Munro Partners Trims Stock Holdings in Curtiss-Wright Corporation $CW

Key Points

• Munro Partners sharply cut its Curtiss-Wright position in the fourth quarter, selling 144,751 shares and reducing its stake by 88.5% to 18,820 shares worth about $10.4 million.
• Curtiss-Wright reported strong quarterly results, posting EPS of $3.48 versus $3.32 expected and revenue of $913.69 million, up 13.4% from a year earlier.
• The stock has drawn a moderately bullish analyst view, with a consensus rating of “Moderate Buy” and an average price target of $746.67, while insiders recently sold shares in Rule 10b5-1 transactions.

Munro Partners reduced its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 88.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,820 shares of the aerospace company's stock after selling 144,751 shares during the period. Munro Partners owned approximately 0.05% of Curtiss-Wright worth $10,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Transamerica Financial Advisors LLC raised its holdings in Curtiss-Wright by 25.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock valued at $40,000 after buying an additional 15 shares during the period. IFP Advisors Inc grew its position in Curtiss-Wright by 2.3% in the 4th quarter. IFP Advisors Inc now owns 698 shares of the aerospace company's stock valued at $385,000 after acquiring an additional 16 shares in the last quarter. Summit Financial LLC grew its position in Curtiss-Wright by 2.3% in the 4th quarter. Summit Financial LLC now owns 697 shares of the aerospace company's stock valued at $384,000 after acquiring an additional 16 shares in the last quarter. Clearstead Advisors LLC grew its position in Curtiss-Wright by 1.6% in the 3rd quarter. Clearstead Advisors LLC now owns 1,067 shares of the aerospace company's stock valued at $579,000 after acquiring an additional 17 shares in the last quarter. Finally, Mayflower Financial Advisors LLC grew its position in Curtiss-Wright by 2.9% in the 4th quarter. Mayflower Financial Advisors LLC now owns 611 shares of the aerospace company's stock valued at $337,000 after acquiring an additional 17 shares in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Performance

Shares of Curtiss-Wright stock opened at $762.18 on Tuesday. Curtiss-Wright Corporation has a one year low of $458.74 and a one year high of $772.98. The company has a market cap of $28.15 billion, a PE ratio of 55.84, a P/E/G ratio of 3.51 and a beta of 0.85. 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 business has a 50-day simple moving average of $728.28 and a 200-day simple moving average of $666.72.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 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 during the quarter, compared to the consensus estimate of $863.83 million. During the same period in the previous year, the company posted $2.82 earnings per share. The business's revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright's payout ratio is currently 7.03%.

Wall Street Analysts Forecast Growth

CW has been the subject of several research reports. Stifel Nicolaus set a $724.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $748.00 target price on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Citigroup lifted their target price on Curtiss-Wright from $728.00 to $775.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Finally, Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $746.67.

Insider Transactions at Curtiss-Wright

In related news, VP Gary A. Ogilby sold 399 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of the transaction, the vice president directly owned 2,172 shares of the company's stock, valued at $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the transaction, the chief executive officer directly owned 48,134 shares of the company's stock, valued at $34,739,270.48. This trade represents a 4.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 3,371 shares of company stock valued at $2,431,662. 0.51% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.