Brown Advisory Inc. Sells 47,968 Shares of Curtiss-Wright Corporation $CW

Key Points

• Brown Advisory Inc. cut its Curtiss-Wright stake by 23.9% in Q4, selling 47,968 shares and leaving it with 152,407 shares valued at about $84.0 million.
• Several other institutions also adjusted holdings, and 82.71% of Curtiss-Wright is owned by institutional investors. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average target price of $746.67.
• Recent company performance was solid: Curtiss-Wright reported $3.48 EPS and $913.69 million in revenue, both above expectations, while the board also declared a quarterly dividend of $0.24 per share.

Brown Advisory Inc. reduced its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 23.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 152,407 shares of the aerospace company's stock after selling 47,968 shares during the quarter. Brown Advisory Inc. owned 0.41% of Curtiss-Wright worth $84,018,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC bought a new position in shares of Curtiss-Wright during the 4th quarter valued at approximately $31,000. Larson Financial Group LLC grew its stake in shares of Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock valued at $33,000 after acquiring an additional 21 shares during the period. Transamerica Financial Advisors LLC grew its stake in shares of Curtiss-Wright by 25.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock valued at $40,000 after acquiring an additional 15 shares during the period. Elyxium Wealth LLC bought a new position in shares of Curtiss-Wright during the 4th quarter valued at approximately $43,000. Finally, Sunbelt Securities Inc. bought a new position in shares of Curtiss-Wright during the 3rd quarter valued at approximately $43,000. 82.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $748.00 price target on shares of Curtiss-Wright in a report on Tuesday, February 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Stifel Nicolaus set a $724.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Citigroup upped their price objective on Curtiss-Wright from $728.00 to $775.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Finally, Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Curtiss-Wright currently has an average rating of "Moderate Buy" and a consensus target price of $746.67.

Insider Activity

In related news, CFO K Christopher Farkas sold 918 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $677.46, for a total transaction of $621,908.28. Following the sale, the chief financial officer directly owned 5,518 shares of the company's stock, valued at $3,738,224.28. This trade represents a 14.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kevin Rayment sold 907 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $677.38, for a total value of $614,383.66. Following the sale, the chief operating officer directly owned 31,493 shares in the company, valued at approximately $21,332,728.34. This trade represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,080 shares of company stock valued at $6,297,278 over the last 90 days. Company insiders own 0.51% of the company's stock.

Curtiss-Wright Price Performance

Shares of CW stock opened at $758.19 on Monday. Curtiss-Wright Corporation has a 1-year low of $458.74 and a 1-year high of $768.65. The stock's 50-day moving average is $726.95 and its 200 day moving average is $665.26. The company has a market cap of $28.01 billion, a P/E ratio of 55.54, a PEG ratio of 3.51 and a beta of 0.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS 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 analysts' expectations of $863.83 million. During the same period last year, the business posted $2.82 earnings per share. The firm's revenue was up 13.4% compared to the same quarter last year. Research analysts predict that Curtiss-Wright Corporation will post 15.15 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

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

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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