Curtiss-Wright Corporation $CW Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc cut its Curtiss-Wright stake by 13.6% in the fourth quarter, selling 10,796 shares and leaving it with 68,831 shares valued at about $37.9 million.
• Curtiss-Wright reported strong quarterly results, with EPS of $3.48 beating estimates of $3.32 and revenue of $913.69 million topping forecasts; revenue rose 13.4% year over year.
• The company recently declared a quarterly dividend of $0.24 per share, while analysts maintain a Moderate Buy consensus with a target price of $746.67, near the stock’s recent trading level.

Legal & General Group Plc decreased its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,831 shares of the aerospace company's stock after selling 10,796 shares during the period. Legal & General Group Plc owned 0.19% of Curtiss-Wright worth $37,944,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Main Street Research LLC increased its position in Curtiss-Wright by 3.3% during the fourth quarter. Main Street Research LLC now owns 917 shares of the aerospace company's stock worth $506,000 after buying an additional 29 shares during the period. Swedbank AB increased its holdings in shares of Curtiss-Wright by 21,101.8% in the fourth quarter. Swedbank AB now owns 93,500 shares of the aerospace company's stock valued at $51,544,000 after purchasing an additional 93,059 shares during the period. Catalyst Funds Management Pty Ltd increased its holdings in shares of Curtiss-Wright by 72.8% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 7,432 shares of the aerospace company's stock valued at $4,097,000 after purchasing an additional 3,132 shares during the period. Lisanti Capital Growth LLC increased its holdings in shares of Curtiss-Wright by 0.7% in the fourth quarter. Lisanti Capital Growth LLC now owns 2,845 shares of the aerospace company's stock valued at $1,568,000 after purchasing an additional 20 shares during the period. Finally, MQS Management LLC acquired a new position in shares of Curtiss-Wright in the fourth quarter valued at approximately $479,000. Institutional investors and hedge funds own 82.71% of the company's stock.

Curtiss-Wright Trading Up 0.0%

Shares of CW stock opened at $747.99 on Friday. The business's fifty day moving average price is $715.99 and its 200 day moving average price is $651.82. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The firm has a market capitalization of $27.63 billion, a PE ratio of 54.80, a P/E/G ratio of 3.47 and a beta of 0.86. Curtiss-Wright Corporation has a 1-year low of $435.35 and a 1-year high of $760.72.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping 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 return on equity of 20.00% and a net margin of 14.17%.Curtiss-Wright's quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 earnings per share. As a group, sell-side analysts forecast that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Monday, June 15th. Curtiss-Wright's payout ratio is presently 7.03%.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 3,225 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $676.70, for a total transaction of $2,182,357.50. Following the sale, the chief executive officer directly owned 50,634 shares in the company, valued at approximately $34,264,027.80. The trade was a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gary A. Ogilby sold 252 shares of the business's stock in a transaction 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 in the company, valued at approximately $1,771,778.94. The trade was a 8.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,181 shares of company stock valued at $4,204,919 in the last 90 days. 0.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CW shares. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $748.00 target price on shares of Curtiss-Wright in a report on Tuesday, February 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Stifel Nicolaus set a $724.00 price objective on Curtiss-Wright in a report on Friday, May 8th. Finally, Citigroup upped their price objective on Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a report on Monday, May 18th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Curtiss-Wright has a consensus rating of "Moderate Buy" and a consensus target price of $746.67.

Curtiss-Wright 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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