Congress Asset Management Co. Lowers Holdings in Curtiss-Wright Co. (NYSE:CW)

Congress Asset Management Co. decreased its holdings in Curtiss-Wright Co. (NYSE:CW) by 7.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 409,528 shares of the aerospace company’s stock after selling 32,270 shares during the quarter. Curtiss-Wright accounts for about 1.0% of Congress Asset Management Co.’s holdings, making the stock its 27th biggest holding. Congress Asset Management Co. owned about 1.09% of Curtiss-Wright worth $129,931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Radnor Capital Management LLC boosted its stake in shares of Curtiss-Wright by 2.2% in the first quarter. Radnor Capital Management LLC now owns 7,582 shares of the aerospace company’s stock valued at $2,406,000 after purchasing an additional 165 shares during the period. Vest Financial LLC purchased a new position in Curtiss-Wright in the first quarter worth approximately $2,423,000. Portside Wealth Group LLC lifted its stake in Curtiss-Wright by 1.6% in the first quarter. Portside Wealth Group LLC now owns 2,144 shares of the aerospace company’s stock worth $680,000 after acquiring an additional 34 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Curtiss-Wright by 7.3% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,506 shares of the aerospace company’s stock worth $1,430,000 after acquiring an additional 308 shares during the last quarter. Finally, Whipplewood Advisors LLC lifted its stake in Curtiss-Wright by 1,566.7% in the first quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Up 1.0%

CW stock opened at $453.36 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. Curtiss-Wright Co. has a twelve month low of $258.85 and a twelve month high of $455.22. The company’s 50 day moving average is $368.49 and its two-hundred day moving average is $354.29. The stock has a market cap of $17.07 billion, a P/E ratio of 42.97, a PEG ratio of 2.48 and a beta of 1.14.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.43. The company had revenue of $805.65 million for the quarter, compared to analysts’ expectations of $767.32 million. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $1.99 earnings per share. Research analysts expect that Curtiss-Wright Co. will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.21%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 16th. Curtiss-Wright’s payout ratio is presently 8.54%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Truist Financial decreased their price target on shares of Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating for the company in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 24th. Robert W. Baird lifted their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Finally, Citigroup cut their price objective on shares of Curtiss-Wright from $450.00 to $424.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $404.29.

Insider Activity

In other Curtiss-Wright news, Director Bruce D. Hoechner sold 1,900 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $448.00, for a total value of $851,200.00. Following the transaction, the director now directly owns 4,523 shares of the company’s stock, valued at approximately $2,026,304. The trade was a 29.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP George P. Mcdonald sold 148 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $325.41, for a total transaction of $48,160.68. Following the completion of the transaction, the vice president now directly owns 1,899 shares in the company, valued at $617,953.59. This represents a 7.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,992 shares of company stock valued at $4,634,519 in the last ninety days. 0.55% of the stock is currently owned by company insiders.

Curtiss-Wright Company 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.