Lazard Asset Management LLC Sells 61,797 Shares of Curtiss-Wright Corporation $CW

Lazard Asset Management LLC lessened its stake in Curtiss-Wright Corporation (NYSE:CW) by 41.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,986 shares of the aerospace company’s stock after selling 61,797 shares during the quarter. Lazard Asset Management LLC owned approximately 0.24% of Curtiss-Wright worth $60,610,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CW. CWM LLC raised its holdings in shares of Curtiss-Wright by 75.8% in the 4th quarter. CWM LLC now owns 18,425 shares of the aerospace company’s stock valued at $10,157,000 after purchasing an additional 7,944 shares during the period. Pacer Advisors Inc. grew its holdings in Curtiss-Wright by 114.8% during the fourth quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company’s stock worth $5,931,000 after purchasing an additional 5,749 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Curtiss-Wright during the fourth quarter worth approximately $1,104,000. Northwestern Mutual Wealth Management Co. increased its position in Curtiss-Wright by 39,282.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,587 shares of the aerospace company’s stock worth $35,605,000 after buying an additional 64,423 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Curtiss-Wright in the fourth quarter valued at approximately $51,089,000. 82.71% of the stock is owned by institutional investors.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the transaction, the vice president directly owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the transaction, the executive vice president owned 3,962 shares in the company, valued at $2,983,029.42. The trade was a 5.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,119 shares of company stock valued at $2,257,998 in the last ninety days. 0.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CW has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Citigroup boosted their target price on Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Robert W. Baird set a $870.00 price target on Curtiss-Wright in a report on Friday, May 8th. Weiss Ratings raised shares of Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Finally, Stifel Nicolaus upped their price objective on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and a consensus target price of $773.67.

Curtiss-Wright Trading Down 0.9%

Shares of CW stock opened at $743.30 on Tuesday. Curtiss-Wright Corporation has a 12-month low of $464.91 and a 12-month high of $808.16. The company has a market capitalization of $27.46 billion, a PE ratio of 54.45, a price-to-earnings-growth ratio of 3.44 and a beta of 0.86. The firm has a 50 day moving average price of $746.51 and a two-hundred day moving average price of $708.31. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating the consensus estimate of $3.32 by $0.16. The company had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. As a group, analysts predict that Curtiss-Wright Corporation will post 15.22 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were paid a $0.24 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright’s payout ratio is 7.62%.

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.