Intech Investment Management LLC Lowers Stock Position in Curtiss-Wright Corporation $CW

Key Points

• Intech Investment Management cut its Curtiss-Wright stake by 43.8% in the fourth quarter, selling 9,368 shares and ending with 12,014 shares worth about $6.6 million.
• Curtiss-Wright beat quarterly expectations, reporting EPS of $3.48 versus $3.32 expected and revenue of $913.69 million, up 13.4% year over year. Analysts now see average EPS of $15.15 for the current fiscal year.
• Wall Street remains cautiously positive on CW, with a consensus rating of “Moderate Buy” and an average price target of $746.67, while the stock recently traded near its 52-week high.

Intech Investment Management LLC trimmed its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 43.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,014 shares of the aerospace company's stock after selling 9,368 shares during the period. Intech Investment Management LLC's holdings in Curtiss-Wright were worth $6,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new stake in Curtiss-Wright during the 3rd quarter worth $26,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Curtiss-Wright during the 4th quarter worth $31,000. Larson Financial Group LLC boosted its position in 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 purchasing an additional 21 shares during the period. Elyxium Wealth LLC purchased a new stake in Curtiss-Wright during the 4th quarter worth $43,000. Finally, Sunbelt Securities Inc. purchased a new stake in Curtiss-Wright during the 3rd quarter worth $43,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CW. Citigroup upped their price target on shares of Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $748.00 price target on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Morgan Stanley reaffirmed an "overweight" rating and set a $760.00 price target on shares of Curtiss-Wright in a research report on Friday, February 13th. Finally, Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Curtiss-Wright has an average rating of "Moderate Buy" and a consensus target price of $746.67.

Curtiss-Wright Stock Up 0.0%

Shares of NYSE CW opened at $747.99 on Friday. Curtiss-Wright Corporation has a 1 year low of $435.35 and a 1 year high of $760.72. The firm has a market cap of $27.63 billion, a price-to-earnings ratio of 54.80, a PEG ratio of 3.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52. The stock's 50-day simple moving average is $715.99 and its 200-day simple moving average is $651.82.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The business had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. During the same period in the previous year, the company earned $2.82 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that Curtiss-Wright Corporation will post 15.15 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright's payout ratio is presently 7.03%.

Insider Buying and Selling at Curtiss-Wright

In other news, EVP John C. Watts sold 220 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the sale, the executive vice president owned 3,962 shares in the company, valued at approximately $2,983,029.42. This represents a 5.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 252 shares of the company's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $689.14, for a total transaction of $173,663.28. Following the completion of the sale, the vice president owned 2,571 shares in the company, valued at approximately $1,771,778.94. This trade represents a 8.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 6,181 shares of company stock valued at $4,204,919. Company insiders own 0.51% of the company's stock.

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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