Rice Hall James & Associates LLC reduced its stake in Curtiss-Wright Corporation (NYSE:CW – Free Report) by 26.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,300 shares of the aerospace company’s stock after selling 846 shares during the period. Rice Hall James & Associates LLC’s holdings in Curtiss-Wright were worth $1,268,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC bought a new position in Curtiss-Wright in the 4th quarter worth about $31,000. Larson Financial Group LLC grew its stake in Curtiss-Wright by 53.8% in the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 21 shares in the last quarter. Transamerica Financial Advisors LLC boosted its stake in shares of Curtiss-Wright by 25.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $40,000 after purchasing an additional 15 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of Curtiss-Wright during the fourth quarter valued at approximately $43,000. Finally, Sunbelt Securities Inc. bought a new position in shares of Curtiss-Wright during the third quarter valued at approximately $43,000. 82.71% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on CW shares. 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, February 17th. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Wednesday, May 13th. Finally, Citigroup increased their price objective on shares of Curtiss-Wright from $728.00 to $775.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Curtiss-Wright presently has a consensus rating of “Moderate Buy” and a consensus price target of $746.67.
Insider Activity at Curtiss-Wright
In related news, EVP John C. Watts sold 220 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the completion of the sale, the executive vice president owned 3,962 shares of the company’s stock, valued at $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the sale, the chief executive officer directly owned 48,134 shares of the company’s stock, valued at $34,739,270.48. The trade was a 4.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,119 shares of company stock valued at $2,257,998 over the last 90 days. Insiders own 0.51% of the company’s stock.
Curtiss-Wright Trading Up 0.3%
NYSE:CW opened at $764.74 on Wednesday. Curtiss-Wright Corporation has a 52 week low of $458.74 and a 52 week high of $779.70. The firm has a 50 day moving average of $729.66 and a 200 day moving average of $668.14. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $28.25 billion, a price-to-earnings ratio of 56.02, a PEG ratio of 3.54 and a beta of 0.85.
Curtiss-Wright (NYSE:CW – Get Free Report) last posted its earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The company had revenue of $913.69 million during the quarter, compared to analysts’ expectations of $863.83 million. During the same quarter in the prior year, the company posted $2.82 earnings per share. Curtiss-Wright’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Curtiss-Wright Corporation will post 15.15 earnings per share for the current fiscal year.
Curtiss-Wright Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio is presently 7.62%.
Curtiss-Wright Company 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.
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