Envestnet Asset Management Inc. Lowers Position in Curtiss-Wright Corporation (NYSE:CW)

Envestnet Asset Management Inc. cut its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,292 shares of the aerospace company's stock after selling 8,320 shares during the period. Envestnet Asset Management Inc. owned approximately 0.40% of Curtiss-Wright worth $48,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CW. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Curtiss-Wright by 0.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,319 shares of the aerospace company's stock worth $1,178,000 after buying an additional 29 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Curtiss-Wright by 10.6% during the 4th quarter. Harbour Investments Inc. now owns 312 shares of the aerospace company's stock worth $111,000 after buying an additional 30 shares in the last quarter. Ascent Group LLC raised its holdings in shares of Curtiss-Wright by 4.9% during the 4th quarter. Ascent Group LLC now owns 713 shares of the aerospace company's stock worth $253,000 after buying an additional 33 shares in the last quarter. Baird Financial Group Inc. grew its position in Curtiss-Wright by 1.6% during the 4th quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company's stock worth $753,000 after acquiring an additional 34 shares during the last quarter. Finally, Portside Wealth Group LLC grew its position in Curtiss-Wright by 1.6% during the 1st quarter. Portside Wealth Group LLC now owns 2,144 shares of the aerospace company's stock worth $680,000 after acquiring an additional 34 shares during the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CW has been the topic of a number of analyst reports. Truist Financial reduced their price target on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a research report on Friday. Wall Street Zen upgraded Curtiss-Wright from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Robert W. Baird upped their price target on Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Stifel Nicolaus dropped their price objective on 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, Citigroup boosted their price objective on Curtiss-Wright from $444.00 to $520.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $418.00.

Insider Buying and Selling

In other news, CFO K Christopher Farkas sold 4,780 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $350.00, for a total value of $1,673,000.00. Following the completion of the sale, the chief financial officer directly owned 9,253 shares of the company's stock, valued at $3,238,550. This represents a 34.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John C. Watts sold 450 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $449.36, for a total value of $202,212.00. Following the completion of the sale, the vice president directly owned 4,959 shares of the company's stock, valued at approximately $2,228,376.24. This trade represents a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,130 shares of company stock valued at $2,726,412. 0.55% of the stock is owned by company insiders.

Curtiss-Wright Stock Down 0.2%

CW stock traded down $1.01 during trading on Friday, reaching $473.48. 352,668 shares of the stock were exchanged, compared to its average volume of 289,136. The firm's 50 day moving average is $446.23 and its 200 day moving average is $373.18. Curtiss-Wright Corporation has a twelve month low of $258.85 and a twelve month high of $493.95. The company has a current ratio of 1.89, a quick ratio of 1.28 and a debt-to-equity ratio of 0.37. The firm has a market cap of $17.83 billion, a P/E ratio of 42.12, a price-to-earnings-growth ratio of 2.99 and a beta of 1.15.

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

Curtiss-Wright Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Investors of record on Monday, June 16th were paid a dividend of $0.24 per share. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.21. This represents a $0.96 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Monday, June 16th. Curtiss-Wright's dividend payout ratio is 8.54%.

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.