Curtiss-Wright Corporation $CW Shares Sold by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas trimmed its Curtiss-Wright stake by 12.4% in Q4, selling 2,811 shares and leaving 19,784 shares worth about $10.91 million.
• Company insiders have been net sellers — VP Gary A. Ogilby and COO Kevin Rayment sold shares in March, and insiders disposed of 22,717 shares totaling about $14.53 million over the last three months.
• Curtiss-Wright recently beat quarterly estimates with EPS of $3.79 vs. $3.66 expected and revenue of $947 million vs. $890 million expected, and analysts maintain a consensus rating of "Moderate Buy" while the stock trades with a market cap near $26.5 billion.

Teacher Retirement System of Texas trimmed its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,784 shares of the aerospace company's stock after selling 2,811 shares during the quarter. Teacher Retirement System of Texas owned about 0.05% of Curtiss-Wright worth $10,906,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Trail Ridge Investment Advisors LLC boosted its holdings in Curtiss-Wright by 9.0% in the fourth quarter. Trail Ridge Investment Advisors LLC now owns 1,482 shares of the aerospace company's stock valued at $817,000 after purchasing an additional 122 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Curtiss-Wright by 19.2% in the fourth quarter. HB Wealth Management LLC now owns 796 shares of the aerospace company's stock valued at $439,000 after purchasing an additional 128 shares in the last quarter. Caprock Group LLC boosted its holdings in Curtiss-Wright by 53.4% in the fourth quarter. Caprock Group LLC now owns 4,142 shares of the aerospace company's stock valued at $2,284,000 after purchasing an additional 1,441 shares in the last quarter. M&T Bank Corp boosted its holdings in Curtiss-Wright by 5,993.0% in the fourth quarter. M&T Bank Corp now owns 77,868 shares of the aerospace company's stock valued at $42,926,000 after purchasing an additional 76,590 shares in the last quarter. Finally, Optas LLC boosted its holdings in Curtiss-Wright by 76.3% in the fourth quarter. Optas LLC now owns 691 shares of the aerospace company's stock valued at $381,000 after purchasing an additional 299 shares in the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Curtiss-Wright

In other news, VP Gary A. Ogilby sold 252 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $689.14, for a total transaction of $173,663.28. Following the completion of the sale, the vice president owned 2,571 shares in the company, valued at $1,771,778.94. This represents a 8.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Kevin Rayment sold 907 shares of the company's stock in a transaction that occurred on 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 owned 31,493 shares of the company's stock, valued at $21,332,728.34. This trade represents a 2.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 22,717 shares of company stock valued at $14,533,791. Corporate insiders own 0.51% of the company's stock.

Curtiss-Wright Price Performance

CW stock opened at $717.39 on Friday. The company has a market capitalization of $26.48 billion, a P/E ratio of 55.74, a PEG ratio of 3.44 and a beta of 0.91. Curtiss-Wright Corporation has a twelve month low of $333.33 and a twelve month high of $748.14. The business has a 50 day simple moving average of $700.14 and a 200-day simple moving average of $626.02. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.13. The business had revenue of $946.98 million during the quarter, compared to the consensus estimate of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The company's revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.27 earnings per share. As a group, equities analysts anticipate that Curtiss-Wright Corporation will post 15.06 EPS for the current year.

Curtiss-Wright Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Thursday, March 26th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Thursday, March 26th. Curtiss-Wright's dividend payout ratio is 7.46%.

Wall Street Analysts Forecast Growth

CW has been the subject of a number of research analyst reports. Truist Financial set a $603.00 price target on Curtiss-Wright in a report on Friday, January 9th. Morgan Stanley reaffirmed an "overweight" rating and issued a $760.00 price target on shares of Curtiss-Wright in a report on Friday, February 13th. Stifel Nicolaus increased their price objective on Curtiss-Wright from $650.00 to $723.00 and gave the company a "hold" rating in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $748.00 price objective on shares of Curtiss-Wright in a report on Tuesday, February 17th. Finally, Wall Street Zen raised Curtiss-Wright from a "hold" rating to a "buy" rating in a report on Saturday, January 10th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Curtiss-Wright has a consensus rating of "Moderate Buy" and a consensus price target of $677.00.

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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