Massachusetts Financial Services Co. MA Purchases 39,515 Shares of Curtiss-Wright Corporation $CW

Key Points

• Massachusetts Financial Services increased its stake in Curtiss-Wright by 5.4%, acquiring 39,515 shares to hold 768,260 shares (about 2.08% of the company) worth roughly $423.5 million at quarter-end.
• Insiders have been selling: CEO Lynn M. Bamford sold 9,327 shares for about $5.84 million and CFO K. Christopher Farkas sold 2,665 shares for about $1.67 million on Feb. 4, and insiders sold 22,717 shares (~$14.53 million) over the last 90 days, leaving insiders with roughly 0.51% ownership.
• Curtiss‑Wright beat quarterly estimates with $3.79 EPS (vs. $3.66) and $947 million revenue (up 14.9% YoY), announced a $0.24 quarterly dividend, and carries a consensus analyst rating of Moderate Buy with a $664.83 target price.

Massachusetts Financial Services Co. MA boosted its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 768,260 shares of the aerospace company's stock after acquiring an additional 39,515 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.08% of Curtiss-Wright worth $423,519,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Curtiss-Wright by 1.2% during the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company's stock valued at $780,091,000 after acquiring an additional 16,962 shares during the period. TD Asset Management Inc boosted its holdings in Curtiss-Wright by 0.3% during the third quarter. TD Asset Management Inc now owns 791,531 shares of the aerospace company's stock valued at $429,754,000 after purchasing an additional 2,153 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Curtiss-Wright by 5.3% during the third quarter. Van ECK Associates Corp now owns 740,033 shares of the aerospace company's stock valued at $401,794,000 after purchasing an additional 37,069 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Curtiss-Wright by 25.5% during the third quarter. AQR Capital Management LLC now owns 487,675 shares of the aerospace company's stock valued at $262,828,000 after purchasing an additional 99,182 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Curtiss-Wright by 15.9% during the third quarter. American Century Companies Inc. now owns 394,204 shares of the aerospace company's stock valued at $214,029,000 after purchasing an additional 54,197 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 9,327 shares of the company's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $626.45, for a total transaction of $5,842,899.15. Following the transaction, the chief executive officer owned 46,192 shares of the company's stock, valued at approximately $28,936,978.40. This represents a 16.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO K Christopher Farkas sold 2,665 shares of the company's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total value of $1,669,169.45. Following the transaction, the chief financial officer directly owned 7,358 shares in the company, valued at approximately $4,608,536.14. This represents a 26.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,717 shares of company stock worth $14,533,791 over the last ninety days. 0.51% of the stock is owned by insiders.

Curtiss-Wright Stock Up 0.5%

Shares of CW opened at $726.20 on Friday. The company has a market capitalization of $26.80 billion, a P/E ratio of 56.43, a PEG ratio of 3.53 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 1.00. Curtiss-Wright Corporation has a one year low of $305.85 and a one year high of $739.99. The business's 50 day simple moving average is $685.23 and its 200-day simple moving average is $612.59.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 EPS for the quarter, topping the consensus estimate of $3.66 by $0.13. The business had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.Curtiss-Wright's revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.27 EPS. As a group, sell-side analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, March 26th. Curtiss-Wright's payout ratio is presently 7.46%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CW. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $748.00 price objective on shares of Curtiss-Wright in a report on Tuesday, February 17th. Wall Street Zen raised Curtiss-Wright from a "hold" rating to a "buy" rating in a report on Saturday, January 10th. Morgan Stanley reaffirmed an "overweight" rating and set a $760.00 price objective on shares of Curtiss-Wright in a report on Friday, February 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Finally, Stifel Nicolaus lifted their price objective on Curtiss-Wright from $625.00 to $650.00 and gave the company a "hold" rating in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $664.83.

Curtiss-Wright Company 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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