Systematic Financial Management LP Decreases Stake in Curtiss-Wright Corporation $CW

Key Points

• Systematic Financial Management LP cut its Curtiss-Wright stake by 24.7% in the fourth quarter, selling 10,042 shares and leaving it with 30,641 shares valued at about $16.9 million.
• Curtiss-Wright reported better-than-expected quarterly results, posting EPS of $3.48 versus $3.32 expected and revenue of $913.69 million versus $863.83 million expected, with revenue up 13.4% year over year.
• The company also declared a quarterly dividend of $0.24 per share, while analysts currently rate the stock a consensus Moderate Buy with an average price target of $746.67.

Systematic Financial Management LP reduced its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 24.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,641 shares of the aerospace company's stock after selling 10,042 shares during the period. Systematic Financial Management LP owned approximately 0.08% of Curtiss-Wright worth $16,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. IFP Advisors Inc lifted its stake in shares of Curtiss-Wright by 2.3% in the fourth quarter. IFP Advisors Inc now owns 698 shares of the aerospace company's stock worth $385,000 after buying an additional 16 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of Curtiss-Wright by 1.6% in the third quarter. Clearstead Advisors LLC now owns 1,067 shares of the aerospace company's stock worth $579,000 after buying an additional 17 shares in the last quarter. Mayflower Financial Advisors LLC lifted its stake in shares of Curtiss-Wright by 2.9% in the fourth quarter. Mayflower Financial Advisors LLC now owns 611 shares of the aerospace company's stock worth $337,000 after buying an additional 17 shares in the last quarter. Huntington National Bank lifted its stake in shares of Curtiss-Wright by 9.5% in the third quarter. Huntington National Bank now owns 208 shares of the aerospace company's stock worth $113,000 after buying an additional 18 shares in the last quarter. Finally, Lisanti Capital Growth LLC lifted its stake in shares of Curtiss-Wright by 0.7% in the fourth quarter. Lisanti Capital Growth LLC now owns 2,845 shares of the aerospace company's stock worth $1,568,000 after buying an additional 20 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Price Performance

Curtiss-Wright stock opened at $730.37 on Friday. The company's 50 day simple moving average is $709.33 and its 200-day simple moving average is $646.26. The company has a market capitalization of $26.98 billion, a price-to-earnings ratio of 53.51, a price-to-earnings-growth ratio of 3.39 and a beta of 0.86. Curtiss-Wright Corporation has a 1 year low of $413.35 and a 1 year high of $760.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.32 by $0.16. The business had revenue of $913.69 million for 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 period in the previous year, the firm earned $2.82 EPS. As a group, equities research analysts expect that Curtiss-Wright Corporation will post 15.15 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright's payout ratio is 7.03%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CW shares. Morgan Stanley restated an "overweight" rating and set a $760.00 price objective on shares of Curtiss-Wright in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $748.00 price target on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Stifel Nicolaus set a $724.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $746.67.

Insiders Place Their Bets

In other news, CFO K Christopher Farkas sold 918 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $677.46, for a total value of $621,908.28. Following the sale, the chief financial officer directly owned 5,518 shares of the company's stock, valued at approximately $3,738,224.28. The trade was a 14.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gary A. Ogilby sold 252 shares of the business'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 completion of the sale, the vice president directly owned 2,571 shares in the company, valued at $1,771,778.94. This trade represents a 8.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 5,961 shares of company stock worth $4,039,279. Insiders own 0.51% of the company's stock.

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.

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.