Curtiss-Wright Corporation $CW Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 31.8% during the third quarter, Holdings Channel reports. The firm owned 138,030 shares of the aerospace company’s stock after selling 64,232 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Curtiss-Wright were worth $75,063,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Curtiss-Wright during the 2nd quarter worth $3,448,649,000. Concurrent Investment Advisors LLC increased its stake in shares of Curtiss-Wright by 220.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,073 shares of the aerospace company’s stock valued at $2,329,000 after buying an additional 2,113 shares during the period. Nicholas Investment Partners LP acquired a new stake in shares of Curtiss-Wright in the 2nd quarter valued at $4,737,000. Amundi lifted its stake in shares of Curtiss-Wright by 47.6% during the second quarter. Amundi now owns 154,668 shares of the aerospace company’s stock valued at $117,201,000 after acquiring an additional 49,907 shares during the period. Finally, National Pension Service raised its holdings in Curtiss-Wright by 2,974.9% during the 2nd quarter. National Pension Service now owns 63,928 shares of the aerospace company’s stock worth $48,442,000 after purchasing an additional 61,849 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors.

Curtiss-Wright Price Performance

Curtiss-Wright stock opened at $497.74 on Wednesday. The stock’s fifty day moving average price is $535.03 and its two-hundred day moving average price is $666.64. The firm has a market cap of $18.38 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 2.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12. Curtiss-Wright Corporation has a one year low of $453.42 and a one year high of $808.16.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.10. The company had revenue of $924.01 million for the quarter, compared to analyst estimates of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.23 EPS. As a group, research analysts expect that Curtiss-Wright Corporation will post 15.33 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CW. Citigroup cut their target price on shares of Curtiss-Wright from $793.00 to $622.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Wall Street Zen downgraded shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on shares of Curtiss-Wright in a report on Wednesday, August 12th. Guggenheim initiated coverage on shares of Curtiss-Wright in a research note on Monday, September 14th. They issued a “buy” rating and a $786.00 price objective on the stock. Finally, Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $676.38.

Insider Transactions at Curtiss-Wright

In related news, EVP John C. Watts sold 1,035 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value of $641,141.10. Following the sale, the executive vice president directly owned 2,736 shares in the company, valued at $1,694,842.56. This represents a 27.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Larry D. Wyche sold 100 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $596.74, for a total transaction of $59,674.00. Following the sale, the director directly owned 1,414 shares of the company’s stock, valued at $843,790.36. This represents a 6.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

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.