Peapack Gladstone Financial Corp Sells 925 Shares of Curtiss-Wright Corporation $CW

Peapack Gladstone Financial Corp cut its holdings in shares of Curtiss-Wright Corporation (NYSE:CW) by 71.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 377 shares of the aerospace company’s stock after selling 925 shares during the period. Peapack Gladstone Financial Corp’s holdings in Curtiss-Wright were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Curtiss-Wright by 1.2% in the 3rd quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after purchasing an additional 16,962 shares during the period. Geode Capital Management LLC raised its stake in shares of Curtiss-Wright by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock valued at $464,130,000 after purchasing an additional 47,287 shares during the period. TD Asset Management Inc raised its stake in shares of Curtiss-Wright by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 791,531 shares of the aerospace company’s stock valued at $429,754,000 after purchasing an additional 2,153 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Curtiss-Wright by 5.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company’s stock valued at $423,519,000 after purchasing an additional 39,515 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Curtiss-Wright by 5.3% in the 3rd quarter. Van ECK Associates Corp now owns 740,033 shares of the aerospace company’s stock valued at $401,794,000 after purchasing an additional 37,069 shares during the period. 82.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO K Christopher Farkas sold 918 shares of Curtiss-Wright stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $677.46, for a total value of $621,908.28. Following the sale, the chief financial officer owned 5,518 shares of the company’s stock, valued at approximately $3,738,224.28. The trade was a 14.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gary A. Ogilby sold 252 shares of Curtiss-Wright stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $689.14, for a total value of $173,663.28. Following the completion of the sale, the vice president directly owned 2,571 shares in the company, valued at approximately $1,771,778.94. This represents a 8.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 6,181 shares of company stock valued at $4,204,919 in the last quarter. 0.51% of the stock is currently owned by corporate insiders.

Curtiss-Wright Price Performance

NYSE:CW opened at $743.16 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52. The stock’s 50-day simple moving average is $719.30 and its 200 day simple moving average is $656.97. The company has a market cap of $27.45 billion, a P/E ratio of 54.44, a P/E/G ratio of 3.40 and a beta of 0.85. Curtiss-Wright Corporation has a 52-week low of $443.00 and a 52-week high of $760.72.

Curtiss-Wright (NYSE:CW) last released its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. The business had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.Curtiss-Wright’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 earnings per share. As a group, sell-side analysts forecast that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright’s payout ratio is currently 7.62%.

Wall Street Analysts Forecast Growth

CW has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $748.00 price target on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Citigroup lifted their price target on Curtiss-Wright from $728.00 to $775.00 and gave the company a “neutral” rating in a research note on Monday, May 18th. Finally, Robert W. Baird set a $870.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $746.67.

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.