Primecap Management Co. CA Cuts Stock Position in Curtiss-Wright Corporation $CW

Primecap Management Co. CA trimmed its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 9.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 619,650 shares of the aerospace company’s stock after selling 64,190 shares during the period. Primecap Management Co. CA’s holdings in Curtiss-Wright were worth $336,433,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new stake in Curtiss-Wright in the third quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Curtiss-Wright in the 2nd quarter valued at $27,000. Penserra Capital Management LLC bought a new stake in Curtiss-Wright in the second quarter worth $29,000. First Horizon Corp bought a new position in shares of Curtiss-Wright during the third quarter valued at about $34,000. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Curtiss-Wright by 8,800.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 89 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Insider Buying and Selling

In other news, VP Gary A. Ogilby sold 625 shares of the business’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $624.32, for a total value of $390,200.00. Following the completion of the transaction, the vice president owned 2,571 shares in the company, valued at $1,605,126.72. The trade was a 19.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lynn M. Bamford sold 9,327 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $626.45, for a total value of $5,842,899.15. Following the sale, the chief executive officer directly owned 46,192 shares in the company, valued at $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. Insiders sold 17,269 shares of company stock worth $10,797,098 over the last 90 days. 0.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CW has been the subject of a number of analyst reports. Truist Financial set a $603.00 price objective on Curtiss-Wright in a research note on Friday, January 9th. Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a report on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $760.00 target price on shares of Curtiss-Wright in a research note on Friday, February 13th. Finally, Citigroup upped their target price on Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Curtiss-Wright has a consensus rating of “Moderate Buy” and an average price target of $663.17.

Curtiss-Wright Stock Down 2.0%

Shares of NYSE:CW opened at $698.13 on Thursday. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $719.05. The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of 54.24, a PEG ratio of 3.47 and a beta of 0.93. The stock has a fifty day simple moving average of $631.65 and a two-hundred day simple moving average of $568.02. 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 (NYSE:CW) last posted its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.13. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The firm had revenue of $946.98 million during the quarter, compared to analyst estimates of $890.14 million. During the same quarter in the previous year, the firm earned $3.27 EPS. Curtiss-Wright’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, research analysts anticipate that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

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

Curtiss-Wright Company 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.