Victory Capital Management Inc. Lowers Stock Position in Curtiss-Wright Corporation $CW

Victory Capital Management Inc. decreased its holdings in Curtiss-Wright Corporation (NYSE:CW) by 11.4% in the 3rd quarter, Holdings Channel reports. The firm owned 153,045 shares of the aerospace company’s stock after selling 19,767 shares during the period. Victory Capital Management Inc.’s holdings in Curtiss-Wright were worth $83,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of CW. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Curtiss-Wright during the 3rd quarter valued at approximately $2,781,000. Edmond DE Rothschild Holding S.A. increased its holdings in shares of Curtiss-Wright by 108.0% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,336 shares of the aerospace company’s stock valued at $1,141,000 after purchasing an additional 1,213 shares during the period. Inscription Capital LLC increased its holdings in shares of Curtiss-Wright by 248.3% in the third quarter. Inscription Capital LLC now owns 2,553 shares of the aerospace company’s stock valued at $1,386,000 after purchasing an additional 1,820 shares during the period. Creative Planning raised its stake in shares of Curtiss-Wright by 30.4% during the second quarter. Creative Planning now owns 5,572 shares of the aerospace company’s stock worth $2,722,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in shares of Curtiss-Wright by 914.7% during the second quarter. Baird Financial Group Inc. now owns 20,679 shares of the aerospace company’s stock worth $10,103,000 after purchasing an additional 18,641 shares during the period. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Lynn M. Bamford sold 9,327 shares of the 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 sale, the chief executive officer directly owned 46,192 shares in the company, valued at $28,936,978.40. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gary A. Ogilby sold 625 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $624.32, for a total value of $390,200.00. Following the transaction, the vice president owned 2,571 shares of the company’s stock, valued at $1,605,126.72. This represents a 19.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 17,269 shares of company stock worth $10,797,098. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CW. Morgan Stanley reissued an “overweight” rating and issued a $760.00 price objective on shares of Curtiss-Wright in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $748.00 price target on shares of Curtiss-Wright in a report on Tuesday, February 17th. Wall Street Zen upgraded shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Citigroup boosted their target price on Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and an average target price of $663.17.

Curtiss-Wright Trading Down 4.7%

Shares of Curtiss-Wright stock opened at $679.35 on Friday. The company has a 50-day moving average of $648.68 and a two-hundred day moving average of $576.25. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $730.12. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The stock has a market cap of $25.05 billion, a PE ratio of 52.79, a price-to-earnings-growth ratio of 3.47 and a beta of 0.91.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.66 by $0.13. The business had revenue of $946.98 million for 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%.The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.27 EPS. On average, research analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 26th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, March 26th. Curtiss-Wright’s payout ratio is 7.46%.

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.