Marks Group Wealth Management Inc Sells 2,930 Shares of Curtiss-Wright Corporation $CW

Key Points

• Marks Group Wealth Management trimmed its Curtiss-Wright position by 13.6% in the fourth quarter, selling 2,930 shares and leaving it with 18,649 shares valued at about $10.3 million.
• Analysts remain moderately bullish on NYSE:CW, with a consensus rating of “Moderate Buy” and an average price target of $746.67. Recent targets ranged from $724 to $870, with several firms reiterating buy/overweight views.
• Curtiss-Wright reported strong quarterly results, beating earnings and revenue expectations, while also announcing a quarterly dividend of $0.24 per share payable July 6. Insider selling continued, including transactions by the COO and EVP in recent months.

Marks Group Wealth Management Inc decreased its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 13.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,649 shares of the aerospace company's stock after selling 2,930 shares during the quarter. Curtiss-Wright accounts for approximately 1.0% of Marks Group Wealth Management Inc's holdings, making the stock its 17th biggest holding. Marks Group Wealth Management Inc owned approximately 0.05% of Curtiss-Wright worth $10,281,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new stake in shares of Curtiss-Wright in the 3rd quarter worth about $26,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Curtiss-Wright in the 4th quarter worth about $31,000. Larson Financial Group LLC grew its holdings in shares of Curtiss-Wright by 53.8% in 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 last quarter. Elyxium Wealth LLC bought a new stake in shares of Curtiss-Wright in the 4th quarter worth about $43,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of Curtiss-Wright in the 3rd quarter worth about $43,000. Institutional investors own 82.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CW shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $748.00 target price on shares of Curtiss-Wright in a report on Tuesday, February 17th. Morgan Stanley reiterated an "overweight" rating and set a $760.00 price target on shares of Curtiss-Wright in a research report on Friday, February 13th. Stifel Nicolaus set a $724.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $746.67.

Insider Activity

In other Curtiss-Wright news, COO Kevin Rayment sold 907 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $677.38, for a total transaction of $614,383.66. Following the completion of the sale, the chief operating officer directly owned 31,493 shares of the company's stock, valued at approximately $21,332,728.34. The trade was a 2.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John C. Watts sold 220 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the sale, the executive vice president directly owned 3,962 shares of the company's stock, valued at $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,181 shares of company stock worth $4,204,919. Corporate insiders own 0.51% of the company's stock.

Curtiss-Wright Stock Down 1.8%

Shares of NYSE CW opened at $720.12 on Tuesday. The firm's 50-day simple moving average is $721.01 and its 200 day simple moving average is $659.59. The company has a market cap of $26.60 billion, a price-to-earnings ratio of 52.76, a price-to-earnings-growth ratio of 3.40 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 Corporation has a 12-month low of $443.00 and a 12-month high of $760.72.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.16. The firm 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 quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.82 EPS. On average, research analysts expect that Curtiss-Wright Corporation will post 15.15 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright's payout ratio is currently 7.03%.

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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