Corebridge Financial Inc. Decreases Position in Curtiss-Wright Co. (NYSE:CW)

Corebridge Financial Inc. decreased its position in shares of Curtiss-Wright Co. (NYSE:CW) by 5.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,941 shares of the aerospace company’s stock after selling 2,348 shares during the period. Corebridge Financial Inc.’s holdings in Curtiss-Wright were worth $15,238,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. YANKCOM Partnership purchased a new stake in Curtiss-Wright during the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Curtiss-Wright during the third quarter valued at $53,000. Brooklyn Investment Group purchased a new stake in shares of Curtiss-Wright during the third quarter valued at $59,000. UMB Bank n.a. increased its holdings in Curtiss-Wright by 61.0% in the 4th quarter. UMB Bank n.a. now owns 169 shares of the aerospace company’s stock worth $60,000 after buying an additional 64 shares in the last quarter. Finally, Morse Asset Management Inc purchased a new position in Curtiss-Wright in the 3rd quarter worth about $69,000. Institutional investors own 82.71% of the company’s stock.

Analyst Ratings Changes

CW has been the topic of a number of recent analyst reports. Citigroup began coverage on shares of Curtiss-Wright in a report on Tuesday, January 21st. They set a “buy” rating and a $410.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Curtiss-Wright in a report on Thursday, December 5th. They issued a “buy” rating and a $452.00 target price on the stock. Finally, Truist Financial boosted their target price on shares of Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $386.86.

Curtiss-Wright Trading Up 3.5 %

NYSE:CW opened at $336.56 on Tuesday. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 2.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.69 and a quick ratio of 1.19. The business has a fifty day moving average price of $336.99 and a 200-day moving average price of $346.08. Curtiss-Wright Co. has a one year low of $246.43 and a one year high of $393.40.

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

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Thursday, March 27th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, March 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.25%. Curtiss-Wright’s dividend payout ratio is 7.96%.

Insider Activity at Curtiss-Wright

In related news, CEO Lynn M. Bamford sold 8,289 shares of Curtiss-Wright stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $346.87, for a total value of $2,875,205.43. Following the completion of the transaction, the chief executive officer now owns 38,905 shares in the company, valued at approximately $13,494,977.35. This trade represents a 17.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John C. Watts sold 622 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $347.05, for a total value of $215,865.10. Following the sale, the vice president now owns 5,072 shares in the company, valued at approximately $1,760,237.60. This trade represents a 10.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 116 shares of company stock valued at $35,278 and sold 21,797 shares valued at $7,436,255. 0.67% of the stock is currently owned by corporate insiders.

Curtiss-Wright Profile

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.