Covea Finance Lowers Stock Position in Curtiss-Wright Corporation $CW

Covea Finance reduced its holdings in Curtiss-Wright Corporation (NYSE:CW) by 4.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 41,081 shares of the aerospace company’s stock after selling 1,900 shares during the quarter. Covea Finance’s holdings in Curtiss-Wright were worth $22,305,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in Curtiss-Wright in the 2nd quarter valued at approximately $27,000. Penserra Capital Management LLC purchased a new position in shares of Curtiss-Wright during the second quarter valued at approximately $29,000. 1 North Wealth Services LLC acquired a new stake in Curtiss-Wright during the first quarter worth approximately $32,000. West Oak Capital LLC acquired a new stake in Curtiss-Wright during the second quarter worth approximately $49,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in 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 last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Trading Down 0.3%

CW opened at $567.89 on Friday. The firm’s 50 day moving average is $560.38 and its 200-day moving average is $518.60. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $612.28. The company has a quick ratio of 1.17, a current ratio of 1.75 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $20.94 billion, a P/E ratio of 46.28, a P/E/G ratio of 2.98 and a beta of 0.93.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.12. Curtiss-Wright had a return on equity of 18.82% and a net margin of 13.78%.The company had revenue of $869.00 million during the quarter, compared to the consensus estimate of $869.03 million. During the same period last year, the firm earned $2.89 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. Analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, November 28th. Curtiss-Wright’s dividend payout ratio is presently 7.82%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $625.00 target price on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research report on Monday. Citigroup initiated coverage on Curtiss-Wright in a research report on Thursday, December 11th. They issued a “neutral” rating and a $607.00 target price on the stock. Wall Street Zen lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Stifel Nicolaus reduced their target price on shares of Curtiss-Wright from $587.00 to $584.00 and set a “hold” rating on the stock in a report on Tuesday, December 16th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and an average price target of $585.50.

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.