Curtiss-Wright Corporation $CW Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its holdings in Curtiss-Wright Corporation (NYSE:CW) by 6.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,103 shares of the aerospace company’s stock after selling 1,270 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Curtiss-Wright worth $13,011,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CW. Goldman Sachs Group Inc. increased its holdings in shares of Curtiss-Wright by 10.6% during the first quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company’s stock valued at $67,611,000 after purchasing an additional 20,379 shares during the period. Sivia Capital Partners LLC acquired a new stake in Curtiss-Wright in the second quarter worth about $235,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Curtiss-Wright by 53.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 35 shares during the period. Marshall Wace LLP bought a new position in Curtiss-Wright in the 2nd quarter valued at about $5,423,000. Finally, Cresset Asset Management LLC grew its position in Curtiss-Wright by 46.4% in the 2nd quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company’s stock valued at $705,000 after buying an additional 457 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

NYSE:CW opened at $725.11 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $745.76 and its 200 day moving average price is $711.52. Curtiss-Wright Corporation has a 52-week low of $464.91 and a 52-week high of $808.16. The firm has a market cap of $26.79 billion, a P/E ratio of 53.12, a PEG ratio of 3.32 and a beta of 0.87.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results 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 company had revenue of $913.69 million during the quarter, compared to the consensus estimate of $863.83 million. During the same period in the prior year, the company earned $2.82 EPS. Curtiss-Wright’s revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts predict that Curtiss-Wright Corporation will post 15.22 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio is currently 7.62%.

Analyst Upgrades and Downgrades

CW has been the topic of a number of recent analyst reports. Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Citigroup increased their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Morgan Stanley reissued an “overweight” rating and set a $860.00 target price on shares of Curtiss-Wright in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Curtiss-Wright currently has an average rating of “Moderate Buy” and a consensus price target of $773.67.

Insider Buying and Selling

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,500 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the transaction, the chief executive officer owned 48,134 shares in the company, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the transaction, the vice president owned 2,172 shares in the company, valued at approximately $1,568,075.40. This trade represents a 15.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 3,119 shares of company stock worth $2,257,998. Corporate insiders own 0.51% of the company’s stock.

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.