Curtiss-Wright Corporation $CW Stock: Allspring Global Investments Holdings LLC Lowers Stake

Key Points

• Allspring Global Investments cut its Curtiss-Wright stake by 2.1%, selling 5,510 shares; it retained 253,383 shares, worth about $138.1 million at quarter-end.
• Curtiss-Wright beat third-quarter earnings and revenue estimates, with sales up 9.6% year over year. It raised its full-year sales-growth outlook to 8%–10% and reported a record $4.6 billion backlog.
• The company increased its quarterly dividend from $0.24 to $0.26 per share. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $657.12.

Allspring Global Investments Holdings LLC lowered its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,383 shares of the aerospace company's stock after selling 5,510 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.69% of Curtiss-Wright worth $138,079,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CW. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Curtiss-Wright in the second quarter worth $30,000. Quantbot Technologies LP purchased a new position in Curtiss-Wright in the second quarter worth about $30,000. Fiduciary Financial Advisors bought a new stake in shares of Curtiss-Wright during the 2nd quarter valued at about $31,000. Signature Equity Partners LLC grew its stake in shares of Curtiss-Wright by 140.0% during the 1st quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company's stock valued at $41,000 after purchasing an additional 35 shares during the period. Finally, Elevation Wealth Partners LLC grew its stake in shares of Curtiss-Wright by 237.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 54 shares of the aerospace company's stock valued at $41,000 after purchasing an additional 38 shares during the period. Institutional investors own 82.71% of the company's stock.

Curtiss-Wright Trading Up 0.2%

Curtiss-Wright stock opened at $464.20 on Monday. Curtiss-Wright Corporation has a 12-month low of $432.70 and a 12-month high of $808.16. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 1.92 and a beta of 0.94. The firm has a 50 day moving average of $525.29 and a 200 day moving average of $663.50. The company has a current ratio of 1.42, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The aerospace company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.76 by $0.18. Curtiss-Wright had a net margin of 14.86% and a return on equity of 21.08%. The business had revenue of $953.00 million for the quarter, compared to the consensus estimate of $935.09 million. During the same quarter in the previous year, the firm earned $3.31 earnings per share. The company's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, research analysts predict that Curtiss-Wright Corporation will post 15.50 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, September 25th. This represents a $1.04 annualized dividend and a yield of 0.2%. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.24. Curtiss-Wright's payout ratio is currently 6.94%.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, EVP John C. Watts sold 1,035 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value of $641,141.10. Following the completion of the sale, the executive vice president owned 2,736 shares in the company, valued at approximately $1,694,842.56. This represents a 27.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Larry D. Wyche sold 100 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total value of $59,674.00. Following the sale, the director directly owned 1,414 shares in the company, valued at approximately $843,790.36. This represents a 6.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.51% of the company's stock.

Curtiss-Wright News Roundup

Here are the key news stories impacting Curtiss-Wright this week:

• Positive Sentiment: Third-quarter adjusted earnings were $3.94 per share, above the $3.76 consensus, and revenue of $953 million topped estimates of $935 million, rising 9.6% year over year. The company raised its full-year sales-growth outlook to 8%–10%; backlog reached a record $4.6 billion, up 12% year to date. Curtiss-Wright Q3 results and raised guidance
• Positive Sentiment: Curtiss-Wright also won $225 million in U.S. Navy contracts, adding to its defense-related business prospects. Curtiss-Wright wins $225 million in U.S. Navy contracts
• Neutral Sentiment: Guggenheim lowered its price target from $786 to $674 but kept a Buy rating, indicating continued optimism despite a reduced valuation estimate. Guggenheim rating update
• Negative Sentiment: Piper Sandler cut its target from $586 to $544 and maintained a Neutral rating, signaling more cautious near-term expectations. Piper Sandler rating update

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CW shares. Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a research report on Wednesday, August 12th. Guggenheim dropped their price objective on shares of Curtiss-Wright from $786.00 to $674.00 and set a "buy" rating on the stock in a report on Friday. Weiss Ratings lowered shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. Wall Street Zen lowered shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Stifel Nicolaus reduced their target price on shares of Curtiss-Wright from $700.00 to $518.00 and set a "hold" rating for the company in a report on Monday, October 19th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $657.12.

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified industrial company that develops and manufactures engineered products and provides services for the aerospace, defense, power-generation and general industrial markets. Its offerings include actuation and control systems, sensors, valves and pumps, and embedded computing and electronics.

The company serves customers around the world, including aircraft manufacturers and operators, defense contractors, government agencies, and commercial nuclear power providers.

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