Gabelli Funds LLC Sells 3,500 Shares of Curtiss-Wright Corporation $CW

Key Points

• Gabelli Funds LLC has reduced its holdings in Curtiss-Wright Corporation by 3.2%, now owning 104,536 shares valued at approximately $33.17 million.
• Insider trading activity included Director Bruce D. Hoechner selling 1,900 shares worth $851,200, reducing his ownership by 29.58%.
• Curtiss-Wright reported strong quarterly earnings of $3.23 per share, exceeding estimates, with a revenue increase of 11.7% year-over-year.

Gabelli Funds LLC trimmed its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,536 shares of the aerospace company's stock after selling 3,500 shares during the quarter. Gabelli Funds LLC owned about 0.28% of Curtiss-Wright worth $33,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Minot DeBlois Advisors LLC bought a new position in shares of Curtiss-Wright in the 4th quarter worth about $35,000. Whipplewood Advisors LLC increased its stake in shares of Curtiss-Wright by 1,566.7% in the 1st quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company's stock worth $32,000 after acquiring an additional 94 shares in the last quarter. Ancora Advisors LLC bought a new stake in Curtiss-Wright during the 4th quarter valued at about $49,000. Private Trust Co. NA increased its stake in Curtiss-Wright by 13,800.0% during the 1st quarter. Private Trust Co. NA now owns 139 shares of the aerospace company's stock valued at $44,000 after purchasing an additional 138 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Curtiss-Wright by 165.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the aerospace company's stock valued at $63,000 after purchasing an additional 124 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Curtiss-Wright

In other news, Director Bruce D. Hoechner sold 1,900 shares of the business'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 transaction, the director owned 4,523 shares of the company's stock, valued at approximately $2,026,304. The trade was a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John C. Watts sold 1,110 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the transaction, the vice president directly owned 3,863 shares in the company, valued at $1,856,171.50. This trade represents a 22.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,460 shares of company stock worth $1,586,767 in the last three months. Insiders own 0.55% of the company's stock.

Curtiss-Wright Stock Performance

CW opened at $478.93 on Tuesday. The firm has a market cap of $18.05 billion, a P/E ratio of 40.42, a PEG ratio of 2.95 and a beta of 1.18. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $517.09. The company has a 50 day simple moving average of $484.45 and a two-hundred day simple moving average of $401.70. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.35.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, topping analysts' consensus estimates of $3.13 by $0.10. The business had revenue of $876.58 million during the quarter, compared to analyst estimates of $855.10 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The company's revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.67 earnings per share. Equities analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Wall Street Zen lowered shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Truist Financial reduced their price objective on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Morgan Stanley raised their price objective on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Robert W. Baird boosted their price objective 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. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Curtiss-Wright has a consensus rating of "Moderate Buy" and a consensus price target of $468.14.

Curtiss-Wright Profile

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.

Want to see what other hedge funds are holding CW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Curtiss-Wright Corporation (NYSE:CW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.