Principal Financial Group Inc. Reduces Position in Curtiss-Wright Corporation $CW

Principal Financial Group Inc. reduced its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 49.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,272 shares of the aerospace company’s stock after selling 86,093 shares during the period. Principal Financial Group Inc. owned about 0.23% of Curtiss-Wright worth $58,762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC purchased a new position in Curtiss-Wright in the fourth quarter valued at $31,000. Larson Financial Group LLC lifted its holdings in Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock worth $33,000 after buying an additional 21 shares during the last quarter. Transamerica Financial Advisors LLC lifted its holdings in Curtiss-Wright by 25.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company’s stock worth $40,000 after buying an additional 15 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Curtiss-Wright during the 4th quarter worth about $42,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Curtiss-Wright during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Stock Down 1.0%

CW opened at $708.83 on Friday. The business’s 50-day simple moving average is $746.21 and its 200-day simple moving average is $700.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.52. Curtiss-Wright Corporation has a one year low of $463.00 and a one year high of $808.16. The stock has a market capitalization of $26.18 billion, a P/E ratio of 51.93, a price-to-earnings-growth ratio of 3.28 and a beta of 0.86.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.16. The business 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%.The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.82 EPS. Analysts anticipate that Curtiss-Wright Corporation will post 15.23 EPS for the current year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were paid a $0.24 dividend. 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%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the sale, the chief executive officer directly owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the transaction, the executive vice president owned 3,962 shares in the company, valued at approximately $2,983,029.42. This trade represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by company 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.