Citigroup Inc. Sells 1,500 Shares of Curtiss-Wright Corporation $CW

Citigroup Inc. trimmed its holdings in shares of Curtiss-Wright Corporation (NYSE:CW) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,517 shares of the aerospace company’s stock after selling 1,500 shares during the period. Citigroup Inc. owned approximately 0.12% of Curtiss-Wright worth $24,713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S bought a new position in Curtiss-Wright in the 3rd quarter worth $2,781,000. Edmond DE Rothschild Holding S.A. raised its stake in shares of Curtiss-Wright by 108.0% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 2,336 shares of the aerospace company’s stock worth $1,141,000 after buying an additional 1,213 shares during the period. Inscription Capital LLC lifted its position in shares of Curtiss-Wright by 248.3% during the 3rd quarter. Inscription Capital LLC now owns 2,553 shares of the aerospace company’s stock valued at $1,386,000 after buying an additional 1,820 shares in the last quarter. Creative Planning grew its stake in shares of Curtiss-Wright by 30.4% during the 2nd quarter. Creative Planning now owns 5,572 shares of the aerospace company’s stock valued at $2,722,000 after acquiring an additional 1,300 shares during the period. Finally, Baird Financial Group Inc. increased its holdings in Curtiss-Wright by 914.7% in the 2nd quarter. Baird Financial Group Inc. now owns 20,679 shares of the aerospace company’s stock worth $10,103,000 after acquiring an additional 18,641 shares in the last quarter. 82.71% of the stock is owned by institutional investors.

Curtiss-Wright Stock Down 2.0%

Shares of NYSE:CW opened at $698.13 on Thursday. 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’s 50 day moving average is $631.65 and its 200 day moving average is $568.02. The stock has a market cap of $25.74 billion, a P/E ratio of 54.24, a price-to-earnings-growth ratio of 3.47 and a beta of 0.93. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $719.05.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 EPS for the quarter, topping the consensus estimate of $3.66 by $0.13. The firm had revenue of $946.98 million during 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%.The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.27 EPS. Sell-side analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors 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 yield of 0.1%. The ex-dividend date of this dividend is Thursday, March 26th. Curtiss-Wright’s dividend payout ratio (DPR) is 7.46%.

Insider Buying and Selling

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 9,327 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $626.45, for a total value of $5,842,899.15. Following the sale, the chief executive officer owned 46,192 shares in the company, valued at approximately $28,936,978.40. This represents a 16.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Gary A. Ogilby sold 625 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $624.32, for a total transaction of $390,200.00. Following the sale, the vice president directly owned 2,571 shares in the company, valued at $1,605,126.72. The trade was a 19.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,269 shares of company stock valued at $10,797,098 in the last three months. 0.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CW shares. Wall Street Zen raised shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Truist Financial set a $603.00 target price on shares of Curtiss-Wright in a research note on Friday, January 9th. Stifel Nicolaus increased their price target on Curtiss-Wright from $625.00 to $650.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and set a $760.00 price target on shares of Curtiss-Wright in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $748.00 price objective on shares of Curtiss-Wright in a research note on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Curtiss-Wright has an average 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.