Curtiss-Wright Corporation $CW Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 49.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 86,272 shares of the aerospace company’s stock after selling 86,093 shares during the quarter. Principal Financial Group Inc.’s holdings in Curtiss-Wright were worth $58,762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its position in Curtiss-Wright by 19.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 2,133 shares of the aerospace company’s stock worth $1,516,000 after buying an additional 352 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in shares of Curtiss-Wright by 57.8% in the 1st quarter. Diversify Wealth Management LLC now owns 8,480 shares of the aerospace company’s stock worth $5,904,000 after acquiring an additional 3,106 shares during the period. Pittenger & Anderson Inc. boosted its holdings in shares of Curtiss-Wright by 39.7% in the first quarter. Pittenger & Anderson Inc. now owns 1,021 shares of the aerospace company’s stock valued at $695,000 after acquiring an additional 290 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of Curtiss-Wright by 36.8% in the first quarter. Citizens Financial Group Inc. RI now owns 636 shares of the aerospace company’s stock valued at $433,000 after acquiring an additional 171 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Curtiss-Wright by 1,568.3% during the first quarter. Fifth Third Bancorp now owns 18,451 shares of the aerospace company’s stock worth $12,567,000 after acquiring an additional 17,345 shares during the period. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Curtiss-Wright

In related news, VP Gary A. Ogilby sold 399 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of the transaction, the vice president directly owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of Curtiss-Wright stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the transaction, the executive vice president directly owned 3,962 shares of the company’s stock, valued at approximately $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,119 shares of company stock valued at $2,257,998 in the last quarter. 0.51% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Stifel Nicolaus set a $724.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Morgan Stanley reissued an “overweight” rating and set a $860.00 target price on shares of Curtiss-Wright in a research note on Wednesday. Weiss Ratings downgraded Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird set a $870.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $766.33.

Curtiss-Wright Stock Performance

Shares of CW opened at $708.83 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. Curtiss-Wright Corporation has a 52-week low of $463.00 and a 52-week high of $808.16. The company has a 50-day simple moving average of $746.21 and a 200-day simple moving average of $700.32. The company has a market capitalization of $26.18 billion, a PE ratio of 51.93, a P/E/G ratio of 3.28 and a beta of 0.86.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping 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 the consensus estimate of $863.83 million. During the same quarter in the previous year, the firm earned $2.82 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. Equities research analysts predict that Curtiss-Wright Corporation will post 15.23 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Monday, June 15th. Curtiss-Wright’s dividend payout ratio (DPR) is presently 7.62%.

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.