Atika Capital Management LLC Reduces Position in Curtiss-Wright Corporation $CW

Atika Capital Management LLC decreased its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,051 shares of the aerospace company’s stock after selling 1,449 shares during the period. Atika Capital Management LLC’s holdings in Curtiss-Wright were worth $5,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Curtiss-Wright during the 3rd quarter worth approximately $2,781,000. Edmond DE Rothschild Holding S.A. lifted its stake in Curtiss-Wright by 108.0% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 2,336 shares of the aerospace company’s stock valued at $1,141,000 after buying an additional 1,213 shares in the last quarter. Inscription Capital LLC grew its holdings in 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 during the last quarter. Creative Planning increased its position in Curtiss-Wright by 30.4% during the second quarter. Creative Planning now owns 5,572 shares of the aerospace company’s stock worth $2,722,000 after buying an additional 1,300 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Curtiss-Wright by 380.5% in the third quarter. Allianz Asset Management GmbH now owns 28,590 shares of the aerospace company’s stock worth $15,523,000 after acquiring an additional 22,640 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Wall Street Analyst Weigh In

CW has been the topic of several recent research reports. Truist Financial set a $603.00 price objective on Curtiss-Wright in a research 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. Morgan Stanley reaffirmed an “overweight” rating and set a $760.00 price target on shares of Curtiss-Wright in a research note on Friday, February 13th. Citigroup lifted their price target 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. Finally, Stifel Nicolaus upped 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. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $663.17.

Curtiss-Wright Trading Down 1.6%

NYSE CW opened at $692.52 on Thursday. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $730.12. The company has a 50-day moving average of $659.59 and a 200-day moving average of $582.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.44 and a quick ratio of 1.00. The company has a market cap of $25.53 billion, a P/E ratio of 53.81, a P/E/G ratio of 3.43 and a beta of 0.91.

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

Curtiss-Wright Announces Dividend

The company 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 $0.24 dividend. The ex-dividend date is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 7.46%.

Insider Activity

In other news, COO Kevin Rayment sold 2,634 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total value of $1,649,753.22. Following the transaction, the chief operating officer directly owned 29,896 shares in the company, valued at $18,724,761.68. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO K Christopher Farkas sold 2,665 shares of Curtiss-Wright stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total value of $1,669,169.45. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,269 shares of company stock valued at $10,797,098 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

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.