Gabelli Funds LLC Sells 6,250 Shares of Curtiss-Wright Corporation $CW

Key Points

• Gabelli Funds LLC trimmed its Curtiss-Wright stake by 6.2% in the first quarter, selling 6,250 shares and leaving it with 94,662 shares worth about $64.5 million.
• Analysts remain mixed but generally constructive on CW, with three Buy and three Hold ratings and a consensus “Moderate Buy” target price of $773.67. Recent price targets ranged as high as $870 from Robert W. Baird.
• Insiders have also been selling shares, including CEO Lynn M. Bamford and VP Gary A. Ogilby, though the company’s latest earnings beat expectations with EPS of $3.48 and revenue up 13.4% year over year.

Gabelli Funds LLC lessened its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,662 shares of the aerospace company's stock after selling 6,250 shares during the quarter. Gabelli Funds LLC owned 0.26% of Curtiss-Wright worth $64,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in Curtiss-Wright by 1.2% in the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company's stock valued at $780,091,000 after buying an additional 16,962 shares in the last quarter. Invesco Ltd. grew its position in Curtiss-Wright by 7.9% in the fourth quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company's stock valued at $671,231,000 after acquiring an additional 88,688 shares during the last quarter. Geode Capital Management LLC raised its stake in Curtiss-Wright by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company's stock worth $464,130,000 after acquiring an additional 47,287 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Curtiss-Wright by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company's stock worth $423,519,000 after acquiring an additional 39,515 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Curtiss-Wright by 9.3% in the fourth quarter. AQR Capital Management LLC now owns 533,264 shares of the aerospace company's stock worth $293,972,000 after acquiring an additional 45,589 shares during the last quarter. Institutional investors own 82.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings raised shares of Curtiss-Wright from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. Morgan Stanley reissued an "overweight" rating and issued a $860.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Stifel Nicolaus raised their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research report on Monday. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research note on Friday, May 8th. Finally, Citigroup boosted their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Curtiss-Wright has an average rating of "Moderate Buy" and a consensus target price of $773.67.

Insider Buying and Selling at Curtiss-Wright

In other news, VP Gary A. Ogilby sold 399 shares of the firm's stock in a transaction on 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 approximately $1,568,075.40. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the transaction, the chief executive officer owned 48,134 shares in the company, valued at approximately $34,739,270.48. This trade represents a 4.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 3,119 shares of company stock worth $2,257,998. 0.51% of the stock is currently owned by company insiders.

Curtiss-Wright Stock Performance

Shares of CW stock opened at $749.68 on Friday. The firm has a market capitalization of $27.69 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 3.44 and a beta of 0.86. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The business's 50-day moving average price is $745.86 and its 200-day moving average price is $706.41. Curtiss-Wright Corporation has a 12 month low of $464.91 and a 12 month high of $808.16.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.16. The company had revenue of $913.69 million during the quarter, compared to the consensus estimate of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The firm's revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Equities research analysts forecast that Curtiss-Wright Corporation will post 15.22 EPS for the current year.

Curtiss-Wright Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders 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 was Monday, June 15th. Curtiss-Wright's dividend payout ratio is 7.62%.

Curtiss-Wright 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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