Curtiss-Wright Corporation $CW Stock Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its stake in Curtiss-Wright Corporation (NYSE:CW) by 19.3% in the 3rd quarter, Holdings Channel reports. The firm owned 13,162 shares of the aerospace company’s stock after selling 3,156 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Curtiss-Wright were worth $7,158,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Curtiss-Wright during the 2nd quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Curtiss-Wright during the 2nd quarter worth approximately $30,000. Fiduciary Financial Advisors acquired a new position in Curtiss-Wright during the 2nd quarter worth approximately $31,000. Elevation Wealth Partners LLC boosted its holdings in Curtiss-Wright by 237.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 54 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 38 shares during the period. Finally, Signature Equity Partners LLC boosted its holdings in Curtiss-Wright by 140.0% in the 1st quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 35 shares during the period. 82.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Deutsche Bank set a $801.00 target price on shares of Curtiss-Wright in a research report on Wednesday, August 12th. Guggenheim decreased their target price on shares of Curtiss-Wright from $786.00 to $674.00 and set a “buy” rating for the company in a research note on Friday, November 6th. Wall Street Zen lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Morgan Stanley lowered their price target on shares of Curtiss-Wright from $860.00 to $625.00 and set an “overweight” rating for the company in a report on Friday, October 16th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $636.75.

Curtiss-Wright Trading Down 0.5%

NYSE:CW opened at $476.93 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 1.42. Curtiss-Wright Corporation has a one year low of $432.70 and a one year high of $808.16. The business’s 50-day simple moving average is $517.32 and its 200 day simple moving average is $660.00. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 1.98 and a beta of 0.94.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, November 4th. The aerospace company reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.18. The business had revenue of $953.00 million during the quarter, compared to analyst estimates of $935.09 million. Curtiss-Wright had a net margin of 14.86% and a return on equity of 21.08%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.31 earnings per share. As a group, sell-side analysts predict that Curtiss-Wright Corporation will post 15.51 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.2%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, September 25th. Curtiss-Wright’s dividend payout ratio (DPR) is 6.94%.

Insiders Place Their Bets

In related news, EVP John C. Watts sold 1,035 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the completion of the transaction, the executive vice president owned 2,736 shares in the company, valued at $1,694,842.56. The trade was a 27.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Larry D. Wyche sold 100 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the sale, the director directly owned 1,414 shares in the company, valued at $843,790.36. This represents a 6.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company’s stock.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation is a diversified industrial company that develops and manufactures engineered products and provides services for the aerospace, defense, power-generation and general industrial markets. Its offerings include actuation and control systems, sensors, valves and pumps, and embedded computing and electronics. The company serves customers around the world, including aircraft manufacturers and operators, defense contractors, government agencies, and commercial nuclear power providers.