BW Gestao de Investimentos Ltda. Raises Holdings in Curtiss-Wright Corporation $CW

Key Points

• BW Gestao de Investimentos Ltda. boosted its Curtiss-Wright stake by 62.4% in the fourth quarter, ending with 19,489 shares worth about $10.74 million.
• Insider selling continued, with EVP John C. Watts and COO Kevin Rayment both selling shares in recent transactions; insiders have sold 6,181 shares worth about $4.2 million over the past 90 days.
• Curtiss-Wright reported better-than-expected quarterly results, including EPS of $3.48 on revenue of $913.69 million, and analysts currently have a Moderate Buy consensus with an average price target of $746.67.

BW Gestao de Investimentos Ltda. lifted its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 62.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,489 shares of the aerospace company's stock after buying an additional 7,489 shares during the period. BW Gestao de Investimentos Ltda. owned about 0.05% of Curtiss-Wright worth $10,744,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CW. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Curtiss-Wright in the third quarter valued at $2,781,000. SG Americas Securities LLC grew its holdings in Curtiss-Wright by 738.8% in the fourth quarter. SG Americas Securities LLC now owns 26,003 shares of the aerospace company's stock valued at $14,335,000 after purchasing an additional 22,903 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Curtiss-Wright in the third quarter valued at $37,812,000. Grove Bank & Trust purchased a new position in Curtiss-Wright during the fourth quarter worth $1,104,000. Finally, Fisher Asset Management LLC increased its position in Curtiss-Wright by 7.2% during the third quarter. Fisher Asset Management LLC now owns 120,535 shares of the aerospace company's stock worth $65,443,000 after buying an additional 8,095 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Curtiss-Wright

In other news, EVP John C. Watts sold 220 shares of Curtiss-Wright stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kevin Rayment sold 907 shares of Curtiss-Wright 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. The trade was a 2.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,181 shares of company stock valued at $4,204,919 over the last 90 days. Corporate insiders own 0.51% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup raised their price target on Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $748.00 price target on shares of Curtiss-Wright in a research 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 price target on Curtiss-Wright in a research report on Friday, May 8th. Finally, Morgan Stanley reissued an "overweight" rating and set a $760.00 price target on shares of Curtiss-Wright in a research report on Friday, February 13th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $746.67.

Curtiss-Wright Price Performance

CW stock opened at $719.62 on Tuesday. Curtiss-Wright Corporation has a 52-week low of $435.35 and a 52-week high of $760.72. The stock's fifty day simple moving average is $716.54 and its 200-day simple moving average is $653.27. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $26.58 billion, a price-to-earnings ratio of 52.72, a price-to-earnings-growth ratio of 3.47 and a beta of 0.86.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data 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. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The business had revenue of $913.69 million for the quarter, compared to analysts' expectations of $863.83 million. During the same quarter last year, the firm earned $2.82 earnings per share. The business's revenue was up 13.4% on a year-over-year basis. Equities research analysts expect that Curtiss-Wright Corporation will post 15.15 EPS for the current year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Monday, June 15th. Curtiss-Wright's payout ratio is currently 7.62%.

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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