Allspring Global Investments Holdings LLC Lowers Stock Holdings in Curtiss-Wright Corporation $CW

Allspring Global Investments Holdings LLC trimmed its holdings in Curtiss-Wright Corporation (NYSE:CW) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,643 shares of the aerospace company’s stock after selling 47,131 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Curtiss-Wright were worth $164,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Edmond DE Rothschild Holding S.A. boosted its stake in Curtiss-Wright by 108.0% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,336 shares of the aerospace company’s stock valued at $1,141,000 after buying an additional 1,213 shares during the last quarter. Creative Planning increased its stake in Curtiss-Wright by 30.4% in the 2nd quarter. Creative Planning now owns 5,572 shares of the aerospace company’s stock worth $2,722,000 after acquiring an additional 1,300 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Curtiss-Wright by 914.7% during the 2nd quarter. Baird Financial Group Inc. now owns 20,679 shares of the aerospace company’s stock worth $10,103,000 after acquiring an additional 18,641 shares in the last quarter. Spire Wealth Management boosted its position in shares of Curtiss-Wright by 21.5% during the 2nd quarter. Spire Wealth Management now owns 549 shares of the aerospace company’s stock valued at $268,000 after acquiring an additional 97 shares during the last quarter. Finally, Massachusetts Wealth Management purchased a new position in shares of Curtiss-Wright in the second quarter valued at $266,000. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Trading Down 0.7%

Shares of CW opened at $558.25 on Wednesday. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 2.95 and a beta of 0.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.75 and a quick ratio of 1.17. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $612.28. The company has a 50-day moving average of $560.93 and a 200 day moving average of $521.33.

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

Curtiss-Wright Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Friday, November 28th. Curtiss-Wright’s payout ratio is presently 7.82%.

Insiders Place Their Bets

In other Curtiss-Wright news, VP John C. Watts sold 118 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $575.00, for a total transaction of $67,850.00. Following the transaction, the vice president directly owned 3,570 shares in the company, valued at $2,052,750. This represents a 3.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Citigroup started coverage on shares of Curtiss-Wright in a research report on Thursday, December 11th. They set a “neutral” rating and a $607.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 price target on shares of Curtiss-Wright in a report on Tuesday, December 16th. Wall Street Zen cut Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $625.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Curtiss-Wright currently has an average rating of “Moderate Buy” and a consensus target price of $585.50.

Curtiss-Wright Company 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.