Burney Co. trimmed its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 16.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,531 shares of the aerospace company's stock after selling 2,868 shares during the quarter. Burney Co.'s holdings in Curtiss-Wright were worth $9,897,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC boosted its position in shares of Curtiss-Wright by 25.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after purchasing an additional 15 shares during the period. IFP Advisors Inc raised its position in shares of Curtiss-Wright by 2.3% during the 4th quarter. IFP Advisors Inc now owns 698 shares of the aerospace company's stock valued at $385,000 after purchasing an additional 16 shares during the period. Summit Financial LLC raised its position in shares of Curtiss-Wright by 2.3% during the 4th quarter. Summit Financial LLC now owns 697 shares of the aerospace company's stock valued at $384,000 after purchasing an additional 16 shares during the period. Mayflower Financial Advisors LLC raised its position in shares of Curtiss-Wright by 2.9% during the 4th quarter. Mayflower Financial Advisors LLC now owns 611 shares of the aerospace company's stock valued at $337,000 after purchasing an additional 17 shares during the period. Finally, VestGen Investment Management lifted its stake in shares of Curtiss-Wright by 0.9% during the 4th quarter. VestGen Investment Management now owns 1,870 shares of the aerospace company's stock valued at $1,031,000 after buying an additional 17 shares in the last quarter. Institutional investors own 82.71% of the company's stock.
Insider Transactions at Curtiss-Wright
In related news, CEO Lynn M. Bamford sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the sale, the chief executive officer directly owned 48,134 shares in the company, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total value of $288,058.05. Following the transaction, 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. Over the last three months, insiders have sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
CW has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a report on Wednesday, July 1st. Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a report on Friday, May 8th. Weiss Ratings lowered Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday. Finally, Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, Curtiss-Wright presently has an average rating of "Moderate Buy" and an average target price of $749.67.
Check Out Our Latest Research Report on CW
Curtiss-Wright Price Performance
Shares of NYSE:CW opened at $793.04 on Tuesday. The firm has a market cap of $29.29 billion, a price-to-earnings ratio of 58.10, a P/E/G ratio of 3.52 and a beta of 0.86. The firm has a fifty day moving average price of $741.63 and a 200 day moving average price of $689.46. Curtiss-Wright Corporation has a fifty-two week low of $463.00 and a fifty-two week high of $800.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52.
Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.32 by $0.16. The company had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. Curtiss-Wright's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 EPS. As a group, sell-side analysts expect that Curtiss-Wright Corporation will post 15.17 earnings per share for the current fiscal year.
Curtiss-Wright Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th. Curtiss-Wright's payout ratio is 7.62%.
About Curtiss-Wright
(
Free Report)
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.
Further Reading
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