Vanguard Group Inc. Trims Stake in Curtiss-Wright Corporation $CW

Vanguard Group Inc. cut its holdings in Curtiss-Wright Corporation (NYSE:CW) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,597,361 shares of the aerospace company’s stock after selling 24,390 shares during the period. Vanguard Group Inc. owned 9.55% of Curtiss-Wright worth $1,953,151,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Curtiss-Wright by 3.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,218 shares of the aerospace company’s stock worth $100,567,000 after purchasing an additional 7,022 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Curtiss-Wright by 5.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 12,575 shares of the aerospace company’s stock worth $6,827,000 after buying an additional 621 shares during the period. HighTower Advisors LLC lifted its position in shares of Curtiss-Wright by 44.0% during the 3rd quarter. HighTower Advisors LLC now owns 16,448 shares of the aerospace company’s stock valued at $8,931,000 after buying an additional 5,029 shares in the last quarter. Long Island Wealth Management Inc. bought a new position in shares of Curtiss-Wright during the 3rd quarter valued at approximately $220,000. Finally, Illinois Municipal Retirement Fund increased its holdings in Curtiss-Wright by 0.8% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 6,178 shares of the aerospace company’s stock worth $3,354,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup lifted their price target on shares of Curtiss-Wright from $661.00 to $718.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $760.00 target price on shares of Curtiss-Wright in a report on Friday, February 13th. Stifel Nicolaus raised their price target on Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $748.00 price objective on shares of Curtiss-Wright in a research note on Tuesday. Finally, Wall Street Zen raised Curtiss-Wright from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Curtiss-Wright presently has an average rating of “Moderate Buy” and a consensus price target of $663.17.

Insider Activity at Curtiss-Wright

In other news, CFO K Christopher Farkas sold 2,665 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total value of $1,669,169.45. Following the completion of the sale, the chief financial officer owned 7,358 shares in the company, valued at approximately $4,608,536.14. This trade represents a 26.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kevin Rayment sold 2,634 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total value of $1,649,753.22. Following the transaction, the chief operating officer owned 29,896 shares of the company’s stock, valued at $18,724,761.68. This trade represents a 8.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,269 shares of company stock valued at $10,797,098 over the last ninety days. 0.55% of the stock is currently owned by company insiders.

Curtiss-Wright Stock Up 1.6%

Shares of CW opened at $701.62 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 1.00. The stock has a market capitalization of $25.87 billion, a price-to-earnings ratio of 54.52, a price-to-earnings-growth ratio of 3.06 and a beta of 0.93. Curtiss-Wright Corporation has a 1 year low of $266.88 and a 1 year high of $709.99. The business’s 50 day simple moving average is $618.63 and its 200-day simple moving average is $561.61.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.13. Curtiss-Wright had a net margin of 13.84% and a return on equity of 19.28%. The company had revenue of $946.98 million for the quarter, compared to analysts’ expectations of $890.14 million. During the same quarter in the previous year, the business posted $3.27 earnings per share. Curtiss-Wright’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, equities analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 26th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 7.46%.

About Curtiss-Wright

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.