Covea Finance Trims Holdings in Curtiss-Wright Corporation (NYSE:CW)

Covea Finance cut its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 29.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,700 shares of the aerospace company's stock after selling 8,200 shares during the period. Covea Finance owned about 0.05% of Curtiss-Wright worth $6,250,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its stake in Curtiss-Wright by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 1,161 shares of the aerospace company's stock worth $412,000 after purchasing an additional 58 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Curtiss-Wright by 6.2% in the 4th quarter. Truist Financial Corp now owns 14,230 shares of the aerospace company's stock worth $5,050,000 after buying an additional 825 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Curtiss-Wright by 31.4% in the 4th quarter. Venturi Wealth Management LLC now owns 310 shares of the aerospace company's stock worth $110,000 after buying an additional 74 shares during the period. Atria Wealth Solutions Inc. grew its position in shares of Curtiss-Wright by 6.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 1,772 shares of the aerospace company's stock worth $629,000 after buying an additional 105 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Curtiss-Wright by 37.2% during the fourth quarter. Global Retirement Partners LLC now owns 664 shares of the aerospace company's stock valued at $236,000 after buying an additional 180 shares during the period. Hedge funds and other institutional investors own 82.71% of the company's stock.

Curtiss-Wright Stock Up 0.7%

Shares of CW stock traded up $3.03 during mid-day trading on Friday, hitting $465.84. 1,226,082 shares of the stock traded hands, compared to its average volume of 286,865. Curtiss-Wright Corporation has a 52-week low of $258.85 and a 52-week high of $479.91. The stock has a market cap of $17.54 billion, a P/E ratio of 41.45, a P/E/G ratio of 3.06 and a beta of 1.13. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.89 and a quick ratio of 1.28. The stock's fifty day moving average is $400.61 and its two-hundred day moving average is $360.69.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The firm had revenue of $805.65 million during the quarter, compared to analyst estimates of $767.32 million. During the same quarter in the previous year, the business posted $1.99 EPS. Curtiss-Wright's revenue was up 13.0% on a year-over-year basis. Equities analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.21%. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 16th. Curtiss-Wright's payout ratio is 8.54%.

Insider Buying and Selling

In other Curtiss-Wright news, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the transaction, the director now owns 4,523 shares of the company's stock, valued at approximately $2,026,304. This trade represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO K Christopher Farkas sold 4,780 shares of Curtiss-Wright stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $350.00, for a total transaction of $1,673,000.00. Following the sale, the chief financial officer now owns 9,253 shares of the company's stock, valued at $3,238,550. The trade was a 34.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,130 shares of company stock worth $2,726,412 in the last ninety days. 0.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CW has been the subject of several recent research reports. Truist Financial decreased their price objective on Curtiss-Wright from $357.00 to $338.00 and set a "hold" rating for the company in a report on Thursday, April 17th. Citigroup raised their target price on shares of Curtiss-Wright from $444.00 to $520.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Robert W. Baird boosted their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Stifel Nicolaus dropped their price objective on shares of Curtiss-Wright from $331.00 to $309.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Wall Street Zen lowered shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $418.00.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.