Pinnbrook Capital Management LP Sells 12,723 Shares of Curtiss-Wright Corporation $CW

Pinnbrook Capital Management LP cut its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 46.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,411 shares of the aerospace company’s stock after selling 12,723 shares during the period. Pinnbrook Capital Management LP’s holdings in Curtiss-Wright were worth $7,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in Curtiss-Wright by 10.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company’s stock valued at $67,611,000 after purchasing an additional 20,379 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Curtiss-Wright in the second quarter worth $235,000. Wedbush Securities Inc. bought a new stake in Curtiss-Wright during the second quarter valued at $209,000. Penserra Capital Management LLC bought a new stake in Curtiss-Wright during the second quarter valued at $29,000. Finally, Acadian Asset Management LLC grew its position in Curtiss-Wright by 113.5% during the second quarter. Acadian Asset Management LLC now owns 10,771 shares of the aerospace company’s stock worth $5,258,000 after buying an additional 5,725 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Curtiss-Wright

In other news, CEO Lynn M. Bamford sold 9,327 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.45, for a total value of $5,842,899.15. Following the transaction, the chief executive officer directly owned 46,192 shares of the company’s stock, valued at approximately $28,936,978.40. This trade represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Gary A. Ogilby sold 625 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $624.32, for a total transaction of $390,200.00. Following the completion of the sale, the vice president owned 2,571 shares of the company’s stock, valued at approximately $1,605,126.72. The trade was a 19.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,269 shares of company stock worth $10,797,098 over the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Curtiss-Wright Trading Down 3.8%

CW stock opened at $654.64 on Friday. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $730.12. The business’s 50-day moving average is $663.82 and its 200 day moving average is $584.74. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 50.87, a PEG ratio of 3.31 and a beta of 0.91.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (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 firm had revenue of $946.98 million for the quarter, compared to analyst estimates of $890.14 million. During the same period in the previous year, the company posted $3.27 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. On average, sell-side analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Curtiss-Wright from $661.00 to $718.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Truist Financial set a $603.00 price target on Curtiss-Wright in a research note on Friday, January 9th. Stifel Nicolaus lifted their price objective on Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $760.00 target price on shares of Curtiss-Wright in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and a consensus price target 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.