Whittier Trust Co. Reduces Stock Position in Curtiss-Wright Corporation $CW

Key Points

• Whittier Trust Co. trimmed its Curtiss-Wright stake by 2.4% in the first quarter, selling 1,518 shares and ending with 61,260 shares valued at about $42.8 million.
• Curtiss-Wright beat earnings and revenue expectations in its latest quarter, posting $3.48 EPS on $913.69 million in revenue, with revenue up 13.4% year over year.
• Wall Street remains constructive overall, with a Moderate Buy consensus and a $749.67 average price target, while the stock recently traded near $758.94 after reaching a 52-week high of $800.00.

Whittier Trust Co. reduced its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,260 shares of the aerospace company's stock after selling 1,518 shares during the period. Whittier Trust Co. owned approximately 0.17% of Curtiss-Wright worth $42,828,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Curtiss-Wright by 1.2% during the 3rd quarter. State Street Corp now owns 1,436,161 shares of the aerospace company's stock valued at $780,091,000 after purchasing an additional 16,962 shares during the period. Invesco Ltd. lifted its holdings in Curtiss-Wright by 7.9% during the 4th quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company's stock worth $671,231,000 after purchasing an additional 88,688 shares in the last quarter. Geode Capital Management LLC boosted its stake in Curtiss-Wright by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company's stock worth $464,130,000 after purchasing an additional 47,287 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Curtiss-Wright by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company's stock valued at $423,519,000 after buying an additional 39,515 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Curtiss-Wright by 5.3% during the 3rd quarter. Van ECK Associates Corp now owns 740,033 shares of the aerospace company's stock valued at $401,794,000 after buying an additional 37,069 shares in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings downgraded shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Citigroup boosted their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a research note on Wednesday. Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a report on Friday, May 8th. Finally, Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $749.67.

Curtiss-Wright Price Performance

Curtiss-Wright stock opened at $758.94 on Monday. Curtiss-Wright Corporation has a 52 week low of $463.00 and a 52 week high of $800.00. The business has a 50-day simple moving average of $740.28 and a 200 day simple moving average of $687.71. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. The stock has a market cap of $28.04 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 3.52 and a beta of 0.86.

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 for the quarter, beating the consensus estimate of $3.32 by $0.16. The firm had revenue of $913.69 million for the quarter, compared to analysts' expectations of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The company's revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 EPS. On average, research analysts forecast that Curtiss-Wright Corporation will post 15.17 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be given a $0.24 dividend. 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 dividend payout ratio is 7.62%.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of the transaction, the vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the completion of the transaction, the executive vice president directly owned 3,962 shares in the company, valued at $2,983,029.42. The trade was a 5.26% decrease in their position. 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 have sold 3,119 shares of company stock valued at $2,257,998 over the last three months. 0.51% of the stock is owned by corporate insiders.

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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