Fort Washington Investment Advisors Inc. OH Reduces Stock Position in Curtiss-Wright Corporation $CW

Key Points

• Fort Washington Investment Advisors cut its Curtiss-Wright stake by 14.6% in the first quarter, selling 5,250 shares and ending with 30,660 shares valued at about $20.9 million.
• Insider selling continued, with VP Gary A. Ogilby and EVP John C. Watts both selling shares under pre-arranged 10b5-1 plans; insiders sold 3,119 shares total over the last 90 days.
• Business performance remains solid: Curtiss-Wright beat quarterly earnings and revenue estimates, raised revenue 13.4% year over year, and analysts currently rate the stock a “Moderate Buy” with an average target price of $746.67.

Fort Washington Investment Advisors Inc. OH lessened its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 14.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,660 shares of the aerospace company's stock after selling 5,250 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned about 0.08% of Curtiss-Wright worth $20,883,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC purchased a new stake in Curtiss-Wright in the 4th quarter valued at $31,000. Larson Financial Group LLC raised its holdings in shares of Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock worth $33,000 after acquiring an additional 21 shares during the period. Transamerica Financial Advisors LLC raised its holdings in shares of Curtiss-Wright by 25.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after acquiring an additional 15 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Curtiss-Wright during the 4th quarter valued at about $42,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Curtiss-Wright during the 4th quarter valued at about $43,000. Hedge funds and other 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 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 of the company's stock, 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 filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of Curtiss-Wright stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the sale, the executive vice president owned 3,962 shares of the company's stock, valued at approximately $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,119 shares of company stock valued at $2,257,998 over the last 90 days. 0.51% of the stock is owned by company insiders.

Curtiss-Wright Price Performance

NYSE:CW opened at $747.45 on Monday. Curtiss-Wright Corporation has a 52 week low of $463.00 and a 52 week high of $800.00. The stock's fifty day moving average is $737.23 and its two-hundred day moving average is $680.58. The company has a market capitalization of $27.61 billion, a P/E ratio of 54.76, a P/E/G ratio of 3.46 and a beta of 0.85. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, topping analysts' consensus estimates of $3.32 by $0.16. The business had revenue of $913.69 million during the quarter, compared to analysts' expectations of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The company's revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.82 EPS. Equities analysts expect that Curtiss-Wright Corporation will post 15.17 EPS for the current year.

Curtiss-Wright Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. Curtiss-Wright's dividend payout ratio is presently 7.62%.

Analysts Set New Price Targets

CW has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Curtiss-Wright from $728.00 to $775.00 and gave the company a "neutral" rating in a report on Monday, May 18th. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Finally, Stifel Nicolaus set a $724.00 price target on shares of Curtiss-Wright in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Curtiss-Wright has an average rating of "Moderate Buy" and an average price target of $746.67.

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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