Radnor Capital Management LLC Sells 1,268 Shares of Curtiss-Wright Corporation $CW

Radnor Capital Management LLC reduced its stake in Curtiss-Wright Corporation (NYSE:CW) by 20.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,814 shares of the aerospace company’s stock after selling 1,268 shares during the quarter. Radnor Capital Management LLC’s holdings in Curtiss-Wright were worth $2,618,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Curtiss-Wright in the second quarter valued at approximately $3,448,649,000. Primecap Management Co. CA acquired a new position in Curtiss-Wright during the second quarter worth $390,106,000. Bank of New York Mellon Corp purchased a new position in shares of Curtiss-Wright during the second quarter worth $270,458,000. William Blair Investment Management LLC purchased a new position in shares of Curtiss-Wright during the second quarter worth $240,442,000. Finally, First Trust Advisors LP boosted its position in shares of Curtiss-Wright by 19.9% during the first quarter. First Trust Advisors LP now owns 206,021 shares of the aerospace company’s stock worth $140,325,000 after buying an additional 34,191 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

Shares of CW opened at $464.02 on Friday. Curtiss-Wright Corporation has a twelve month low of $453.42 and a twelve month high of $808.16. The firm’s fifty day simple moving average is $557.88 and its 200-day simple moving average is $673.00. The firm has a market capitalization of $17.14 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.95 and a beta of 0.88. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The business had revenue of $924.01 million during the quarter, compared to analysts’ expectations of $926.17 million. During the same period in the previous year, the company earned $3.23 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts forecast that Curtiss-Wright Corporation will post 15.33 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, September 25th. This represents a $1.04 annualized dividend and a dividend yield of 0.2%. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s payout ratio is currently 7.16%.

Insider Transactions at Curtiss-Wright

In other news, EVP John Watts sold 1,035 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value 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. This represents a 27.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Larry D. Wyche sold 100 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $596.74, for a total value of $59,674.00. Following the sale, the director directly owned 1,414 shares in the company, valued at $843,790.36. This trade represents a 6.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CW. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on Curtiss-Wright in a report on Wednesday, August 12th. Piper Sandler decreased their target price on Curtiss-Wright from $665.00 to $586.00 and set a “neutral” rating on the stock in a research note on Friday. Guggenheim assumed coverage on Curtiss-Wright in a report on Monday, September 14th. They set a “buy” rating and a $786.00 target price for the company. Morgan Stanley dropped their target price on Curtiss-Wright from $860.00 to $625.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Finally, Weiss Ratings downgraded Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $676.38.

About Curtiss-Wright

Curtiss-Wright Corporation (NYSE: CW) is a diversified industrial company that provides highly engineered products and services to the aerospace, defense, commercial nuclear power, and general industrial markets. The company designs and manufactures equipment used in applications that require reliable performance in demanding operating environments.

Its products and technologies include motion-control systems, valves, pumps, actuation equipment, sensors, data-acquisition systems, embedded computing products, and aircraft structural components.