Arbejdsmarkedets Tillaegspension Sells 6,996 Shares of Curtiss-Wright Corporation $CW

Key Points

• Arbejdsmarkedets Tillaegspension reduced its Curtiss-Wright stake by 16.2% in the first quarter, selling 6,996 shares and ending with 36,153 shares valued at about $24.6 million.
• Several other institutional investors also adjusted positions in Curtiss-Wright (NYSE:CW), and hedge funds and institutions now own about 82.71% of the stock.
• Analysts remain mixed but constructive on the aerospace company, with an average rating of “Moderate Buy” and an average price target of $749.67; the company also recently beat quarterly earnings and revenue estimates.

Arbejdsmarkedets Tillaegspension lessened its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 16.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 36,153 shares of the aerospace company's stock after selling 6,996 shares during the period. Arbejdsmarkedets Tillaegspension owned 0.10% of Curtiss-Wright worth $24,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in shares of Curtiss-Wright by 10.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company's stock valued at $67,611,000 after acquiring an additional 20,379 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Curtiss-Wright in the 2nd quarter valued at about $235,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Curtiss-Wright by 53.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company's stock valued at $49,000 after acquiring an additional 35 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Curtiss-Wright in the 2nd quarter valued at approximately $5,423,000. Finally, Cresset Asset Management LLC raised its position in shares of Curtiss-Wright by 46.4% in the 2nd quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company's stock valued at $705,000 after acquiring an additional 457 shares during the period. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 1st. Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings lowered shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Finally, Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Curtiss-Wright presently has an average rating of "Moderate Buy" and an average target price of $749.67.

Insider Transactions at Curtiss-Wright

In other news, VP Gary A. Ogilby sold 399 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 dated 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 of the company's stock, valued at approximately $2,983,029.42. The trade was a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 three months. Company insiders own 0.51% of the company's stock.

Curtiss-Wright Price Performance

Shares of CW opened at $741.27 on Tuesday. The stock has a 50 day simple moving average of $746.15 and a 200 day simple moving average of $696.62. Curtiss-Wright Corporation has a 52-week low of $463.00 and a 52-week high of $808.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52. The firm has a market capitalization of $27.38 billion, a PE ratio of 54.31, a P/E/G ratio of 3.47 and a beta of 0.86.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping the consensus estimate of $3.32 by $0.16. The firm had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company posted $2.82 EPS. Sell-side analysts predict that Curtiss-Wright Corporation will post 15.18 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

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

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.

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