Oppenheimer Asset Management Inc. Cuts Stock Position in Curtiss-Wright Co. (NYSE:CW)

Oppenheimer Asset Management Inc. trimmed its holdings in Curtiss-Wright Co. (NYSE:CW) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,936 shares of the aerospace company’s stock after selling 341 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Curtiss-Wright were worth $3,171,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. TimesSquare Capital Management LLC raised its stake in Curtiss-Wright by 1,773.1% during the 4th quarter. TimesSquare Capital Management LLC now owns 176,072 shares of the aerospace company’s stock valued at $62,483,000 after purchasing an additional 166,672 shares during the period. Principal Financial Group Inc. raised its position in shares of Curtiss-Wright by 170.2% during the fourth quarter. Principal Financial Group Inc. now owns 259,435 shares of the aerospace company’s stock valued at $92,065,000 after buying an additional 163,433 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Curtiss-Wright by 90.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 338,506 shares of the aerospace company’s stock worth $118,961,000 after acquiring an additional 160,395 shares during the last quarter. World Investment Advisors LLC purchased a new position in Curtiss-Wright during the third quarter valued at $47,220,000. Finally, Van ECK Associates Corp increased its holdings in Curtiss-Wright by 31.3% in the 4th quarter. Van ECK Associates Corp now owns 333,088 shares of the aerospace company’s stock valued at $118,203,000 after acquiring an additional 79,362 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CW. Deutsche Bank Aktiengesellschaft started coverage on Curtiss-Wright in a research report on Thursday, December 5th. They set a “buy” rating and a $452.00 price objective for the company. Truist Financial upped their price objective on Curtiss-Wright from $333.00 to $357.00 and gave the stock a “hold” rating in a report on Tuesday, January 14th. Stifel Nicolaus lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 target price for the company. in a report on Monday, November 18th. Citigroup assumed coverage on shares of Curtiss-Wright in a research note on Tuesday, January 21st. They set a “buy” rating and a $410.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on shares of Curtiss-Wright from $334.00 to $395.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $386.86.

Insider Buying and Selling

In other Curtiss-Wright news, insider Paul J. Ferdenzi sold 1,907 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $346.98, for a total value of $661,690.86. Following the transaction, the insider now directly owns 18,405 shares in the company, valued at $6,386,166.90. This represents a 9.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John C. Watts sold 622 shares of Curtiss-Wright stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $347.05, for a total transaction of $215,865.10. Following the sale, the vice president now directly owns 5,072 shares of the company’s stock, valued at $1,760,237.60. This represents a 10.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 116 shares of company stock valued at $35,278 and sold 23,064 shares valued at $8,157,322. 0.67% of the stock is owned by corporate insiders.

Curtiss-Wright Stock Up 2.0 %

NYSE CW opened at $322.24 on Friday. Curtiss-Wright Co. has a 52 week low of $234.49 and a 52 week high of $393.40. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 2.48 and a beta of 1.19. The company has a quick ratio of 1.19, a current ratio of 1.69 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average of $348.05 and a two-hundred day moving average of $344.33.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, February 12th. The aerospace company reported $3.27 EPS for the quarter, topping analysts’ consensus estimates of $3.12 by $0.15. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. On average, analysts predict that Curtiss-Wright Co. will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, March 27th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.84 annualized dividend and a dividend yield of 0.26%. Curtiss-Wright’s payout ratio is 7.96%.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.