Wedge Capital Management L L P NC Has $68.62 Million Holdings in Curtiss-Wright Corporation $CW

Key Points

• Wedge Capital Management L L P NC reduced its holdings in Curtiss-Wright Corporation by 19.9%, now owning approximately $68.62 million worth of shares, making it the firm's 7th largest holding.
• Insider Selling: VP John C. Watts sold 1,110 shares at an average price of $480.50, representing a 22.32% decrease in his ownership of the stock.
• Quarterly Earnings: Curtiss-Wright reported earnings per share of $3.23 for the last quarter, exceeding estimates, and revenue increased by 11.7% compared to the previous year.

Wedge Capital Management L L P NC decreased its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 19.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 140,451 shares of the aerospace company's stock after selling 34,917 shares during the quarter. Curtiss-Wright comprises 1.2% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 7th largest holding. Wedge Capital Management L L P NC owned 0.37% of Curtiss-Wright worth $68,617,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CW. Focus Partners Wealth acquired a new stake in Curtiss-Wright in the 4th quarter worth approximately $241,000. ProShare Advisors LLC lifted its holdings in shares of Curtiss-Wright by 6.3% during the fourth quarter. ProShare Advisors LLC now owns 1,775 shares of the aerospace company's stock worth $630,000 after buying an additional 105 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Curtiss-Wright by 95.2% during the fourth quarter. Toronto Dominion Bank now owns 886 shares of the aerospace company's stock worth $314,000 after buying an additional 432 shares during the last quarter. State of Wyoming lifted its holdings in shares of Curtiss-Wright by 434.7% during the fourth quarter. State of Wyoming now owns 540 shares of the aerospace company's stock worth $192,000 after buying an additional 439 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Curtiss-Wright by 5.7% during the fourth quarter. Squarepoint Ops LLC now owns 904 shares of the aerospace company's stock worth $321,000 after buying an additional 49 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the transaction, the vice president directly owned 3,863 shares of the company's stock, valued at approximately $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CW. Citigroup upped their target price on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Morgan Stanley upped their target price on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Stifel Nicolaus upped their price target on Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Wall Street Zen cut Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Truist Financial decreased their target price on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a report on Friday, July 11th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $468.14.

Curtiss-Wright Stock Performance

Shares of Curtiss-Wright stock opened at $513.28 on Friday. The company has a market cap of $19.34 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 3.14 and a beta of 1.15. Curtiss-Wright Corporation has a 52 week low of $266.88 and a 52 week high of $525.84. The business has a 50 day moving average price of $489.80 and a 200-day moving average price of $422.60. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.10. The company had revenue of $876.58 million during the quarter, compared to analyst estimates of $855.10 million. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.Curtiss-Wright's quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.67 earnings per share. Equities analysts anticipate that Curtiss-Wright Corporation will post 12.32 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 Friday, October 10th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, September 26th. Curtiss-Wright's dividend payout ratio is 8.10%.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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