Van ECK Associates Corp Cuts Stock Position in Curtiss-Wright Corporation $CW

Van ECK Associates Corp trimmed its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 6.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 688,901 shares of the aerospace company’s stock after selling 51,132 shares during the quarter. Van ECK Associates Corp’s holdings in Curtiss-Wright were worth $379,770,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its position 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 worth $67,611,000 after acquiring an additional 20,379 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Curtiss-Wright during the second quarter worth approximately $235,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Curtiss-Wright by 53.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 35 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Curtiss-Wright during the second quarter worth $5,423,000. Finally, Cresset Asset Management LLC lifted its holdings in shares of Curtiss-Wright by 46.4% during the second quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company’s stock worth $705,000 after purchasing an additional 457 shares during the period. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CW has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $748.00 price target on shares of Curtiss-Wright in a report on Tuesday, February 17th. Citigroup increased their price target on Curtiss-Wright from $728.00 to $775.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $760.00 price target on shares of Curtiss-Wright in a report on Friday, February 13th. Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a report on Friday, May 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $746.67.

Insiders Place Their Bets

In other news, VP Gary A. Ogilby sold 399 shares of the firm’s stock in a transaction 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 owned 2,172 shares in the company, valued at $1,568,075.40. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of the transaction, the executive vice president owned 3,962 shares of the company’s stock, valued at approximately $2,983,029.42. This represents a 5.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 9,080 shares of company stock valued at $6,297,278. Company insiders own 0.51% of the company’s stock.

Curtiss-Wright Trading Up 0.1%

Shares of CW stock opened at $758.19 on Friday. Curtiss-Wright Corporation has a fifty-two week low of $458.74 and a fifty-two week high of $768.65. The stock has a market cap of $28.01 billion, a P/E ratio of 55.54, a P/E/G ratio of 3.51 and a beta of 0.85. The business has a fifty day simple moving average of $726.95 and a 200-day simple moving average of $664.44. 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 (NYSE:CW) last announced 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 return on equity of 20.00% and a net margin of 14.17%.The business had revenue of $913.69 million during the quarter, compared to analysts’ expectations of $863.83 million. During the same quarter last year, the business posted $2.82 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, analysts forecast that Curtiss-Wright Corporation will post 15.15 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

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

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.