William Blair Investment Management LLC Trims Stock Position in Curtiss-Wright Corporation $CW

Key Points

• William Blair Investment Management LLC reduced its stake in Curtiss-Wright Corporation by 25.3%, now holding approximately 0.96% of the company, valued at nearly $177 million.
• Insider John C. Watts sold 1,110 shares of Curtiss-Wright stock, marking a 22.32% decrease in his ownership, resulting in total holdings worth about $1.9 million.
• Curtiss-Wright reported better-than-expected earnings, with a net revenue increase of 11.7% year-over-year, and it declared a quarterly dividend of $0.24.

William Blair Investment Management LLC cut its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 25.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 362,222 shares of the aerospace company's stock after selling 122,990 shares during the period. William Blair Investment Management LLC owned about 0.96% of Curtiss-Wright worth $176,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1 North Wealth Services LLC acquired a new position in shares of Curtiss-Wright in the 1st quarter valued at about $32,000. Private Trust Co. NA grew its holdings in Curtiss-Wright by 13,800.0% during the first quarter. Private Trust Co. NA now owns 139 shares of the aerospace company's stock worth $44,000 after acquiring an additional 138 shares during the period. West Oak Capital LLC purchased a new position in Curtiss-Wright during the second quarter valued at approximately $49,000. Tsfg LLC lifted its holdings in Curtiss-Wright by 112.7% in the first quarter. Tsfg LLC now owns 217 shares of the aerospace company's stock valued at $69,000 after acquiring an additional 115 shares during the period. Finally, Flaharty Asset Management LLC purchased a new stake in Curtiss-Wright in the 1st quarter worth approximately $69,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Curtiss-Wright

In related news, VP John C. Watts sold 1,110 shares of the business's stock in a transaction that occurred 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 sale, the vice president directly owned 3,863 shares in the company, valued at approximately $1,856,171.50. The trade was a 22.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.55% of the company's stock.

Curtiss-Wright Stock Down 1.0%

Shares of NYSE CW opened at $544.71 on Friday. The firm has a market cap of $20.52 billion, a price-to-earnings ratio of 45.97, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14. The company's 50-day simple moving average is $510.79 and its 200-day simple moving average is $452.61. 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 Corporation has a 52-week low of $266.88 and a 52-week high of $575.07.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The firm had revenue of $876.58 million during the quarter, compared to the consensus estimate of $855.10 million. During the same quarter in the prior year, the firm earned $2.67 EPS. The company's revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright's payout ratio is currently 8.10%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CW. Wall Street Zen lowered shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Stifel Nicolaus lifted their price objective on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a report on Friday, August 8th. Citigroup increased their target price on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Morgan Stanley raised their target price on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Truist Financial upped their price target on Curtiss-Wright from $463.00 to $525.00 and gave the stock a "hold" rating in a report on Wednesday. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Curtiss-Wright presently has a consensus rating of "Moderate Buy" and an average target price of $519.57.

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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