Bessemer Group Inc. Buys 1,522 Shares of Curtiss-Wright Corporation $CW

Key Points

• Bessemer Group increased its Curtiss-Wright stake by 3.9% in the first quarter, buying 1,522 additional shares and bringing its holdings to 40,109 shares worth about $27.3 million.
• Curtiss-Wright reported stronger-than-expected quarterly results, with EPS of $3.48 versus the $3.32 consensus and revenue of $913.69 million, up 13.4% year over year.
• Insiders sold shares recently, including CEO Lynn M. Bamford and VP Gary A. Ogilby, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $766.33.

Bessemer Group Inc. grew its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,109 shares of the aerospace company's stock after purchasing an additional 1,522 shares during the quarter. Bessemer Group Inc. owned about 0.11% of Curtiss-Wright worth $27,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CW. Cary Street Partners Investment Advisory LLC bought a new position in shares of Curtiss-Wright in the fourth quarter valued at $31,000. Larson Financial Group LLC raised its position in Curtiss-Wright by 53.8% during the third 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 raised its position in Curtiss-Wright by 25.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after acquiring an additional 15 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Curtiss-Wright in the fourth quarter valued at $42,000. Finally, Elyxium Wealth LLC bought a new position in shares of Curtiss-Wright in the 4th quarter valued at about $43,000. Institutional investors own 82.71% of the company's stock.

Curtiss-Wright Trading Down 1.0%

CW stock opened at $708.83 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The company has a fifty day moving average price of $746.21 and a two-hundred day moving average price of $700.32. Curtiss-Wright Corporation has a one year low of $463.00 and a one year high of $808.16. The stock has a market cap of $26.18 billion, a price-to-earnings ratio of 51.93, a price-to-earnings-growth ratio of 3.24 and a beta of 0.86.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.16. The company had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The company's revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.82 earnings per share. Equities analysts anticipate that Curtiss-Wright Corporation will post 15.23 EPS for the current year.

Curtiss-Wright Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Citigroup raised their target price on shares of 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 cut Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Morgan Stanley reissued an "overweight" rating and set a $860.00 price target on shares of Curtiss-Wright in a research report on Wednesday. Finally, Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Curtiss-Wright currently has a consensus rating of "Moderate Buy" and a consensus price target of $766.33.

Insider Buying and Selling at Curtiss-Wright

In other news, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the transaction, the chief executive officer owned 48,134 shares in the company, valued at approximately $34,739,270.48. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the sale, the vice president directly owned 2,172 shares of the company's stock, valued at approximately $1,568,075.40. The trade was a 15.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 valued at $2,257,998 in the last three months. 0.51% of the stock is currently owned by company insiders.

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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