Amundi Grows Stake in Curtiss-Wright Corporation $CW

Key Points

• Amundi significantly increased its Curtiss-Wright stake by 670.5% in the first quarter, acquiring 91,164 additional shares and bringing its holdings to 104,761 shares valued at approximately $71.4 million. Institutional investors collectively own 82.71% of the company.
• Curtiss-Wright reported quarterly earnings of $3.48 per share, exceeding estimates of $3.32, while revenue rose 13.4% year over year to $913.69 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $773.67.
• Company insiders sold 3,119 shares worth about $2.26 million during the last quarter, including sales by the CEO and an executive vice president. The company also declared a quarterly dividend of $0.24 per share, equivalent to a 0.1% yield.

Amundi raised its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 670.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,761 shares of the aerospace company's stock after buying an additional 91,164 shares during the quarter. Amundi owned about 0.28% of Curtiss-Wright worth $71,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CW. Cary Street Partners Investment Advisory LLC bought a new stake in Curtiss-Wright in the fourth quarter valued at $31,000. Larson Financial Group LLC increased its position in shares of Curtiss-Wright by 53.8% during the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock valued at $33,000 after buying an additional 21 shares during the period. Transamerica Financial Advisors LLC raised its stake in Curtiss-Wright by 25.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after buying an additional 15 shares in the last quarter. Signature Equity Partners LLC raised its stake in Curtiss-Wright by 140.0% in the first quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company's stock worth $41,000 after buying an additional 35 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Curtiss-Wright in the fourth quarter worth about $42,000. Institutional investors own 82.71% of the company's stock.

Insider Buying and Selling

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,500 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 48,134 shares in the company, valued at approximately $34,739,270.48. This trade represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Curtiss-Wright stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the completion of the transaction, the executive vice president directly owned 3,962 shares of the company's stock, valued at $2,983,029.42. This trade represents a 5.26% decrease in their ownership of the stock. 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 have sold a total of 3,119 shares of company stock worth $2,257,998 in the last quarter. Corporate insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CW. Stifel Nicolaus upped their target price on Curtiss-Wright from $724.00 to $768.00 and gave the stock a "hold" rating in a report on Monday, July 20th. Citigroup raised their target price on Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a research note on Wednesday, July 1st. Weiss Ratings raised Curtiss-Wright from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 23rd. Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a report on Friday, May 8th. Finally, Morgan Stanley reissued an "overweight" rating and set a $860.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $773.67.

Curtiss-Wright Stock Performance

Shares of CW opened at $725.11 on Friday. 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 business's 50 day moving average price is $745.76 and its 200-day moving average price is $710.91. Curtiss-Wright Corporation has a 52 week low of $464.91 and a 52 week high of $808.16. The stock has a market cap of $26.79 billion, a P/E ratio of 53.12, a P/E/G ratio of 3.32 and a beta of 0.86.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating analysts' consensus estimates of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The company had revenue of $913.69 million during the quarter, compared to analyst estimates of $863.83 million. During the same quarter last year, the company earned $2.82 EPS. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. Equities research analysts anticipate that Curtiss-Wright Corporation will post 15.22 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

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