Allspring Global Investments Holdings LLC Buys 17,164 Shares of Curtiss-Wright Corporation $CW

Allspring Global Investments Holdings LLC increased its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 319,807 shares of the aerospace company’s stock after buying an additional 17,164 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.87% of Curtiss-Wright worth $183,051,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp bought a new position in shares of Curtiss-Wright during the 3rd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Curtiss-Wright during the 2nd quarter worth about $27,000. Larson Financial Group LLC lifted its holdings in Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 21 shares during the last quarter. First Horizon Corp acquired a new position in Curtiss-Wright in the third quarter valued at about $34,000. Finally, Sunbelt Securities Inc. acquired a new position in Curtiss-Wright in the third quarter valued at about $43,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $748.00 price target on shares of Curtiss-Wright in a report on Tuesday, February 17th. Morgan Stanley reiterated an “overweight” rating and issued a $760.00 price objective on shares of Curtiss-Wright in a research report on Friday, February 13th. Finally, Stifel Nicolaus increased their target price on Curtiss-Wright from $625.00 to $650.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $663.17.

Insider Activity

In related news, COO Kevin Rayment sold 907 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $677.38, for a total value of $614,383.66. Following the sale, the chief operating officer directly owned 31,493 shares in the company, valued at $21,332,728.34. This trade represents a 2.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John C. Watts sold 220 shares of Curtiss-Wright stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $678.11, for a total transaction of $149,184.20. Following the transaction, the executive vice president directly owned 4,182 shares in the company, valued at approximately $2,835,856.02. This represents a 5.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 23,112 shares of company stock worth $14,768,527. Corporate insiders own 0.55% of the company’s stock.

Curtiss-Wright Stock Down 4.8%

NYSE:CW opened at $631.98 on Tuesday. The company has a market cap of $23.33 billion, a price-to-earnings ratio of 49.10, a P/E/G ratio of 3.23 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.44. The stock’s fifty day moving average price is $676.54 and its two-hundred day moving average price is $601.11. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $730.12.

Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 EPS for the quarter, beating the consensus estimate of $3.66 by $0.13. The company had revenue of $946.98 million during 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 business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $3.27 EPS. On average, analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 7.46%.

Curtiss-Wright Company 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.