Burney Co. Reduces Stock Position in Curtiss-Wright Corporation $CW

Burney Co. cut its holdings in Curtiss-Wright Corporation (NYSE:CW) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,531 shares of the aerospace company’s stock after selling 2,868 shares during the period. Burney Co.’s holdings in Curtiss-Wright were worth $9,897,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC purchased a new position in Curtiss-Wright in the fourth quarter worth about $31,000. Larson Financial Group LLC raised its position in Curtiss-Wright by 53.8% during the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 21 shares during the period. Transamerica Financial Advisors LLC raised its position in Curtiss-Wright by 25.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $40,000 after purchasing an additional 15 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Curtiss-Wright in the 4th quarter valued at approximately $42,000. Finally, Elyxium Wealth LLC purchased a new position in shares of Curtiss-Wright in the 4th quarter worth approximately $43,000. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Up 4.3%

Shares of NYSE:CW opened at $793.04 on Tuesday. The firm has a market capitalization of $29.29 billion, a PE ratio of 58.10, a price-to-earnings-growth ratio of 3.52 and a beta of 0.86. The business has a 50 day simple moving average of $741.63 and a two-hundred day simple moving average of $689.46. Curtiss-Wright Corporation has a 1 year low of $463.00 and a 1 year high of $800.00. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The firm had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. During the same period in the prior year, the business posted $2.82 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts predict that Curtiss-Wright Corporation will post 15.17 EPS for the current year.

Curtiss-Wright Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a report on Friday, May 8th. Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday. Citigroup boosted 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. Finally, Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Curtiss-Wright presently has an average rating of “Moderate Buy” and an average price target of $749.67.

Insiders Place Their Bets

In other news, EVP John C. Watts sold 220 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were 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 in the company, valued at approximately $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the transaction, the vice president owned 2,172 shares in the company, valued at approximately $1,568,075.40. The trade was a 15.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,119 shares of company stock worth $2,257,998 over the last quarter. Company insiders own 0.51% of the company’s stock.

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.