Curtiss-Wright Corporation $CW Shares Sold by Panagora Asset Management Inc.

by · The Markets Daily

Panagora Asset Management Inc. lowered its stake in Curtiss-Wright Corporation (NYSE:CW – Free Report) by 29.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,651 shares of the aerospace company’s stock after selling 36,294 shares during the quarter. Panagora Asset Management Inc. owned about 0.24% of Curtiss-Wright worth $48,319,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC lifted its holdings in Curtiss-Wright by 738.8% in the 4th quarter. SG Americas Securities LLC now owns 26,003 shares of the aerospace company’s stock valued at $14,335,000 after acquiring an additional 22,903 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Curtiss-Wright in the 3rd quarter valued at about $37,812,000. Grove Bank & Trust acquired a new stake in Curtiss-Wright in the 4th quarter valued at about $1,104,000. Fisher Asset Management LLC lifted its holdings in Curtiss-Wright by 7.2% in the 3rd quarter. Fisher Asset Management LLC now owns 120,535 shares of the aerospace company’s stock valued at $65,443,000 after acquiring an additional 8,095 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Curtiss-Wright by 3.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,218 shares of the aerospace company’s stock valued at $100,567,000 after acquiring an additional 7,022 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Analysts Set New Price Targets

CW has been the subject of a number of research analyst reports. Stifel Nicolaus set a $724.00 price target on shares of Curtiss-Wright in a report on Friday, May 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $748.00 price target on shares of Curtiss-Wright in a report on Tuesday, February 17th. Citigroup boosted their price objective on Curtiss-Wright from $728.00 to $775.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Finally, Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and an average target price of $746.67.

Read Our Latest Report on Curtiss-Wright

Insider Activity

In other news, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the transaction, the vice president owned 2,172 shares in the company, valued at $1,568,075.40. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the transaction, the chief executive officer owned 48,134 shares in the company, valued at $34,739,270.48. This represents a 4.94% decrease in their position. 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. Insiders have sold 3,371 shares of company stock worth $2,431,662 in the last 90 days. Company insiders own 0.51% of the company’s stock.

Curtiss-Wright Price Performance

NYSE CW opened at $762.18 on Tuesday. The stock’s 50-day moving average price is $728.28 and its two-hundred day moving average price is $666.72. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The company has a market cap of $28.15 billion, a PE ratio of 55.84, a PEG ratio of 3.51 and a beta of 0.85. Curtiss-Wright Corporation has a 1 year low of $458.74 and a 1 year high of $772.98.

Curtiss-Wright (NYSE:CW – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.16. The firm had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.82 EPS. On average, analysts predict that Curtiss-Wright Corporation will post 15.15 EPS for the current year.

Curtiss-Wright Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be issued a $0.24 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio is currently 7.03%.

About Curtiss-Wright

(Free Report)

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.

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