Curtiss-Wright Corporation $CW Shares Sold by Victory Capital Management Inc.

Key Points

• Victory Capital Management cut its Curtiss‑Wright stake by 11.4%, selling 19,767 shares and retaining 153,045 shares valued at about $83.09 million, while institutional investors own roughly 82.71% of the company.
• Quarterly results beat expectations: Curtiss‑Wright reported EPS of $3.79 vs. $3.66 expected and revenue of $946.98M vs. $890.14M expected, a 14.9% year‑over‑year revenue increase, with analysts forecasting FY EPS of about 12.32.
• The company announced a quarterly dividend of $0.24 ($0.96 annual, ~0.1% yield), and insiders have been sellers recently—EVP and CFO sales contributed to 17,269 shares (~$10.8M) sold over the past three months.

Victory Capital Management Inc. lessened its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,045 shares of the aerospace company's stock after selling 19,767 shares during the quarter. Victory Capital Management Inc. owned approximately 0.42% of Curtiss-Wright worth $83,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CW. Atlantic Union Bankshares Corp purchased a new stake in Curtiss-Wright during the third quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Curtiss-Wright in the second quarter valued at approximately $27,000. Penserra Capital Management LLC purchased a new stake in Curtiss-Wright during the 2nd quarter worth approximately $29,000. First Horizon Corp acquired a new stake in Curtiss-Wright during the 3rd quarter worth approximately $34,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Curtiss-Wright by 53.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company's stock valued at $49,000 after buying an additional 35 shares during the period. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Trading Down 4.7%

CW opened at $679.35 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.44. Curtiss-Wright Corporation has a one year low of $266.88 and a one year high of $730.12. The company has a market cap of $25.05 billion, a P/E ratio of 52.79, a PEG ratio of 3.47 and a beta of 0.91. The business's 50-day simple moving average is $648.68 and its 200-day simple moving average is $576.25.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.66 by $0.13. The firm 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 firm's quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.27 earnings per share. As a group, equities research analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

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

Insider Transactions at Curtiss-Wright

In related news, EVP John C. Watts sold 652 shares of the business's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $625.57, for a total value of $407,871.64. Following the completion of the sale, the executive vice president directly owned 3,890 shares of the company's stock, valued at $2,433,467.30. The trade was a 14.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO K Christopher Farkas sold 2,665 shares of the company's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,669,169.45. Following the completion of the transaction, the chief financial officer owned 7,358 shares of the company's stock, valued at $4,608,536.14. This represents a 26.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 17,269 shares of company stock worth $10,797,098. Insiders own 0.55% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CW. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $748.00 price objective on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Stifel Nicolaus increased their price target on Curtiss-Wright from $625.00 to $650.00 and gave the company a "hold" rating in a research report on Friday, February 13th. Weiss Ratings reissued a "buy (b)" rating on shares of Curtiss-Wright in a research report on Monday, December 22nd. Citigroup upped their target price on shares of Curtiss-Wright from $661.00 to $718.00 and gave the stock a "neutral" rating in a research note on Friday, February 13th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $760.00 target price on shares of Curtiss-Wright in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Curtiss-Wright presently has an average rating of "Moderate Buy" and an average target price of $663.17.

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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