Lazard Asset Management LLC Decreases Stake in Curtiss-Wright Co. (NYSE:CW)

Lazard Asset Management LLC lowered its holdings in Curtiss-Wright Co. (NYSE:CW) by 59.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,487 shares of the aerospace company’s stock after selling 43,287 shares during the quarter. Lazard Asset Management LLC owned 0.08% of Curtiss-Wright worth $7,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Epoch Investment Partners Inc. increased its position in Curtiss-Wright by 70.9% during the first quarter. Epoch Investment Partners Inc. now owns 202,261 shares of the aerospace company’s stock valued at $51,767,000 after acquiring an additional 83,882 shares during the last quarter. 1832 Asset Management L.P. increased its position in Curtiss-Wright by 4,028.8% during the first quarter. 1832 Asset Management L.P. now owns 7,019 shares of the aerospace company’s stock valued at $1,796,000 after acquiring an additional 6,849 shares during the last quarter. Vident Advisory LLC increased its position in Curtiss-Wright by 809.2% during the first quarter. Vident Advisory LLC now owns 11,819 shares of the aerospace company’s stock valued at $3,025,000 after acquiring an additional 10,519 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Curtiss-Wright by 1.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 23,598 shares of the aerospace company’s stock valued at $6,047,000 after acquiring an additional 311 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Curtiss-Wright by 7.0% during the first quarter. Bessemer Group Inc. now owns 70,349 shares of the aerospace company’s stock valued at $18,004,000 after acquiring an additional 4,584 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CW shares. Truist Financial boosted their price target on Curtiss-Wright from $252.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Robert W. Baird increased their price objective on shares of Curtiss-Wright from $246.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley lifted their price objective on shares of Curtiss-Wright from $284.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. StockNews.com lowered shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 18th. Finally, Stifel Nicolaus lifted their target price on Curtiss-Wright from $310.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Curtiss-Wright has a consensus rating of “Moderate Buy” and a consensus target price of $304.50.

Insider Activity at Curtiss-Wright

In related news, COO Kevin Rayment sold 8,415 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $281.67, for a total transaction of $2,370,253.05. Following the completion of the sale, the chief operating officer now owns 19,914 shares of the company’s stock, valued at $5,609,176.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Curtiss-Wright news, Director S Marce Fuller sold 5,300 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $281.04, for a total value of $1,489,512.00. Following the completion of the transaction, the director now owns 25,770 shares of the company’s stock, valued at $7,242,400.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Kevin Rayment sold 8,415 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $281.67, for a total transaction of $2,370,253.05. Following the completion of the transaction, the chief operating officer now directly owns 19,914 shares of the company’s stock, valued at approximately $5,609,176.38. The disclosure for this sale can be found here. Insiders bought 120 shares of company stock valued at $27,914 over the last 90 days. Insiders own 0.67% of the company’s stock.

Curtiss-Wright Trading Up 0.9 %

NYSE:CW opened at $282.89 on Monday. The firm has a 50-day simple moving average of $276.71 and a 200-day simple moving average of $255.81. Curtiss-Wright Co. has a one year low of $188.71 and a one year high of $288.44. The firm has a market cap of $10.83 billion, a P/E ratio of 28.87 and a beta of 1.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.38 and a current ratio of 2.02.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, May 1st. The aerospace company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.24. Curtiss-Wright had a net margin of 12.78% and a return on equity of 16.79%. The firm had revenue of $713.17 million during the quarter, compared to analysts’ expectations of $664.01 million. During the same quarter in the prior year, the company earned $1.53 EPS. The company’s revenue was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Curtiss-Wright Co. will post 10.25 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were given a dividend of $0.21 per share. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 17th. This represents a $0.84 dividend on an annualized basis and a yield of 0.30%. Curtiss-Wright’s dividend payout ratio is presently 8.65%.

Curtiss-Wright 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.