American Century Companies Inc. Decreases Position in Curtiss-Wright Corp. (CW)
American Century Companies Inc. decreased its position in shares of Curtiss-Wright Corp. (NYSE:CW) by 63.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,792 shares of the aerospace company’s stock after selling 136,175 shares during the period. American Century Companies Inc.’s holdings in Curtiss-Wright were worth $8,046,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Curtiss-Wright by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,546,418 shares of the aerospace company’s stock valued at $487,349,000 after purchasing an additional 23,821 shares in the last quarter. Vanguard Group Inc raised its position in Curtiss-Wright by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 3,546,418 shares of the aerospace company’s stock valued at $487,349,000 after purchasing an additional 23,821 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Curtiss-Wright by 3.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 72,864 shares of the aerospace company’s stock valued at $10,013,000 after purchasing an additional 2,478 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Curtiss-Wright in the 4th quarter valued at about $1,079,000. Finally, GAM Holding AG raised its position in Curtiss-Wright by 22.8% in the 3rd quarter. GAM Holding AG now owns 3,356 shares of the aerospace company’s stock valued at $461,000 after purchasing an additional 622 shares in the last quarter. 77.10% of the stock is currently owned by hedge funds and other institutional investors.
CW has been the topic of a number of analyst reports. Zacks Investment Research lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Thursday, December 13th. Stifel Nicolaus raised Curtiss-Wright from a “hold” rating to a “buy” rating and increased their price target for the company from $120.00 to $122.00 in a research report on Wednesday, December 19th. Finally, ValuEngine raised Curtiss-Wright from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $132.14.
Curtiss-Wright (NYSE:CW) last issued its earnings results on Tuesday, February 26th. The aerospace company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. Curtiss-Wright had a return on equity of 17.91% and a net margin of 11.43%. The business had revenue of $648.62 million for the quarter, compared to analyst estimates of $688.52 million. During the same quarter last year, the company earned $1.52 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts forecast that Curtiss-Wright Corp. will post 6.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Wednesday, March 27th. Curtiss-Wright’s dividend payout ratio (DPR) is presently 9.42%.
Curtiss-Wright declared that its board has initiated a share repurchase program on Wednesday, December 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the aerospace company to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, CEO David Charles Adams sold 7,000 shares of the firm’s stock in a transaction dated Friday, January 18th. The stock was sold at an average price of $111.00, for a total transaction of $777,000.00. Following the sale, the chief executive officer now owns 75,164 shares of the company’s stock, valued at approximately $8,343,204. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Harry Jakubowitz sold 684 shares of the firm’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $115.03, for a total value of $78,680.52. Following the sale, the vice president now directly owns 21,137 shares in the company, valued at approximately $2,431,389.11. The disclosure for this sale can be found here. Insiders have sold a total of 30,681 shares of company stock worth $3,542,880 in the last three months. Corporate insiders own 0.90% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “American Century Companies Inc. Decreases Position in Curtiss-Wright Corp. (CW)” was first posted by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece of content can be accessed at https://www.watchlistnews.com/american-century-companies-inc-decreases-position-in-curtiss-wright-corp-cw/2954098.html.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
Read More: What is the Current Ratio?
Want to see what other hedge funds are holding CW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Curtiss-Wright Corp. (NYSE:CW).
Receive News & Ratings for Curtiss-Wright Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Curtiss-Wright and related companies with MarketBeat.com's FREE daily email newsletter.