Covea Finance Trims Holdings in Curtiss-Wright Corporation $CW

Covea Finance decreased its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 11.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,281 shares of the aerospace company’s stock after selling 4,800 shares during the period. Covea Finance owned 0.10% of Curtiss-Wright worth $20,001,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CW. Norges Bank purchased a new stake in shares of Curtiss-Wright in the second quarter worth $241,537,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Curtiss-Wright by 31.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 728,745 shares of the aerospace company’s stock valued at $395,665,000 after buying an additional 174,592 shares in the last quarter. Munro Partners purchased a new position in shares of Curtiss-Wright during the 2nd quarter valued at $78,000,000. AQR Capital Management LLC boosted its holdings in Curtiss-Wright by 45.8% in the 2nd quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock worth $189,468,000 after buying an additional 122,048 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in Curtiss-Wright in the 3rd quarter worth $62,320,000. 82.71% of the stock is currently owned by institutional investors.

Curtiss-Wright Trading Down 3.0%

Shares of Curtiss-Wright stock opened at $671.17 on Friday. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $730.12. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $673.13 and a 200-day moving average price of $591.64. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 52.15, a PEG ratio of 3.37 and a beta of 0.91.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 EPS for the quarter, topping analysts’ consensus estimates of $3.66 by $0.13. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The company had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. During the same period in the previous year, the business earned $3.27 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 26th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, March 26th. Curtiss-Wright’s dividend payout ratio is 7.46%.

Insider Activity

In related news, CFO K Christopher Farkas sold 2,665 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,669,169.45. Following the sale, the chief financial officer owned 7,358 shares of the company’s stock, valued at $4,608,536.14. This represents a 26.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gary A. Ogilby sold 625 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $624.32, for a total transaction of $390,200.00. Following the transaction, the vice president owned 2,571 shares of the company’s stock, valued at $1,605,126.72. This trade represents a 19.56% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,230 shares of company stock worth $14,836,377. 0.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on CW shares. Truist Financial set a $603.00 price target on Curtiss-Wright in a report on Friday, January 9th. Citigroup upped their price objective on Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $748.00 target price on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Finally, Wall Street Zen raised shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $663.17.

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.