Rockefeller Capital Management L.P. Reduces Stock Position in Curtiss-Wright Corporation $CW

Key Points

• Rockefeller Capital Management cut its Curtiss-Wright position by 74.1% in the fourth quarter, selling 31,544 shares and ending with 11,000 shares valued at about $6.06 million.
• Curtiss-Wright beat quarterly expectations, reporting EPS of $3.48 versus the $3.32 consensus and revenue of $913.69 million, up 13.4% year over year.
• The company also announced a quarterly dividend of $0.24 per share, while analysts currently rate the stock a Moderate Buy with a consensus target price of $746.67.

Rockefeller Capital Management L.P. lessened its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 74.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,000 shares of the aerospace company's stock after selling 31,544 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Curtiss-Wright were worth $6,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Curtiss-Wright during the fourth quarter valued at $31,000. Larson Financial Group LLC lifted its holdings in Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock valued at $33,000 after buying an additional 21 shares in the last quarter. Transamerica Financial Advisors LLC lifted its holdings in Curtiss-Wright by 25.9% during 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 in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Curtiss-Wright in the 4th quarter valued at about $42,000. Finally, Elyxium Wealth LLC bought a new position in Curtiss-Wright in the 4th quarter worth about $43,000. 82.71% of the stock is currently owned by institutional investors.

Curtiss-Wright Trading Down 2.6%

Shares of NYSE:CW opened at $747.45 on Friday. The company has a market capitalization of $27.61 billion, a PE ratio of 54.76, a P/E/G ratio of 3.56 and a beta of 0.85. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Curtiss-Wright Corporation has a 12-month low of $463.00 and a 12-month high of $800.00. The business's fifty day simple moving average is $737.23 and its 200-day simple moving average is $679.65.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share 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 firm had revenue of $913.69 million during the quarter, compared to analysts' expectations of $863.83 million. During the same period in the prior year, the business posted $2.82 EPS. The firm's quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts predict that Curtiss-Wright Corporation will post 15.17 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Monday, June 15th. Curtiss-Wright's payout ratio is 7.62%.

Insider Buying and Selling

In related news, VP Gary A. Ogilby sold 399 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the sale, the vice president 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the firm's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the completion of the sale, the executive vice president owned 3,962 shares of the company's stock, valued at approximately $2,983,029.42. This trade represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,119 shares of company stock worth $2,257,998 in the last 90 days. 0.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CW. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a research note on Wednesday, May 13th. Citigroup raised their price objective on Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a report on Monday, May 18th. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a report on Friday, May 8th. Finally, Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $746.67.

About Curtiss-Wright

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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