Congress Asset Management Co. Reduces Stake in Curtiss-Wright Corporation $CW

Congress Asset Management Co. lessened its holdings in Curtiss-Wright Corporation (NYSE:CW) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 269,885 shares of the aerospace company’s stock after selling 31,374 shares during the quarter. Curtiss-Wright comprises approximately 1.0% of Congress Asset Management Co.’s investment portfolio, making the stock its 19th largest holding. Congress Asset Management Co. owned 0.73% of Curtiss-Wright worth $148,779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CW. SG Americas Securities LLC boosted its holdings in shares of Curtiss-Wright by 738.8% in the 4th quarter. SG Americas Securities LLC now owns 26,003 shares of the aerospace company’s stock valued at $14,335,000 after acquiring an additional 22,903 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Curtiss-Wright by 2,573.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 40,923 shares of the aerospace company’s stock worth $22,560,000 after acquiring an additional 39,392 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Curtiss-Wright by 16.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,667 shares of the aerospace company’s stock worth $8,115,000 after purchasing an additional 1,965 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in Curtiss-Wright by 99.7% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,232 shares of the aerospace company’s stock valued at $723,000 after purchasing an additional 615 shares during the period. Finally, Grove Bank & Trust acquired a new position in Curtiss-Wright during the fourth quarter valued at $1,104,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Curtiss-Wright

In other news, VP Gary A. Ogilby sold 625 shares of the 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 transaction, the vice president owned 2,571 shares in the company, valued at $1,605,126.72. This trade represents a 19.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John C. Watts sold 652 shares of Curtiss-Wright stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $625.57, for a total transaction of $407,871.64. Following the completion of the sale, the executive vice president directly owned 3,890 shares in the company, valued at $2,433,467.30. This represents a 14.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 23,112 shares of company stock worth $14,768,527. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CW has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $748.00 price target on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $760.00 target price on shares of Curtiss-Wright in a report on Friday, February 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Curtiss-Wright in a research report on Monday, December 22nd. Finally, Truist Financial set a $603.00 price target on Curtiss-Wright in a research report on Friday, January 9th. 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, Curtiss-Wright presently has an average rating of “Moderate Buy” and an average price target of $663.17.

Curtiss-Wright Trading Up 2.7%

Shares of Curtiss-Wright stock opened at $689.44 on Tuesday. The firm has a 50-day simple moving average of $674.43 and a two-hundred day simple moving average of $594.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.44. Curtiss-Wright Corporation has a fifty-two week low of $266.88 and a fifty-two week high of $730.12. The company has a market cap of $25.42 billion, a P/E ratio of 53.57, a price-to-earnings-growth ratio of 3.27 and a beta of 0.91.

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

Curtiss-Wright Announces Dividend

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

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.