Curtiss-Wright Corporation $CW Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Curtiss-Wright Corporation (NYSE:CW) by 11.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 282,464 shares of the aerospace company’s stock after selling 37,343 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Curtiss-Wright were worth $196,875,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Curtiss-Wright in the 4th quarter valued at approximately $290,633,000. Corient Private Wealth LLC increased its position in shares of Curtiss-Wright by 6,169.8% in the 4th quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company’s stock worth $224,108,000 after purchasing an additional 400,047 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Curtiss-Wright by 61.0% in the 4th quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company’s stock worth $270,392,000 after purchasing an additional 185,887 shares during the last quarter. Axiom Investors LLC DE acquired a new stake in shares of Curtiss-Wright in the 4th quarter valued at about $76,892,000. Finally, AQR Capital Management LLC raised its stake in shares of Curtiss-Wright by 45.8% in the 2nd quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock valued at $189,468,000 after purchasing an additional 122,048 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Price Performance

Shares of NYSE:CW opened at $715.44 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. The firm has a 50-day simple moving average of $746.60 and a 200 day simple moving average of $700.26. Curtiss-Wright Corporation has a fifty-two week low of $463.00 and a fifty-two week high of $808.16. The company has a market cap of $26.43 billion, a PE ratio of 52.41, a P/E/G ratio of 3.45 and a beta of 0.86.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. The company had revenue of $913.69 million during 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%.Curtiss-Wright’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 earnings per share. On average, sell-side analysts anticipate that Curtiss-Wright Corporation will post 15.18 EPS for the current year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. Curtiss-Wright’s payout ratio is currently 7.62%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $860.00 price target on shares of Curtiss-Wright in a research note on Wednesday. Stifel Nicolaus set a $724.00 price objective on Curtiss-Wright in a research note on Friday, May 8th. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a report on Friday, May 8th. Weiss Ratings lowered Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Finally, Citigroup boosted their price target on Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $766.33.

Insider Buying and Selling

In other Curtiss-Wright news, EVP John C. Watts sold 220 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the sale, the executive vice president directly owned 3,962 shares of the company’s stock, valued at $2,983,029.42. This trade represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a filing 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, VP Gary A. Ogilby sold 399 shares of the firm’s stock in a transaction on 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 sale, the vice president owned 2,172 shares in the company, valued at $1,568,075.40. The trade was a 15.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,119 shares of company stock worth $2,257,998 in the last three months. 0.51% of the stock is owned by insiders.

About Curtiss-Wright

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.