Lazard Asset Management LLC Sells 61,797 Shares of Curtiss-Wright Corporation $CW

Lazard Asset Management LLC trimmed its holdings in Curtiss-Wright Corporation (NYSE:CW) by 41.0% in the first quarter, Holdings Channel reports. The institutional investor owned 88,986 shares of the aerospace company’s stock after selling 61,797 shares during the period. Lazard Asset Management LLC’s holdings in Curtiss-Wright were worth $60,610,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CW. Goldman Sachs Group Inc. increased its stake in Curtiss-Wright by 10.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company’s stock worth $67,611,000 after acquiring an additional 20,379 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Curtiss-Wright during the 2nd quarter valued at $235,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Curtiss-Wright by 53.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 35 shares during the period. Marshall Wace LLP acquired a new stake in shares of Curtiss-Wright during the 2nd quarter worth $5,423,000. Finally, Cresset Asset Management LLC grew its holdings in shares of Curtiss-Wright by 46.4% during the 2nd quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company’s stock worth $705,000 after purchasing an additional 457 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Robert W. Baird set a $870.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Stifel Nicolaus raised their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a report on Monday, July 20th. Morgan Stanley restated an “overweight” rating and issued a $860.00 target price on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Finally, Citigroup upped their price target on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Curtiss-Wright has a consensus rating of “Moderate Buy” and a consensus target price of $773.67.

Curtiss-Wright Trading Down 0.9%

Shares of CW opened at $743.30 on Tuesday. Curtiss-Wright Corporation has a 52-week low of $464.91 and a 52-week high of $808.16. The business’s fifty day moving average is $746.51 and its 200-day moving average is $708.31. 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 firm has a market cap of $27.46 billion, a price-to-earnings ratio of 54.45, a PEG ratio of 3.44 and a beta of 0.86.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The company had revenue of $913.69 million during the quarter, compared to analysts’ expectations of $863.83 million. During the same quarter in the previous year, the firm earned $2.82 EPS. Curtiss-Wright’s revenue was up 13.4% on a year-over-year basis. Equities analysts anticipate that Curtiss-Wright Corporation will post 15.22 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright’s payout ratio is presently 7.62%.

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 value of $288,058.05. Following the completion of the transaction, the vice president owned 2,172 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the sale, the chief executive officer owned 48,134 shares in the company, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by corporate insiders.

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.