First Commonwealth Financial Corp PA Sells 775 Shares of Curtiss-Wright Corporation $CW

First Commonwealth Financial Corp PA lessened its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 61.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 478 shares of the aerospace company’s stock after selling 775 shares during the period. First Commonwealth Financial Corp PA’s holdings in Curtiss-Wright were worth $260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Curtiss-Wright in the second quarter valued at about $270,731,000. Norges Bank bought a new position in shares of Curtiss-Wright during the second quarter valued at approximately $241,537,000. Munro Partners bought a new position in Curtiss-Wright in the second quarter worth approximately $78,000,000. AQR Capital Management LLC lifted its holdings in Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock worth $189,468,000 after buying an additional 122,048 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in Curtiss-Wright during the 3rd quarter valued at $62,320,000. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of CW stock opened at $654.64 on Monday. The stock has a market cap of $24.14 billion, a PE ratio of 50.87, a price-to-earnings-growth ratio of 3.20 and a beta of 0.91. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $730.12. The business has a 50-day simple moving average of $663.82 and a 200-day simple moving average of $586.07. 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 (NYSE:CW) last announced its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share for the quarter, beating the consensus estimate of $3.66 by $0.13. The company had revenue of $946.98 million during the quarter, compared to analysts’ expectations of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.Curtiss-Wright’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the business earned $3.27 earnings per share. On average, equities analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Announces Dividend

The business also recently announced 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. The ex-dividend date 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%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CW shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $748.00 price objective on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a research report on Monday, December 22nd. Stifel Nicolaus increased their price target on Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and issued a $760.00 price target on shares of Curtiss-Wright in a report on Friday, February 13th. Finally, Truist Financial set a $603.00 price target on Curtiss-Wright in a research note on Friday, January 9th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $663.17.

Insider Buying and Selling

In other news, VP Gary A. Ogilby sold 625 shares of the firm’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $624.32, for a total value of $390,200.00. Following the transaction, the vice president directly owned 2,571 shares of the company’s stock, valued at approximately $1,605,126.72. This trade represents a 19.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lynn M. Bamford sold 9,327 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 46,192 shares of the company’s stock, 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 a total of 17,269 shares of company stock worth $10,797,098 in the last quarter. 0.55% of the stock is owned by insiders.

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.