Insider Selling: Curtiss-Wright (NYSE:CW) CEO Sells $1,804,300.00 in Stock

Curtiss-Wright Corporation (NYSE:CW) CEO Lynn Bamford sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the transaction, the chief executive officer directly owned 48,134 shares in the company, valued at $34,739,270.48. The trade was a 4.94% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Curtiss-Wright Stock Performance

Shares of CW stock opened at $758.19 on Friday. The firm has a market capitalization of $28.01 billion, a PE ratio of 55.54, a price-to-earnings-growth ratio of 3.51 and a beta of 0.85. The firm has a fifty day simple moving average of $726.95 and a two-hundred day simple moving average of $664.44. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Curtiss-Wright Corporation has a 12 month low of $458.74 and a 12 month high of $768.65.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The firm had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. During the same period last year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. Analysts forecast that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright’s dividend payout ratio (DPR) is 7.03%.

Institutional Investors Weigh In On Curtiss-Wright

A number of institutional investors and hedge funds have recently bought and sold shares of CW. Norges Bank purchased a new stake in shares of Curtiss-Wright during the 4th quarter valued at $290,633,000. Corient Private Wealth LLC increased its position in shares of Curtiss-Wright by 6,169.8% during the 4th quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company’s stock valued at $224,108,000 after purchasing an additional 400,047 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Curtiss-Wright by 61.0% during the 4th quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company’s stock valued at $270,392,000 after purchasing an additional 185,887 shares during the last quarter. Axiom Investors LLC DE purchased a new stake in shares of Curtiss-Wright during the 4th quarter valued at $76,892,000. Finally, AQR Capital Management LLC increased its position in shares of Curtiss-Wright by 45.8% during the 2nd quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock valued at $189,468,000 after purchasing an additional 122,048 shares during the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CW has been the topic of a number of recent research reports. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $760.00 price objective on shares of Curtiss-Wright in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research note on Wednesday, May 13th. Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a research report on Friday, May 8th. Finally, Citigroup increased their price target on Curtiss-Wright from $728.00 to $775.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $746.67.

About Curtiss-Wright

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.