Clark Capital Management Group Inc. Has $89.13 Million Stock Holdings in Curtiss-Wright Corporation $CW

Key Points

• Clark Capital raised its stake in Curtiss‑Wright to 164,161 shares (a 1.5% increase) valued at about $89.13 million, and overall institutional ownership stands at 82.71%.
• Curtiss‑Wright beat expectations for the quarter with EPS of $3.79 (vs. $3.66 est.) and revenue of $946.98M (up 14.9% YoY), while analysts have an average rating of "Moderate Buy" and an average price target of $663.17.
• Senior insiders have been selling recently: VP Gary A. Ogilby sold 625 shares and CFO K. Christopher Farkas sold 2,665 shares, with insiders selling 17,269 shares (~$10.8M) over the past 90 days and owning just 0.55% of the stock.

Clark Capital Management Group Inc. increased its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,161 shares of the aerospace company's stock after buying an additional 2,495 shares during the quarter. Clark Capital Management Group Inc. owned 0.45% of Curtiss-Wright worth $89,130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CW. Massachusetts Financial Services Co. MA acquired a new stake in Curtiss-Wright during the 2nd quarter worth about $270,731,000. Norges Bank acquired a new position in shares of Curtiss-Wright in the 2nd quarter valued at about $241,537,000. Munro Partners acquired a new position in shares of Curtiss-Wright in the 2nd quarter valued at about $78,000,000. AQR Capital Management LLC lifted its position in shares of Curtiss-Wright by 45.8% in the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company's stock worth $189,468,000 after purchasing an additional 122,048 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of Curtiss-Wright during the third quarter worth approximately $62,320,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Gary A. Ogilby sold 625 shares of the company's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $624.32, for a total transaction of $390,200.00. Following the completion of the sale, the vice president owned 2,571 shares in the company, valued at approximately $1,605,126.72. This represents a 19.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO K Christopher Farkas sold 2,665 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total value of $1,669,169.45. Following the transaction, the chief financial officer directly owned 7,358 shares in the company, valued at approximately $4,608,536.14. This represents a 26.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 17,269 shares of company stock valued at $10,797,098. 0.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CW. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a research report on Monday, December 22nd. Citigroup increased their target price on shares of Curtiss-Wright from $661.00 to $718.00 and gave the stock a "neutral" rating in a research report on Friday, February 13th. Stifel Nicolaus boosted their price target on shares of Curtiss-Wright from $625.00 to $650.00 and gave the company a "hold" rating in a report on Friday, February 13th. Wall Street Zen raised shares of Curtiss-Wright from a "hold" rating to a "buy" rating in a research note on Saturday, January 10th. Finally, Truist Financial set a $603.00 price objective on Curtiss-Wright in a report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $663.17.

Curtiss-Wright Stock Performance

CW stock opened at $654.64 on Friday. The firm has a 50 day moving average of $663.82 and a two-hundred day moving average of $585.39. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $730.12. The company has a market capitalization of $24.14 billion, a price-to-earnings ratio of 50.87, a P/E/G ratio of 3.20 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.30.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share for the quarter, beating analysts' consensus estimates of $3.66 by $0.13. Curtiss-Wright had a net margin of 13.84% and a return on equity of 19.28%. The business had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. During the same quarter last year, the firm earned $3.27 EPS. Curtiss-Wright's revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.1%. The ex-dividend date is Thursday, March 26th. Curtiss-Wright's dividend payout ratio (DPR) is 7.46%.

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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