Van ECK Associates Corp Has $401.79 Million Stock Holdings in Curtiss-Wright Corporation $CW

Key Points

• Van ECK Associates Corp increased its stake in Curtiss‑Wright by 5.3% to 740,033 shares — worth about $401.79 million, roughly 2.01% of the company.
• Curtiss‑Wright beat estimates for the quarter with EPS $3.79 (vs. $3.66 expected) and revenue of $946.98 million, up 14.9% year‑over‑year.
• Corporate insiders have been selling stock recently: the CFO sold 2,665 shares and the CEO sold 9,327 shares on Feb 4, and insiders disposed of 17,269 shares (~$10.8M) in the last 90 days; insiders now own 0.55% of the company.

Van ECK Associates Corp grew its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 740,033 shares of the aerospace company's stock after purchasing an additional 37,069 shares during the quarter. Van ECK Associates Corp owned approximately 2.01% of Curtiss-Wright worth $401,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp bought a new position in Curtiss-Wright in the 3rd quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in Curtiss-Wright during the second quarter valued at about $27,000. Penserra Capital Management LLC bought a new stake in Curtiss-Wright during the second quarter valued at about $29,000. First Horizon Corp acquired a new stake in shares of Curtiss-Wright in the third quarter valued at about $34,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Curtiss-Wright by 53.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company's stock worth $49,000 after purchasing an additional 35 shares during the period. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Curtiss-Wright

In related news, CFO K Christopher Farkas sold 2,665 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,669,169.45. Following the completion of the sale, the chief financial officer owned 7,358 shares in the company, valued at $4,608,536.14. This trade represents a 26.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lynn M. Bamford sold 9,327 shares of the business's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.45, for a total transaction of $5,842,899.15. Following the completion of the transaction, the chief executive officer owned 46,192 shares in the company, valued at approximately $28,936,978.40. This trade represents a 16.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 17,269 shares of company stock valued at $10,797,098. Corporate insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

CW has been the subject of several recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Truist Financial set a $603.00 price target on Curtiss-Wright in a report on Friday, January 9th. Stifel Nicolaus increased their price objective on Curtiss-Wright from $625.00 to $650.00 and gave the company a "hold" rating in a research report on Friday, February 13th. Wall Street Zen upgraded shares of Curtiss-Wright from a "hold" rating to a "buy" rating in a research note on Saturday, January 10th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $760.00 target price on shares of Curtiss-Wright in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $663.17.

Curtiss-Wright Price Performance

Shares of CW stock opened at $706.33 on Tuesday. The company has a market capitalization of $26.04 billion, a P/E ratio of 54.88, a P/E/G ratio of 3.32 and a beta of 0.91. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $730.12. The stock has a 50 day moving average of $653.87 and a two-hundred day moving average of $580.50.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 EPS for the quarter, beating analysts' consensus estimates of $3.66 by $0.13. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The business had revenue of $946.98 million during the quarter, compared to analyst estimates of $890.14 million. During the same period in the prior year, the company posted $3.27 earnings per share. Curtiss-Wright's revenue was up 14.9% on a year-over-year basis. As a group, equities analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. Curtiss-Wright's dividend payout ratio (DPR) is currently 7.46%.

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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