Fisher Asset Management LLC Cuts Position in Curtiss-Wright Co. (NYSE:CW)

Fisher Asset Management LLC cut its holdings in shares of Curtiss-Wright Co. (NYSE:CW) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,837 shares of the aerospace company’s stock after selling 4,264 shares during the quarter. Fisher Asset Management LLC owned approximately 0.16% of Curtiss-Wright worth $13,331,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Fiera Capital Corp bought a new stake in shares of Curtiss-Wright during the third quarter valued at about $31,386,000. International Assets Investment Management LLC bought a new position in shares of Curtiss-Wright during the 4th quarter valued at $31,816,000. Seizert Capital Partners LLC raised its position in Curtiss-Wright by 674.7% in the 3rd quarter. Seizert Capital Partners LLC now owns 111,826 shares of the aerospace company’s stock worth $21,877,000 after purchasing an additional 97,392 shares during the period. Assenagon Asset Management S.A. purchased a new position in Curtiss-Wright in the 4th quarter worth $18,462,000. Finally, Cadinha & Co. LLC lifted its stake in Curtiss-Wright by 1,101.1% in the fourth quarter. Cadinha & Co. LLC now owns 69,605 shares of the aerospace company’s stock worth $15,507,000 after purchasing an additional 63,810 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of CW stock opened at $268.17 on Monday. Curtiss-Wright Co. has a 12 month low of $157.72 and a 12 month high of $269.00. The stock has a market cap of $10.27 billion, a PE ratio of 27.62 and a beta of 1.18. The company’s fifty day moving average price is $248.98 and its 200-day moving average price is $228.63. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40.

Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.24. The firm had revenue of $713.17 million during the quarter, compared to analyst estimates of $664.01 million. Curtiss-Wright had a net margin of 12.78% and a return on equity of 16.79%. The business’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the business earned $1.53 earnings per share. On average, equities analysts expect that Curtiss-Wright Co. will post 10.27 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.30%. Curtiss-Wright’s dividend payout ratio is currently 8.24%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Curtiss-Wright from $255.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Robert W. Baird boosted their price objective on Curtiss-Wright from $246.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Truist Financial raised their target price on shares of Curtiss-Wright from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Friday. Morgan Stanley upped their price target on Curtiss-Wright from $260.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday. Finally, StockNews.com upgraded shares of Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a report on Sunday. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $277.00.

Insider Activity

In related news, VP Paul J. Ferdenzi sold 2,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $240.00, for a total value of $600,000.00. Following the transaction, the vice president now owns 17,383 shares in the company, valued at approximately $4,171,920. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO K Christopher Farkas sold 925 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $243.55, for a total value of $225,283.75. Following the completion of the transaction, the chief financial officer now owns 10,052 shares in the company, valued at $2,448,164.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul J. Ferdenzi sold 2,500 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $240.00, for a total value of $600,000.00. Following the sale, the vice president now directly owns 17,383 shares in the company, valued at $4,171,920. The disclosure for this sale can be found here. Insiders sold 12,451 shares of company stock worth $3,030,512 over the last three months. 0.67% of the stock is currently owned by corporate insiders.

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.