Covea Finance Reduces Stock Holdings in Curtiss-Wright Co. (NYSE:CW)

Covea Finance lowered its holdings in shares of Curtiss-Wright Co. (NYSE:CW) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,900 shares of the aerospace company’s stock after selling 1,600 shares during the quarter. Covea Finance owned approximately 0.07% of Curtiss-Wright worth $9,901,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CW. Geode Capital Management LLC raised its position in Curtiss-Wright by 3.9% in the third quarter. Geode Capital Management LLC now owns 731,848 shares of the aerospace company’s stock worth $240,606,000 after acquiring an additional 27,607 shares during the period. Congress Asset Management Co. increased its stake in shares of Curtiss-Wright by 136.8% in the 3rd quarter. Congress Asset Management Co. now owns 459,074 shares of the aerospace company’s stock worth $150,893,000 after purchasing an additional 265,205 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Curtiss-Wright by 32,425.8% in the 3rd quarter. International Assets Investment Management LLC now owns 404,946 shares of the aerospace company’s stock worth $133,102,000 after purchasing an additional 403,701 shares during the period. Franklin Resources Inc. lifted its position in Curtiss-Wright by 7.3% during the third quarter. Franklin Resources Inc. now owns 332,047 shares of the aerospace company’s stock valued at $115,469,000 after purchasing an additional 22,543 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Curtiss-Wright by 29.0% in the third quarter. Van ECK Associates Corp now owns 253,726 shares of the aerospace company’s stock worth $88,847,000 after buying an additional 56,966 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Up 2.6 %

CW opened at $359.92 on Wednesday. The company has a market capitalization of $13.66 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 2.92 and a beta of 1.18. The firm has a 50-day simple moving average of $364.85 and a two-hundred day simple moving average of $329.13. The company has a quick ratio of 1.39, a current ratio of 1.98 and a debt-to-equity ratio of 0.39. Curtiss-Wright Co. has a 52 week low of $217.57 and a 52 week high of $393.40.

Curtiss-Wright Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 22nd were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Friday, November 22nd. Curtiss-Wright’s dividend payout ratio is presently 7.95%.

Insiders Place Their Bets

In other news, CEO Lynn M. Bamford sold 7,129 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $368.80, for a total transaction of $2,629,175.20. Following the sale, the chief executive officer now directly owns 28,688 shares in the company, valued at approximately $10,580,134.40. This represents a 19.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John C. Watts sold 412 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total transaction of $148,134.60. Following the completion of the transaction, the vice president now directly owns 4,183 shares of the company’s stock, valued at approximately $1,503,997.65. The trade was a 8.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 116 shares of company stock valued at $35,278 in the last quarter. 0.67% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CW has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Stifel Nicolaus cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price objective for the company. in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of Curtiss-Wright in a research note on Thursday, December 5th. They set a “buy” rating and a $452.00 target price on the stock. Truist Financial raised their price target on Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a report on Tuesday. Finally, StockNews.com lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Curtiss-Wright has an average rating of “Moderate Buy” and an average target price of $383.00.

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.