Pinnbrook Capital Management LP Trims Holdings in Curtiss-Wright Corporation $CW

Pinnbrook Capital Management LP lowered its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 46.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,411 shares of the aerospace company’s stock after selling 12,723 shares during the period. Pinnbrook Capital Management LP’s holdings in Curtiss-Wright were worth $7,824,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Perbak Capital Partners LLP increased its stake in shares of Curtiss-Wright by 92.5% in the 3rd quarter. Perbak Capital Partners LLP now owns 1,309 shares of the aerospace company’s stock worth $711,000 after acquiring an additional 629 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of Curtiss-Wright by 1.9% during the 3rd quarter. Pathstone Holdings LLC now owns 4,234 shares of the aerospace company’s stock valued at $2,299,000 after acquiring an additional 77 shares during the last quarter. Twin Tree Management LP acquired a new position in shares of Curtiss-Wright during the 3rd quarter valued at about $3,802,000. GeoWealth Management LLC grew its holdings in shares of Curtiss-Wright by 15.1% in the third quarter. GeoWealth Management LLC now owns 2,562 shares of the aerospace company’s stock valued at $1,391,000 after purchasing an additional 337 shares during the period. Finally, Wealth High Governance Capital Ltda increased its position in Curtiss-Wright by 45.2% during the third quarter. Wealth High Governance Capital Ltda now owns 18,000 shares of the aerospace company’s stock worth $9,773,000 after purchasing an additional 5,600 shares during the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Down 3.8%

CW stock opened at $654.64 on Friday. The stock has a market cap of $24.14 billion, a P/E ratio of 50.87, a PEG ratio of 3.31 and a beta of 0.91. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $730.12. The company’s 50 day moving average is $663.82 and its two-hundred day moving average is $584.74.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.13. Curtiss-Wright had a net margin of 13.84% and a return on equity of 19.28%. The company had revenue of $946.98 million during the quarter, compared to the consensus estimate of $890.14 million. During the same quarter in the prior year, the firm posted $3.27 earnings per share. Curtiss-Wright’s revenue for the quarter was up 14.9% on a year-over-year basis. Research analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 26th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.46%.

Insiders Place Their Bets

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 9,327 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $626.45, for a total transaction of $5,842,899.15. Following the transaction, the chief executive officer directly owned 46,192 shares of the company’s stock, valued at approximately $28,936,978.40. This trade represents a 16.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Kevin Rayment sold 2,634 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total transaction of $1,649,753.22. Following the transaction, the chief operating officer directly owned 29,896 shares in the company, valued at $18,724,761.68. The trade was a 8.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 17,269 shares of company stock worth $10,797,098. Corporate insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $760.00 target price on shares of Curtiss-Wright in a research note on Friday, February 13th. Stifel Nicolaus increased their price target on shares of Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Citigroup raised their price target on shares of Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $748.00 price target on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Finally, Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Curtiss-Wright has a consensus rating of “Moderate Buy” and a consensus target price of $663.17.

Curtiss-Wright Company Profile

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.