Man Group plc Decreases Stock Position in Curtiss-Wright Co. (NYSE:CW)

Man Group plc lowered its position in shares of Curtiss-Wright Co. (NYSE:CW - Free Report) by 65.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,117 shares of the aerospace company's stock after selling 3,984 shares during the period. Man Group plc's holdings in Curtiss-Wright were worth $751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Curtiss-Wright by 0.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,319 shares of the aerospace company's stock valued at $1,178,000 after buying an additional 29 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Curtiss-Wright by 10.6% in the 4th quarter. Harbour Investments Inc. now owns 312 shares of the aerospace company's stock valued at $111,000 after buying an additional 30 shares during the last quarter. Cornerstone Investment Partners LLC grew its position in shares of Curtiss-Wright by 3.6% in the 4th quarter. Cornerstone Investment Partners LLC now owns 918 shares of the aerospace company's stock valued at $326,000 after buying an additional 32 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Curtiss-Wright by 1.6% in the 4th quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company's stock valued at $753,000 after buying an additional 34 shares during the last quarter. Finally, GeoWealth Management LLC grew its position in shares of Curtiss-Wright by 15.6% in the 4th quarter. GeoWealth Management LLC now owns 318 shares of the aerospace company's stock valued at $113,000 after buying an additional 43 shares during the last quarter. Institutional investors own 82.71% of the company's stock.

Insider Activity

In other news, CFO K Christopher Farkas sold 4,780 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $350.00, for a total value of $1,673,000.00. Following the transaction, the chief financial officer now owns 9,253 shares in the company, valued at $3,238,550. This trade represents a 34.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lynn M. Bamford sold 3,131 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $325.41, for a total value of $1,018,858.71. Following the completion of the transaction, the chief executive officer now owns 42,887 shares in the company, valued at $13,955,858.67. This represents a 6.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,642 shares of company stock worth $3,581,107 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Curtiss-Wright Stock Up 0.6%

CW stock traded up $2.80 during trading on Wednesday, reaching $449.38. 449,971 shares of the stock were exchanged, compared to its average volume of 274,037. The firm's 50 day moving average is $349.37 and its 200 day moving average is $349.98. Curtiss-Wright Co. has a twelve month low of $258.85 and a twelve month high of $453.05. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The firm has a market cap of $16.92 billion, a P/E ratio of 42.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.04.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, topping analysts' consensus estimates of $2.39 by $0.43. Curtiss-Wright had a return on equity of 17.11% and a net margin of 12.98%. The business had revenue of $805.65 million for the quarter, compared to the consensus estimate of $767.32 million. During the same period in the prior year, the business earned $1.99 EPS. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts forecast that Curtiss-Wright Co. will post 12.32 EPS for the current year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be paid a $0.24 dividend. The ex-dividend date is Monday, June 16th. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.21. This represents a $0.96 annualized dividend and a dividend yield of 0.21%. Curtiss-Wright's dividend payout ratio is 8.54%.

Analyst Ratings Changes

A number of research firms have commented on CW. Robert W. Baird upped their price target on Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Truist Financial reduced their price target on Curtiss-Wright from $357.00 to $338.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen lowered Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Citigroup cut their target price on Curtiss-Wright from $450.00 to $424.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Stifel Nicolaus cut their target price on Curtiss-Wright from $331.00 to $309.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $404.29.

About Curtiss-Wright

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.