Curtiss-Wright Corporation $CW Shares Sold by Jennison Associates LLC

Key Points

• Jennison Associates LLC dramatically cut its stake in Curtiss‑Wright, selling 103,543 shares in Q4 — a 97.6% reduction that left it with 2,528 shares worth about $1.39 million.
• Company insiders have been net sellers recently: two VPs sold individual stakes (252 and 140 shares) and insiders have disposed of 22,717 shares worth $14.53 million in the past three months, while insiders own just 0.51% of the stock.
• Curtiss‑Wright reported a strong quarter (EPS $3.79 vs. $3.66 expected; revenue $946.98M, up 14.9% YoY), and analysts hold a consensus of "Moderate Buy" with an average price target of $677 and top targets up to $760.

Jennison Associates LLC lowered its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 97.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,528 shares of the aerospace company's stock after selling 103,543 shares during the period. Jennison Associates LLC's holdings in Curtiss-Wright were worth $1,394,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CW. Atlantic Union Bankshares Corp acquired a new stake in shares of Curtiss-Wright during the third quarter worth about $26,000. Larson Financial Group LLC increased its position in shares of Curtiss-Wright by 53.8% during the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock worth $33,000 after purchasing an additional 21 shares in the last quarter. First Horizon Corp acquired a new stake in shares of Curtiss-Wright during the third quarter worth about $34,000. Sunbelt Securities Inc. acquired a new stake in shares of Curtiss-Wright during the third quarter worth about $43,000. Finally, V Square Quantitative Management LLC acquired a new position in Curtiss-Wright in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 82.71% of the company's stock.

Insider Buying and Selling

In other Curtiss-Wright news, VP Gary A. Ogilby sold 252 shares of Curtiss-Wright stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $689.14, for a total value of $173,663.28. Following the sale, the vice president owned 2,571 shares of the company's stock, valued at approximately $1,771,778.94. The trade was a 8.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert F. Freda sold 140 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $678.61, for a total value of $95,005.40. Following the completion of the sale, the vice president directly owned 5,343 shares in the company, valued at $3,625,813.23. This represents a 2.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,717 shares of company stock worth $14,533,791 in the last three months. Company insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $748.00 price target on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Truist Financial set a $603.00 price target on Curtiss-Wright in a research report on Friday, January 9th. Morgan Stanley restated an "overweight" rating and issued a $760.00 price target on shares of Curtiss-Wright in a research report on Friday, February 13th. Citigroup boosted their price target on Curtiss-Wright from $718.00 to $728.00 and gave the company a "neutral" rating in a research report on Thursday, April 2nd. Finally, Stifel Nicolaus boosted their price target on Curtiss-Wright from $650.00 to $723.00 and gave the company a "hold" rating in a research report on Tuesday, April 14th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $677.00.

Curtiss-Wright Stock Performance

Shares of CW stock opened at $712.66 on Monday. The stock has a market capitalization of $26.30 billion, a PE ratio of 55.37, a price-to-earnings-growth ratio of 3.38 and a beta of 0.86. Curtiss-Wright Corporation has a 52-week low of $352.03 and a 52-week high of $748.14. The stock's 50-day moving average price is $701.67 and its 200 day moving average price is $631.01. 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 announced its quarterly earnings data 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 return on equity of 19.28% and a net margin of 13.84%.The company had revenue of $946.98 million for the quarter, compared to analyst estimates of $890.14 million. During the same quarter in the previous year, the company earned $3.27 EPS. The firm's revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, equities research analysts forecast that Curtiss-Wright Corporation will post 15.06 EPS for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Thursday, March 26th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, March 26th. Curtiss-Wright's payout ratio is currently 7.46%.

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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