Pinnbrook Capital Management LP Decreases Stock Holdings in Curtiss-Wright Corporation $CW

Key Points

• Pinnbrook Capital Management cut its Curtiss-Wright stake by 56.1% in the fourth quarter, leaving it with 6,330 shares worth about $3.49 million.
• Insider selling continued, with vice presidents George P. Mcdonald and Gary A. Ogilby both trimming holdings; insiders sold 5,961 shares worth about $4.04 million over the last 90 days.
• Despite the selling, Curtiss-Wright reported better-than-expected earnings and revenue for the quarter, raised its annual outlook expectations among analysts, and announced a $0.24 quarterly dividend payable July 6.

Pinnbrook Capital Management LP reduced its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 56.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,330 shares of the aerospace company's stock after selling 8,081 shares during the period. Pinnbrook Capital Management LP's holdings in Curtiss-Wright were worth $3,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Curtiss-Wright in the third quarter valued at $2,781,000. SG Americas Securities LLC lifted its position in Curtiss-Wright by 738.8% in the fourth quarter. SG Americas Securities LLC now owns 26,003 shares of the aerospace company's stock valued at $14,335,000 after acquiring an additional 22,903 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Curtiss-Wright in the third quarter valued at $37,812,000. Grove Bank & Trust purchased a new stake in Curtiss-Wright in the fourth quarter valued at $1,104,000. Finally, Fisher Asset Management LLC lifted its position in Curtiss-Wright by 7.2% in the third quarter. Fisher Asset Management LLC now owns 120,535 shares of the aerospace company's stock valued at $65,443,000 after acquiring an additional 8,095 shares during the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP George P. Mcdonald sold 151 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $678.07, for a total transaction of $102,388.57. Following the transaction, the vice president owned 4,210 shares of the company's stock, valued at approximately $2,854,674.70. This represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Gary A. Ogilby sold 252 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $689.14, for a total transaction of $173,663.28. Following the transaction, the vice president directly owned 2,571 shares in the company, valued at $1,771,778.94. The trade was a 8.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 5,961 shares of company stock valued at $4,039,279. 0.51% of the stock is owned by company insiders.

Curtiss-Wright Trading Up 0.1%

Shares of CW opened at $727.31 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm's 50-day moving average is $708.57 and its two-hundred day moving average is $645.67. Curtiss-Wright Corporation has a twelve month low of $412.92 and a twelve month high of $760.72. The firm has a market capitalization of $26.87 billion, a P/E ratio of 53.28, a PEG ratio of 3.37 and a beta of 0.86.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results 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. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The company had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. During the same period in the prior year, the business posted $2.82 earnings per share. The firm's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts predict that Curtiss-Wright Corporation will post 15.15 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th 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 Monday, June 15th. Curtiss-Wright's dividend payout ratio is 7.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Citigroup lifted their price objective on shares of Curtiss-Wright from $728.00 to $775.00 and gave the company a "neutral" rating in a research note on Monday. Morgan Stanley restated an "overweight" rating and issued a $760.00 price objective on shares of Curtiss-Wright in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $748.00 price objective on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Finally, Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Curtiss-Wright presently has an average rating of "Moderate Buy" and an average target price of $746.67.

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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