Burney Co. Sells 9,660 Shares of Curtiss-Wright Corporation (NYSE:CW)

Burney Co. cut its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 34.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,380 shares of the aerospace company's stock after selling 9,660 shares during the quarter. Burney Co.'s holdings in Curtiss-Wright were worth $5,831,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Curtiss-Wright during the 4th quarter valued at about $229,000. KLP Kapitalforvaltning AS purchased a new position in Curtiss-Wright during the 4th quarter worth $3,513,000. Fox Run Management L.L.C. purchased a new position in Curtiss-Wright in the 4th quarter worth $401,000. LPL Financial LLC boosted its holdings in Curtiss-Wright by 65.7% in the 4th quarter. LPL Financial LLC now owns 25,069 shares of the aerospace company's stock worth $8,896,000 after buying an additional 9,939 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Curtiss-Wright by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,634,028 shares of the aerospace company's stock valued at $1,289,608,000 after purchasing an additional 15,890 shares during the period. 82.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CW shares. Morgan Stanley raised their price objective on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Stifel Nicolaus lifted their price objective on shares of Curtiss-Wright from $365.00 to $450.00 and gave the stock a "hold" rating in a research note on Monday. Robert W. Baird upped their price objective on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Citigroup lifted their price objective on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Wall Street Zen upgraded Curtiss-Wright from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $467.14.

Insider Buying and Selling

In related news, VP John C. Watts sold 450 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $449.36, for a total transaction of $202,212.00. Following the sale, the vice president owned 4,959 shares of the company's stock, valued at approximately $2,228,376.24. This represents a 8.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bruce D. Hoechner sold 1,900 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the sale, the director owned 4,523 shares of the company's stock, valued at approximately $2,026,304. This trade represents a 29.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,130 shares of company stock valued at $2,726,412 over the last ninety days. 0.55% of the stock is owned by company insiders.

Curtiss-Wright Stock Down 1.1%

Shares of NYSE CW opened at $474.91 on Wednesday. The company has a 50-day moving average of $461.14 and a 200 day moving average of $379.34. Curtiss-Wright Corporation has a 12-month low of $258.85 and a 12-month high of $493.95. The company has a current ratio of 1.89, a quick ratio of 1.28 and a debt-to-equity ratio of 0.37. The stock has a market cap of $17.89 billion, a PE ratio of 42.25, a P/E/G ratio of 3.03 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.43. The company had revenue of $805.65 million for the quarter, compared to analysts' expectations of $767.32 million. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The firm's revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.99 earnings per share. As a group, sell-side analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 16th were paid a $0.24 dividend. This is a positive change from Curtiss-Wright's previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Monday, June 16th. Curtiss-Wright's payout ratio is currently 8.54%.

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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