Sei Investments Co. Lowers Stock Holdings in Curtiss-Wright Corporation $CW

Key Points

• Sei Investments cut its Curtiss-Wright stake by 25.6% in Q1, though it still held 83,859 shares valued at about $57.1 million. Institutional investors remain heavily involved, with about 82.71% of the stock owned by institutions.
• Insiders have been selling shares: EVP John C. Watts and VP Gary A. Ogilby both sold stock under pre-arranged 10b5-1 plans, and insiders have sold 3,119 shares worth about $2.26 million over the last three months.
• Curtiss-Wright reported strong quarterly results, beating EPS and revenue estimates and raising analysts’ attention. The company also paid a quarterly dividend, while Wall Street’s consensus rating remains Moderate Buy with an average target price of $773.67.

Sei Investments Co. reduced its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 25.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,859 shares of the aerospace company's stock after selling 28,902 shares during the period. Sei Investments Co. owned approximately 0.23% of Curtiss-Wright worth $57,117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CW. 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 worth $40,000 after acquiring an additional 15 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Curtiss-Wright by 2.3% during the fourth quarter. IFP Advisors Inc now owns 698 shares of the aerospace company's stock valued at $385,000 after purchasing an additional 16 shares during the last quarter. Summit Financial LLC raised its holdings in shares of Curtiss-Wright by 2.3% during the fourth quarter. Summit Financial LLC now owns 697 shares of the aerospace company's stock valued at $384,000 after purchasing an additional 16 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in Curtiss-Wright by 2.9% during the fourth quarter. Mayflower Financial Advisors LLC now owns 611 shares of the aerospace company's stock valued at $337,000 after purchasing an additional 17 shares during the period. Finally, VestGen Investment Management lifted its position in Curtiss-Wright by 0.9% during the fourth quarter. VestGen Investment Management now owns 1,870 shares of the aerospace company's stock valued at $1,031,000 after purchasing an additional 17 shares during the period. 82.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP John C. Watts sold 220 shares of the 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 $2,983,029.42. This represents a 5.26% 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, VP Gary A. Ogilby sold 399 shares of the firm's stock in a transaction 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 sale, the vice president directly owned 2,172 shares of the company's stock, valued at $1,568,075.40. The trade was a 15.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,119 shares of company stock worth $2,257,998 in the last three months. Corporate insiders own 0.51% of the company's stock.

Curtiss-Wright Trading Down 0.0%

CW stock opened at $749.68 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. Curtiss-Wright Corporation has a 1-year low of $464.91 and a 1-year high of $808.16. The business has a 50 day simple moving average of $745.86 and a two-hundred day simple moving average of $706.41. The company has a market capitalization of $27.69 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 3.44 and a beta of 0.86.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating the consensus estimate of $3.32 by $0.16. The business had revenue of $913.69 million during the quarter, compared to the consensus estimate of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business's revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.82 EPS. Research analysts anticipate that Curtiss-Wright Corporation will post 15.22 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were issued a $0.24 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright's dividend payout ratio is presently 7.62%.

Analyst Upgrades and Downgrades

CW has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a report on Monday, July 20th. Robert W. Baird set a $870.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings raised shares of Curtiss-Wright from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. Citigroup increased their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 1st. Finally, Morgan Stanley reissued an "overweight" rating and issued a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Curtiss-Wright has a consensus rating of "Moderate Buy" and an average target price of $773.67.

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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