-Wright from $284.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, Robert W. Baird lifted their price target on shares of Curtiss-Wright from $246.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $304.50.

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.