Covea Finance Sells 8,200 Shares of Curtiss-Wright Corporation (NYSE:CW)

Covea Finance cut its holdings in shares of Curtiss-Wright Corporation (NYSE:CW) by 29.4% during the first quarter, Holdings Channel reports. The fund owned 19,700 shares of the aerospace company’s stock after selling 8,200 shares during the period. Covea Finance’s holdings in Curtiss-Wright were worth $6,250,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Whipplewood Advisors LLC boosted its position in Curtiss-Wright by 1,566.7% in the 1st quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company’s stock valued at $32,000 after buying an additional 94 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in Curtiss-Wright in the 4th quarter valued at $35,000. Ancora Advisors LLC bought a new position in Curtiss-Wright in the 4th quarter valued at $49,000. MassMutual Private Wealth & Trust FSB boosted its position in Curtiss-Wright by 165.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the aerospace company’s stock valued at $63,000 after buying an additional 124 shares during the last quarter. Finally, Altshuler Shaham Ltd bought a new position in Curtiss-Wright in the 4th quarter valued at $70,000. 82.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP John C. Watts sold 450 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $449.36, for a total transaction of $202,212.00. Following the sale, the vice president now owns 4,959 shares of the company’s stock, valued at approximately $2,228,376.24. This trade represents a 8.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO K Christopher Farkas sold 4,780 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $350.00, for a total value of $1,673,000.00. Following the sale, the chief financial officer now directly owns 9,253 shares in the company, valued at $3,238,550. The trade was a 34.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,130 shares of company stock valued at $2,726,412. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CW. Wall Street Zen lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 24th. Robert W. Baird increased their price objective on Curtiss-Wright from $432.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Stifel Nicolaus decreased their price objective on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Truist Financial decreased their price objective on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Finally, Citigroup increased their price target on Curtiss-Wright from $444.00 to $520.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and a consensus target price of $418.00.

Curtiss-Wright Stock Performance

CW stock opened at $465.84 on Friday. The business’s fifty day moving average is $400.61 and its 200-day moving average is $360.96. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 0.37. The company has a market cap of $17.54 billion, a P/E ratio of 41.45, a price-to-earnings-growth ratio of 3.03 and a beta of 1.14. Curtiss-Wright Corporation has a twelve month low of $258.85 and a twelve month high of $479.91.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.39 by $0.43. The business had revenue of $805.65 million for the quarter, compared to the consensus estimate of $767.32 million. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.99 EPS. Equities research analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Monday, June 16th. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.21. Curtiss-Wright’s dividend payout ratio (DPR) is presently 8.54%.

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.