ArrowMark Colorado Holdings LLC Cuts Holdings in Curtiss-Wright Corporation $CW

Key Points

• ArrowMark Colorado Holdings trimmed its stake in Curtiss‑Wright by 4.5% in Q3, selling 5,817 shares to hold 124,134 shares worth about $67.40 million, which is ~0.34% of the company and 1.3% of ArrowMark's portfolio (its 21st largest position).
• Curtiss‑Wright beat estimates with quarterly EPS of $3.79 vs. $3.66 expected and revenue of $946.98 million (up 14.9% YoY); analysts have a consensus "Moderate Buy" rating with a price target of $663.17.
• Insider selling totaled 17,269 shares (~$10.8 million) over the last three months while institutional investors own 82.71% of the stock, and the company declared a quarterly dividend of $0.24 (annualized $0.96, yield ~0.1%).

ArrowMark Colorado Holdings LLC trimmed its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 4.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 124,134 shares of the aerospace company's stock after selling 5,817 shares during the period. Curtiss-Wright comprises 1.3% of ArrowMark Colorado Holdings LLC's investment portfolio, making the stock its 21st biggest position. ArrowMark Colorado Holdings LLC owned approximately 0.34% of Curtiss-Wright worth $67,397,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Curtiss-Wright in the 3rd quarter valued at $2,781,000. Edmond DE Rothschild Holding S.A. raised its stake in shares of Curtiss-Wright by 108.0% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,336 shares of the aerospace company's stock worth $1,141,000 after purchasing an additional 1,213 shares during the period. Inscription Capital LLC boosted its holdings in shares of Curtiss-Wright by 248.3% in the 3rd quarter. Inscription Capital LLC now owns 2,553 shares of the aerospace company's stock worth $1,386,000 after buying an additional 1,820 shares during the last quarter. Creative Planning grew its position in Curtiss-Wright by 30.4% during the second quarter. Creative Planning now owns 5,572 shares of the aerospace company's stock valued at $2,722,000 after buying an additional 1,300 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Curtiss-Wright by 3.9% during the third quarter. JPMorgan Chase & Co. now owns 185,218 shares of the aerospace company's stock valued at $100,567,000 after buying an additional 7,022 shares during the period. Hedge funds and other institutional investors own 82.71% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $748.00 price objective on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Stifel Nicolaus increased their target price on shares of Curtiss-Wright from $625.00 to $650.00 and gave the company a "hold" rating in a research report on Friday, February 13th. Morgan Stanley reaffirmed an "overweight" rating and issued a $760.00 price target on shares of Curtiss-Wright in a report on Friday, February 13th. Weiss Ratings reiterated a "buy (b)" rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Finally, Wall Street Zen raised Curtiss-Wright from a "hold" rating to a "buy" rating in a report on Saturday, January 10th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Curtiss-Wright currently has an average rating of "Moderate Buy" and a consensus price target of $663.17.

Curtiss-Wright Stock Down 3.8%

CW stock opened at $654.64 on Friday. The company's 50 day moving average is $663.82 and its 200 day moving average is $585.39. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 50.87, a price-to-earnings-growth ratio of 3.20 and a beta of 0.91. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $730.12.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.13. Curtiss-Wright had a net margin of 13.84% and a return on equity of 19.28%. The business had revenue of $946.98 million during the quarter, compared to analyst estimates of $890.14 million. During the same period in the previous year, the business posted $3.27 earnings per share. Curtiss-Wright's revenue for the quarter was up 14.9% on a year-over-year basis. Sell-side analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, March 26th. Curtiss-Wright's payout ratio is currently 7.46%.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, VP Gary A. Ogilby sold 625 shares of the firm's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $624.32, for a total transaction of $390,200.00. Following the sale, the vice president owned 2,571 shares in the company, valued at $1,605,126.72. This trade represents a 19.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert F. Freda sold 418 shares of Curtiss-Wright stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $626.95, for a total value of $262,065.10. Following the sale, the vice president directly owned 5,187 shares of the company's stock, valued at approximately $3,251,989.65. This trade represents a 7.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,269 shares of company stock worth $10,797,098 in the last three months. 0.55% of the stock is owned by insiders.

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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