Gamco Investors INC. ET AL Decreases Stake in Curtiss-Wright Corporation $CW

Gamco Investors INC. ET AL cut its stake in Curtiss-Wright Corporation (NYSE:CW) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 133,573 shares of the aerospace company’s stock after selling 3,175 shares during the period. Curtiss-Wright accounts for about 0.7% of Gamco Investors INC. ET AL’s portfolio, making the stock its 23rd largest position. Gamco Investors INC. ET AL’s holdings in Curtiss-Wright were worth $72,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Atlantic Union Bankshares Corp purchased a new position in shares of Curtiss-Wright in the third quarter worth $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Curtiss-Wright during the second quarter worth $27,000. Penserra Capital Management LLC purchased a new stake in shares of Curtiss-Wright during the second quarter valued at $29,000. First Horizon Corp acquired a new position in shares of Curtiss-Wright in the 3rd quarter valued at $34,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Curtiss-Wright by 53.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Trading Up 0.4%

NYSE CW opened at $681.58 on Friday. The company has a market capitalization of $25.13 billion, a PE ratio of 52.96, a P/E/G ratio of 3.31 and a beta of 0.91. The company has a fifty day moving average of $650.99 and a 200 day moving average of $577.56. Curtiss-Wright Corporation has a 1 year low of $266.88 and a 1 year high of $730.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 1.00.

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, topping the consensus estimate of $3.66 by $0.13. The company had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm earned $3.27 EPS. Research analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

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 paid a $0.24 dividend. The ex-dividend date is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio is presently 7.46%.

Insider Activity

In other Curtiss-Wright news, VP Robert F. Freda sold 418 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $626.95, for a total value of $262,065.10. Following the completion of the transaction, the vice president directly owned 5,187 shares of the company’s stock, valued at approximately $3,251,989.65. The trade was a 7.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kevin Rayment sold 2,634 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total value of $1,649,753.22. Following the completion of the sale, the chief operating officer owned 29,896 shares in the company, valued at approximately $18,724,761.68. This represents a 8.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 17,269 shares of company stock valued at $10,797,098 over the last 90 days. Company insiders own 0.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CW. Stifel Nicolaus lifted their price target on Curtiss-Wright from $625.00 to $650.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Citigroup raised their price objective on Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $760.00 target price on shares of Curtiss-Wright in a report on Friday, February 13th. Finally, Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $663.17.

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.