Gabelli Funds LLC Cuts Stake in Curtiss-Wright Corporation $CW

Gabelli Funds LLC lessened its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 1.9% during the third quarter, HoldingsChannel reports. The firm owned 100,836 shares of the aerospace company’s stock after selling 2,000 shares during the period. Gabelli Funds LLC’s holdings in Curtiss-Wright were worth $54,748,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aptus Capital Advisors LLC grew its stake in shares of Curtiss-Wright by 5.1% in the third quarter. Aptus Capital Advisors LLC now owns 35,279 shares of the aerospace company’s stock valued at $19,154,000 after buying an additional 1,696 shares in the last quarter. Barclays PLC lifted its position in Curtiss-Wright by 116.6% during the 3rd quarter. Barclays PLC now owns 83,649 shares of the aerospace company’s stock worth $45,416,000 after acquiring an additional 45,030 shares in the last quarter. KCM Investment Advisors LLC lifted its position in Curtiss-Wright by 130.1% during the 3rd quarter. KCM Investment Advisors LLC now owns 10,434 shares of the aerospace company’s stock worth $5,665,000 after acquiring an additional 5,900 shares in the last quarter. Advisory Alpha LLC purchased a new position in Curtiss-Wright in the 3rd quarter worth approximately $437,000. Finally, Cresset Asset Management LLC boosted its holdings in Curtiss-Wright by 71.2% in the 3rd quarter. Cresset Asset Management LLC now owns 2,469 shares of the aerospace company’s stock worth $1,341,000 after acquiring an additional 1,027 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CW has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $748.00 target price on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Truist Financial set a $603.00 price target on shares of Curtiss-Wright in a report on Friday, January 9th. Wall Street Zen raised shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $760.00 price objective on shares of Curtiss-Wright in a report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $663.17.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, CFO K Christopher Farkas sold 2,665 shares of the 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 transaction, the chief financial officer directly owned 7,358 shares in the company, valued at $4,608,536.14. This represents a 26.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert F. Freda sold 418 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $626.95, for a total transaction of $262,065.10. Following the transaction, the vice president directly owned 5,187 shares of the company’s stock, valued at approximately $3,251,989.65. This represents a 7.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,269 shares of company stock valued at $10,797,098 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $681.58 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.30. Curtiss-Wright Corporation has a fifty-two week low of $266.88 and a fifty-two week high of $730.12. The business has a 50 day moving average price of $650.99 and a two-hundred day moving average price of $577.56. The firm has a market cap of $25.13 billion, a PE ratio of 52.96, a price-to-earnings-growth ratio of 3.31 and a beta of 0.91.

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

Curtiss-Wright Dividend Announcement

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

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.