Martingale Asset Management L P Decreases Stock Holdings in Curtiss-Wright Corporation $CW

Martingale Asset Management L P decreased its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 12.0% during the third quarter, Holdings Channel reports. The firm owned 47,616 shares of the aerospace company’s stock after selling 6,503 shares during the quarter. Martingale Asset Management L P’s holdings in Curtiss-Wright were worth $25,853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp bought a new stake in Curtiss-Wright in the 3rd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Curtiss-Wright during the 2nd quarter valued at $27,000. Penserra Capital Management LLC purchased a new position in shares of Curtiss-Wright in the 2nd quarter worth $29,000. First Horizon Corp purchased a new position in shares of Curtiss-Wright in the 3rd quarter worth $34,000. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Curtiss-Wright by 8,800.0% in the third quarter. Cornerstone Planning Group LLC now owns 89 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

Shares of Curtiss-Wright stock opened at $680.54 on Friday. The stock has a market cap of $25.09 billion, a P/E ratio of 52.88, a P/E/G ratio of 3.37 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.44. The stock’s fifty day moving average is $662.19 and its 200 day moving average is $583.52. Curtiss-Wright Corporation has a one year low of $266.88 and a one year high of $730.12.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.13. The business had revenue of $946.98 million during the quarter, compared to analyst estimates of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.Curtiss-Wright’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.27 earnings per share. Sell-side analysts anticipate that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 26th will be paid a dividend of $0.24 per share. 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 payout ratio is 7.46%.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, VP Gary A. Ogilby sold 625 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $624.32, for a total transaction 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. The trade was a 19.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $1,649,753.22. Following the completion of the transaction, the chief operating officer owned 29,896 shares of the company’s stock, valued at approximately $18,724,761.68. The trade was a 8.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Truist Financial set a $603.00 price objective on Curtiss-Wright in a research report on Friday, January 9th. Stifel Nicolaus boosted 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. Citigroup upped their price target on shares of Curtiss-Wright from $661.00 to $718.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $748.00 price objective on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Curtiss-Wright has a consensus rating of “Moderate Buy” and a consensus target price of $663.17.

Curtiss-Wright 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.