43,582 Curtiss-Wright Corporation $CW Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. cut its position in Curtiss-Wright Corporation (NYSE:CW) by 21.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,176 shares of the aerospace company’s stock after selling 43,582 shares during the period. Congress Asset Management Co. owned 0.42% of Curtiss-Wright worth $84,388,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Curtiss-Wright in the second quarter valued at approximately $3,448,649,000. Primecap Management Co. CA bought a new stake in Curtiss-Wright during the 2nd quarter worth approximately $390,106,000. Bank of New York Mellon Corp bought a new stake in Curtiss-Wright during the 2nd quarter worth approximately $270,458,000. Franklin Resources Inc. increased its holdings in Curtiss-Wright by 61.0% during the 4th quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company’s stock valued at $270,392,000 after purchasing an additional 185,887 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Curtiss-Wright during the 2nd quarter valued at $240,442,000. 82.71% of the stock is owned by institutional investors.

Curtiss-Wright Trading Up 2.3%

CW stock traded up $12.36 during trading on Tuesday, hitting $553.15. The company had a trading volume of 296,631 shares, compared to its average volume of 313,050. The firm has a 50-day moving average price of $617.82 and a 200-day moving average price of $690.82. Curtiss-Wright Corporation has a 12 month low of $521.66 and a 12 month high of $808.16. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 38.07, a PEG ratio of 2.46 and a beta of 0.88.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.10. The firm had revenue of $924.01 million for the quarter, compared to analyst estimates of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $3.23 EPS. As a group, analysts predict that Curtiss-Wright Corporation will post 15.27 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a $0.26 dividend. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, September 25th. Curtiss-Wright’s dividend payout ratio (DPR) is 7.16%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Wall Street Zen lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on Curtiss-Wright in a research note on Wednesday, August 12th. Piper Sandler began coverage on Curtiss-Wright in a report on Wednesday, September 2nd. They issued a “neutral” rating and a $665.00 price target for the company. Weiss Ratings downgraded shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Finally, Guggenheim initiated coverage on shares of Curtiss-Wright in a report on Monday, September 14th. They set a “buy” rating and a $786.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $768.25.

Insider Activity

In other Curtiss-Wright news, Director Larry D. Wyche sold 100 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $596.74, for a total transaction of $59,674.00. Following the completion of the sale, the director directly owned 1,414 shares of the company’s stock, valued at approximately $843,790.36. The trade was a 6.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John C. Watts sold 1,035 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $619.46, for a total transaction of $641,141.10. Following the transaction, the executive vice president owned 2,736 shares in the company, valued at approximately $1,694,842.56. The trade was a 27.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is owned by company insiders.

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.