Cresset Asset Management LLC Decreases Stake in Curtiss-Wright Co. (NYSE:CW)

Cresset Asset Management LLC cut its holdings in Curtiss-Wright Co. (NYSE:CW) by 66.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,656 shares of the aerospace company’s stock after selling 3,273 shares during the quarter. Cresset Asset Management LLC’s holdings in Curtiss-Wright were worth $588,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CW. YANKCOM Partnership purchased a new stake in Curtiss-Wright during the fourth quarter worth $31,000. Ancora Advisors LLC purchased a new stake in Curtiss-Wright during the fourth quarter worth $49,000. UMB Bank n.a. boosted its position in Curtiss-Wright by 61.0% during the fourth quarter. UMB Bank n.a. now owns 169 shares of the aerospace company’s stock worth $60,000 after purchasing an additional 64 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in Curtiss-Wright during the fourth quarter worth $70,000. Finally, Smartleaf Asset Management LLC boosted its position in Curtiss-Wright by 85.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 228 shares of the aerospace company’s stock worth $82,000 after purchasing an additional 105 shares in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup decreased their target price on Curtiss-Wright from $450.00 to $424.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus decreased their target price on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Truist Financial reduced their price objective on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $377.43.

Insider Activity at Curtiss-Wright

In related news, CFO K Christopher Farkas sold 4,780 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $350.00, for a total value of $1,673,000.00. Following the completion of the transaction, the chief financial officer now directly owns 9,253 shares in the company, valued at approximately $3,238,550. This represents a 34.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP George P. Mcdonald sold 148 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $325.41, for a total value of $48,160.68. Following the completion of the transaction, the vice president now owns 1,899 shares of the company’s stock, valued at $617,953.59. The trade was a 7.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,642 shares of company stock worth $3,581,107. 0.55% of the stock is currently owned by insiders.

Curtiss-Wright Stock Up 2.0%

Shares of NYSE:CW opened at $395.27 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.69 and a debt-to-equity ratio of 0.39. Curtiss-Wright Co. has a 52-week low of $258.85 and a 52-week high of $399.25. The stock’s fifty day simple moving average is $329.39 and its 200-day simple moving average is $345.89. The company has a market capitalization of $14.89 billion, a P/E ratio of 37.47, a P/E/G ratio of 2.48 and a beta of 1.04.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a return on equity of 17.11% and a net margin of 12.98%. The business had revenue of $805.65 million for the quarter, compared to the consensus estimate of $767.32 million. During the same period in the prior year, the business earned $1.99 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts forecast that Curtiss-Wright Co. will post 12.32 earnings per share for the current fiscal year.

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.