Burgundy Asset Management Ltd. Sells 690 Shares of Curtiss-Wright Co. (NYSE:CW)

Burgundy Asset Management Ltd. reduced its position in Curtiss-Wright Co. (NYSE:CW - Free Report) by 28.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,697 shares of the aerospace company's stock after selling 690 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in Curtiss-Wright were worth $602,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. lifted its stake in Curtiss-Wright by 0.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,319 shares of the aerospace company's stock worth $1,178,000 after acquiring an additional 29 shares during the period. Harbour Investments Inc. lifted its stake in Curtiss-Wright by 10.6% in the fourth quarter. Harbour Investments Inc. now owns 312 shares of the aerospace company's stock worth $111,000 after acquiring an additional 30 shares during the period. Cornerstone Investment Partners LLC lifted its stake in Curtiss-Wright by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 918 shares of the aerospace company's stock worth $326,000 after acquiring an additional 32 shares during the period. Baird Financial Group Inc. lifted its stake in Curtiss-Wright by 1.6% in the fourth quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company's stock worth $753,000 after acquiring an additional 34 shares during the period. Finally, GeoWealth Management LLC lifted its stake in Curtiss-Wright by 15.6% in the fourth quarter. GeoWealth Management LLC now owns 318 shares of the aerospace company's stock worth $113,000 after acquiring an additional 43 shares during the period. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP George P. Mcdonald sold 148 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $325.41, for a total value of $48,160.68. Following the transaction, the vice president now owns 1,899 shares in the company, valued at approximately $617,953.59. This represents a 7.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO K Christopher Farkas sold 922 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $325.47, for a total transaction of $300,083.34. Following the completion of the transaction, the chief financial officer now owns 14,033 shares in the company, valued at approximately $4,567,320.51. This trade represents a 6.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,642 shares of company stock worth $3,581,107 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Curtiss-Wright Stock Performance

CW opened at $415.48 on Friday. Curtiss-Wright Co. has a 52-week low of $258.85 and a 52-week high of $423.77. The company has a quick ratio of 1.19, a current ratio of 1.69 and a debt-to-equity ratio of 0.39. The company has a market cap of $15.65 billion, a P/E ratio of 39.38, a price-to-earnings-growth ratio of 2.48 and a beta of 1.04. The firm's 50-day moving average price is $342.93 and its 200-day moving average price is $348.92.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. The firm had revenue of $805.65 million for the quarter, compared to the consensus estimate of $767.32 million. During the same quarter in the prior year, the company posted $1.99 earnings per share. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts anticipate that Curtiss-Wright Co. will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 0.23%. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.21. Curtiss-Wright's dividend payout ratio is 8.54%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CW shares. Citigroup lowered their price objective on shares of Curtiss-Wright from $450.00 to $424.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Robert W. Baird increased their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a research report on Thursday. Stifel Nicolaus decreased their price target on shares of Curtiss-Wright from $331.00 to $309.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Truist Financial decreased their price target on shares of Curtiss-Wright from $357.00 to $338.00 and set a "hold" rating for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen raised shares of Curtiss-Wright from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $404.29.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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