Curtiss-Wright Corporation $CW Stake Lowered by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its position in Curtiss-Wright Corporation (NYSE:CW) by 1.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 86,027 shares of the aerospace company’s stock after selling 1,298 shares during the period. Retirement Systems of Alabama’s holdings in Curtiss-Wright were worth $47,424,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Curtiss-Wright by 10.6% in the first quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company’s stock valued at $67,611,000 after acquiring an additional 20,379 shares during the period. Sivia Capital Partners LLC acquired a new position in Curtiss-Wright in the 2nd quarter valued at approximately $235,000. Global Retirement Partners LLC acquired a new stake in shares of Curtiss-Wright during the 2nd quarter worth approximately $313,000. CreativeOne Wealth LLC bought a new position in Curtiss-Wright in the second quarter worth $236,000. Finally, XTX Topco Ltd acquired a new stake in shares of Curtiss-Wright during the 2nd quarter valued at about $872,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Kevin Rayment sold 907 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $677.38, for a total value of $614,383.66. Following the completion of the sale, the chief operating officer directly owned 31,493 shares in the company, valued at approximately $21,332,728.34. This trade represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Robert F. Freda sold 140 shares of Curtiss-Wright stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $678.61, for a total value of $95,005.40. Following the transaction, the vice president owned 5,343 shares of the company’s stock, valued at $3,625,813.23. The trade was a 2.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,112 shares of company stock worth $14,768,527 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CW has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $748.00 target price on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Wall Street Zen upgraded shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $625.00 to $650.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $760.00 target price on shares of Curtiss-Wright in a report on Friday, February 13th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and a consensus price target of $663.17.

Curtiss-Wright Stock Performance

CW stock opened at $631.98 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.30. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $730.12. The company has a market cap of $23.33 billion, a P/E ratio of 49.10, a price-to-earnings-growth ratio of 3.23 and a beta of 0.91. The business’s fifty day moving average is $676.54 and its 200-day moving average is $601.11.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.66 by $0.13. The firm had revenue of $946.98 million for the quarter, compared to analyst estimates of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.27 earnings per share. Equities research analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 26th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, March 26th. 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.