Whittier Trust Co. Cuts Stock Position in Curtiss-Wright Corporation $CW

Whittier Trust Co. cut its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,260 shares of the aerospace company’s stock after selling 1,518 shares during the quarter. Whittier Trust Co.’s holdings in Curtiss-Wright were worth $42,828,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Curtiss-Wright in the 4th quarter worth approximately $290,633,000. Corient Private Wealth LLC boosted its stake in Curtiss-Wright by 6,169.8% in the fourth quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company’s stock worth $224,108,000 after buying an additional 400,047 shares in the last quarter. Franklin Resources Inc. grew its position in Curtiss-Wright by 61.0% during the fourth quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company’s stock valued at $270,392,000 after acquiring an additional 185,887 shares during the last quarter. Axiom Investors LLC DE bought a new position in Curtiss-Wright during the fourth quarter valued at approximately $76,892,000. Finally, AQR Capital Management LLC raised its stake in shares of Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock worth $189,468,000 after acquiring an additional 122,048 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Gary A. Ogilby sold 399 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the sale, the vice president directly owned 2,172 shares in the company, valued at approximately $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the sale, the chief executive officer owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,119 shares of company stock valued at $2,257,998 in the last quarter. Insiders own 0.51% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of CW stock opened at $758.94 on Monday. The company has a market capitalization of $28.04 billion, a P/E ratio of 55.60, a PEG ratio of 3.52 and a beta of 0.86. Curtiss-Wright Corporation has a fifty-two week low of $463.00 and a fifty-two week high of $800.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52. The stock has a 50 day moving average price of $740.28 and a two-hundred day moving average price of $687.71.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The firm had revenue of $913.69 million for the quarter, compared to analysts’ expectations of $863.83 million. During the same quarter last year, the business earned $2.82 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. Analysts expect that Curtiss-Wright Corporation will post 15.17 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright’s dividend payout ratio (DPR) is 7.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CW shares. Citigroup boosted their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings cut shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. Stifel Nicolaus set a $724.00 price target on shares of Curtiss-Wright in a research note on Friday, May 8th. Finally, Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Three 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $749.67.

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.