Allspring Global Investments Holdings LLC Sells 47,131 Shares of Curtiss-Wright Corporation $CW

Allspring Global Investments Holdings LLC lowered its position in Curtiss-Wright Corporation (NYSE:CW) by 13.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 302,643 shares of the aerospace company’s stock after selling 47,131 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.80% of Curtiss-Wright worth $164,132,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CW. Twin Peaks Wealth Advisors LLC acquired a new position in Curtiss-Wright during the second quarter worth approximately $27,000. Penserra Capital Management LLC bought a new position in shares of Curtiss-Wright during the 2nd quarter worth approximately $29,000. 1 North Wealth Services LLC acquired a new position in shares of Curtiss-Wright during the 1st quarter worth approximately $32,000. West Oak Capital LLC bought a new stake in Curtiss-Wright in the 2nd quarter valued at $49,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Curtiss-Wright by 53.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 35 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CW. Weiss Ratings reiterated a “buy (b)” rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Morgan Stanley reissued an “overweight” rating and set a $660.00 price target on shares of Curtiss-Wright in a report on Tuesday, December 16th. Citigroup began coverage on Curtiss-Wright in a research note on Thursday, December 11th. They issued a “neutral” rating and a $607.00 price target for the company. Stifel Nicolaus lowered their price objective on Curtiss-Wright from $587.00 to $584.00 and set a “hold” rating on the stock in a research report on Tuesday, December 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $625.00 target price on shares of Curtiss-Wright in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $585.50.

Insider Activity

In other news, VP John C. Watts sold 118 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $575.00, for a total transaction of $67,850.00. Following the sale, the vice president owned 3,570 shares in the company, valued at $2,052,750. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Curtiss-Wright Stock Down 0.7%

Shares of NYSE:CW opened at $558.25 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $560.93 and a two-hundred day simple moving average of $521.33. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $612.28. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 2.95 and a beta of 0.93.

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

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.96 annualized dividend and a yield of 0.2%. Curtiss-Wright’s payout ratio is 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.