BI Asset Management Fondsmaeglerselskab A S Sells 1,486 Shares of Curtiss-Wright Corporation $CW

Key Points

• BI Asset Management reduced its Curtiss-Wright position by 29% in the fourth quarter, selling 1,486 shares and leaving it with 3,636 shares valued at about $2.0 million.
• Curtiss-Wright reported strong quarterly results, with EPS of $3.48 beating estimates and revenue of $913.69 million topping forecasts; revenue also rose 13.4% year over year.
• Wall Street remains generally positive, with a Moderate Buy consensus and an average price target of $746.67, while the company also declared a quarterly dividend of $0.24 per share.

BI Asset Management Fondsmaeglerselskab A S trimmed its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,636 shares of the aerospace company's stock after selling 1,486 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Curtiss-Wright were worth $2,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CW. SG Americas Securities LLC grew its stake in Curtiss-Wright by 738.8% in the 4th quarter. SG Americas Securities LLC now owns 26,003 shares of the aerospace company's stock valued at $14,335,000 after buying an additional 22,903 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Curtiss-Wright in the 3rd quarter valued at about $37,812,000. Grove Bank & Trust acquired a new position in Curtiss-Wright in the 4th quarter valued at about $1,104,000. Fisher Asset Management LLC grew its position in shares of Curtiss-Wright by 7.2% during the 3rd quarter. Fisher Asset Management LLC now owns 120,535 shares of the aerospace company's stock worth $65,443,000 after purchasing an additional 8,095 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Curtiss-Wright by 3.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,218 shares of the aerospace company's stock worth $100,567,000 after purchasing an additional 7,022 shares in the last quarter. 82.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Weiss Ratings restated a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Citigroup increased their target price on shares of Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Morgan Stanley restated an "overweight" rating and set a $760.00 target price on shares of Curtiss-Wright in a research report on Friday, February 13th. Finally, Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $746.67.

Curtiss-Wright Stock Performance

NYSE CW opened at $720.12 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $26.60 billion, a price-to-earnings ratio of 52.76, a P/E/G ratio of 3.40 and a beta of 0.85. The firm's 50 day simple moving average is $721.01 and its 200 day simple moving average is $659.59. Curtiss-Wright Corporation has a 1 year low of $443.00 and a 1 year high of $760.72.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.16. The business 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 firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $2.82 EPS. As a group, research analysts expect that Curtiss-Wright Corporation will post 15.15 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright's dividend payout ratio (DPR) is currently 7.03%.

Insiders Place Their Bets

In related news, CFO K Christopher Farkas sold 918 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $677.46, for a total value of $621,908.28. Following the completion of the transaction, the chief financial officer owned 5,518 shares of the company's stock, valued at $3,738,224.28. This represents a 14.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John C. Watts sold 220 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were 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 approximately $2,983,029.42. The trade was a 5.26% decrease in their position. 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 6,181 shares of company stock worth $4,204,919 over the last 90 days. Insiders own 0.51% of the company's stock.

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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