Fifth Third Bancorp Acquires 17,345 Shares of Curtiss-Wright Corporation $CW

Key Points

• Fifth Third Bancorp sharply increased its stake in Curtiss-Wright, boosting its holdings by 1,568.3% in the first quarter to 18,451 shares valued at about $12.6 million.
• Insiders sold shares in June, including VP Gary A. Ogilby and CEO Lynn M. Bamford, with total insider sales of 3,119 shares worth about $2.26 million over the last quarter.
• Curtiss-Wright reported solid quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a “Moderate Buy” with an average price target of $749.67.

Fifth Third Bancorp increased its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 1,568.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 18,451 shares of the aerospace company's stock after purchasing an additional 17,345 shares during the period. Fifth Third Bancorp's holdings in Curtiss-Wright were worth $12,567,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Candriam S.C.A. grew its holdings in Curtiss-Wright by 37.3% in the 1st quarter. Candriam S.C.A. now owns 5,835 shares of the aerospace company's stock valued at $3,974,000 after buying an additional 1,585 shares during the last quarter. Main Street Research LLC lifted its holdings in shares of Curtiss-Wright by 10.4% during the first quarter. Main Street Research LLC now owns 1,012 shares of the aerospace company's stock worth $689,000 after buying an additional 95 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Curtiss-Wright by 23.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 203,487 shares of the aerospace company's stock valued at $138,599,000 after acquiring an additional 38,464 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of Curtiss-Wright in the first quarter valued at approximately $7,215,000. Finally, Personal CFO Solutions LLC grew its stake in shares of Curtiss-Wright by 8.0% in the first quarter. Personal CFO Solutions LLC now owns 1,120 shares of the aerospace company's stock worth $763,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 82.71% of the company's stock.

Insiders Place Their Bets

In other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the transaction, the vice president owned 2,172 shares in the company, valued at $1,568,075.40. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the sale, the chief executive officer directly owned 48,134 shares in the company, valued at $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,119 shares of company stock worth $2,257,998 over the last quarter. Company insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Citigroup raised their price target on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $749.67.

Curtiss-Wright Stock Up 1.6%

CW opened at $751.96 on Wednesday. The company has a market capitalization of $27.78 billion, a P/E ratio of 55.09, a P/E/G ratio of 3.40 and a beta of 0.86. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The firm's fifty day moving average price is $746.61 and its two-hundred day moving average price is $697.92. Curtiss-Wright Corporation has a fifty-two week low of $463.00 and a fifty-two week high of $808.16.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.32 by $0.16. The company had revenue of $913.69 million during the quarter, compared to analysts' expectations of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business's revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.82 EPS. On average, analysts anticipate that Curtiss-Wright Corporation will post 15.18 EPS for the current year.

Curtiss-Wright Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th. Curtiss-Wright's dividend payout ratio is 7.62%.

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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