Curtiss-Wright Corporation $CW Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. reduced its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 56.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 818 shares of the aerospace company’s stock after selling 1,052 shares during the period. Shell Asset Management Co.’s holdings in Curtiss-Wright were worth $444,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CW. Massachusetts Financial Services Co. MA purchased a new position in Curtiss-Wright in the 2nd quarter worth $270,731,000. Norges Bank acquired a new position in shares of Curtiss-Wright in the second quarter valued at about $241,537,000. Munro Partners acquired a new position in shares of Curtiss-Wright in the second quarter valued at about $78,000,000. AQR Capital Management LLC raised its stake in shares of Curtiss-Wright by 45.8% in the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock worth $189,468,000 after purchasing an additional 122,048 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Curtiss-Wright by 21.0% during the second quarter. American Century Companies Inc. now owns 340,007 shares of the aerospace company’s stock worth $166,110,000 after purchasing an additional 59,003 shares during the period. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Performance

NYSE CW opened at $687.99 on Wednesday. The stock has a market capitalization of $25.37 billion, a price-to-earnings ratio of 53.46, a PEG ratio of 3.06 and a beta of 0.93. The stock has a 50-day moving average of $613.29 and a 200 day moving average of $559.71. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $709.99.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Wednesday, February 11th. The aerospace company reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.13. The business had revenue of $946.98 million during the quarter, compared to analysts’ expectations of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The business’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.27 earnings per share. Sell-side analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio is currently 7.46%.

Insider Buying and Selling at Curtiss-Wright

In other news, CFO K Christopher Farkas sold 2,665 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,669,169.45. Following the completion of the sale, the chief financial officer owned 7,358 shares of the company’s stock, valued at $4,608,536.14. The trade was a 26.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Lynn M. Bamford sold 9,327 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.45, for a total transaction of $5,842,899.15. Following the completion of the transaction, the chief executive officer directly owned 46,192 shares in the company, valued at $28,936,978.40. This represents a 16.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 17,269 shares of company stock valued at $10,797,098. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CW shares. Stifel Nicolaus increased their price target on shares of Curtiss-Wright from $625.00 to $650.00 and gave the stock a “hold” rating in a report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Morgan Stanley restated an “overweight” rating and set a $760.00 target price on shares of Curtiss-Wright in a research report on Friday. Truist Financial set a $603.00 price target on Curtiss-Wright in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $748.00 price objective on shares of Curtiss-Wright in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Curtiss-Wright has an average rating of “Moderate Buy” and an average target price of $663.17.

Curtiss-Wright Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.