Curtiss-Wright Corporation $CW Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Curtiss-Wright stake by 95.1% in the third quarter, selling 9,699 shares and retaining 500 shares valued at approximately $272,000. Institutional investors collectively own 82.71% of the company.
• Curtiss-Wright recently reported quarterly EPS of $3.72, exceeding the $3.62 analyst consensus, while revenue reached $924.01 million and rose 5.4% year over year.
• Analyst sentiment remains a “Moderate Buy,” with an average price target of $676.38, although several firms reduced their targets. The company also increased its quarterly dividend to $0.26 per share.

Assenagon Asset Management S.A. lessened its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 95.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500 shares of the aerospace company's stock after selling 9,699 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Curtiss-Wright were worth $272,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Curtiss-Wright during the 2nd quarter valued at about $3,448,649,000. Primecap Management Co. CA acquired a new position in Curtiss-Wright in the second quarter valued at about $390,106,000. Bank of New York Mellon Corp bought a new stake in Curtiss-Wright during the second quarter worth about $270,458,000. William Blair Investment Management LLC bought a new stake in Curtiss-Wright during the second quarter worth about $240,442,000. Finally, TimesSquare Capital Management LLC bought a new stake in Curtiss-Wright during the second quarter worth about $124,673,000. Institutional investors and hedge funds own 82.71% of the company's stock.

Insider Buying and Selling

In other Curtiss-Wright news, Director Larry D. Wyche sold 100 shares of the company's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the sale, the director owned 1,414 shares of the company's stock, valued at approximately $843,790.36. This represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John C. Watts sold 1,035 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total transaction of $641,141.10. Following the completion of the sale, the executive vice president directly owned 2,736 shares of the company's stock, valued at $1,694,842.56. The trade was a 27.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.51% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CW shares. Citigroup decreased their price target on Curtiss-Wright from $793.00 to $622.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 7th. Morgan Stanley dropped their price target on Curtiss-Wright from $860.00 to $625.00 and set an "overweight" rating for the company in a report on Friday, October 16th. Weiss Ratings downgraded Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, September 4th. Wall Street Zen lowered Curtiss-Wright from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Guggenheim initiated coverage on Curtiss-Wright in a research note on Monday, September 14th. They issued a "buy" rating and a $786.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $676.38.

Curtiss-Wright Stock Performance

CW stock opened at $464.02 on Friday. Curtiss-Wright Corporation has a twelve month low of $453.42 and a twelve month high of $808.16. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. The company has a market cap of $17.14 billion, a P/E ratio of 31.94, a price-to-earnings-growth ratio of 1.98 and a beta of 0.88. The business's fifty day moving average is $557.88 and its 200-day moving average is $673.00.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, topping analysts' consensus estimates of $3.62 by $0.10. The business had revenue of $924.01 million during the quarter, compared to analysts' expectations of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.23 earnings per share. Equities research analysts forecast that Curtiss-Wright Corporation will post 15.33 EPS for the current year.

Curtiss-Wright Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a $0.26 dividend. This is a boost from Curtiss-Wright's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, September 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright's dividend payout ratio (DPR) is currently 7.16%.

About Curtiss-Wright

Curtiss-Wright Corporation NYSE: CW is a diversified industrial company that provides highly engineered products and services to the aerospace, defense, commercial nuclear power, and general industrial markets. The company designs and manufactures equipment used in applications that require reliable performance in demanding operating environments.

Its products and technologies include motion-control systems, valves, pumps, actuation equipment, sensors, data-acquisition systems, embedded computing products, and aircraft structural components.

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