Principal Financial Group Inc. Decreases Stock Position in Curtiss-Wright Corporation $CW

Principal Financial Group Inc. lowered its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 21.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 178,177 shares of the aerospace company’s stock after selling 49,484 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Curtiss-Wright worth $96,739,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Transcend Capital Advisors LLC grew its holdings in Curtiss-Wright by 16.2% during the 3rd quarter. Transcend Capital Advisors LLC now owns 1,199 shares of the aerospace company’s stock valued at $651,000 after purchasing an additional 167 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in Curtiss-Wright by 575.0% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 135 shares of the aerospace company’s stock valued at $74,000 after buying an additional 115 shares during the last quarter. Arizona State Retirement System boosted its position in Curtiss-Wright by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 11,152 shares of the aerospace company’s stock valued at $6,055,000 after buying an additional 152 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Curtiss-Wright by 5.9% during the third quarter. Foundations Investment Advisors LLC now owns 792 shares of the aerospace company’s stock valued at $430,000 after acquiring an additional 44 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in shares of Curtiss-Wright by 6.0% during the third quarter. TD Waterhouse Canada Inc. now owns 12,084 shares of the aerospace company’s stock worth $6,570,000 after acquiring an additional 680 shares during the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John C. Watts sold 288 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $600.00, for a total transaction of $172,800.00. Following the completion of the transaction, the executive vice president owned 3,188 shares in the company, valued at $1,912,800. The trade was a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 513 shares of company stock valued at $302,586. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

CW has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Truist Financial set a $603.00 target price on Curtiss-Wright in a research note on Friday, January 9th. Citigroup raised their price target on shares of Curtiss-Wright from $607.00 to $661.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. 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. Finally, Stifel Nicolaus set a $625.00 price objective on shares of Curtiss-Wright in a report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Curtiss-Wright currently has an average rating of “Moderate Buy” and a consensus price target of $612.33.

Curtiss-Wright Stock Performance

Shares of CW opened at $663.30 on Tuesday. The stock has a market capitalization of $24.46 billion, a PE ratio of 54.06, a price-to-earnings-growth ratio of 2.99 and a beta of 0.92. The business’s fifty day moving average price is $589.81 and its 200 day moving average price is $546.45. 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 12-month low of $266.88 and a 12-month high of $673.19.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.12. Curtiss-Wright had a net margin of 13.78% and a return on equity of 18.82%. The company had revenue of $869.00 million for the quarter, compared to analysts’ expectations of $869.03 million. During the same period in the prior year, the company earned $2.89 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th 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 Friday, November 28th. Curtiss-Wright’s dividend payout ratio is presently 7.82%.

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.