Prospector Partners LLC Sells 33,000 Shares of Curtiss-Wright Co. (NYSE:CW)

Prospector Partners LLC lessened its stake in Curtiss-Wright Co. (NYSE:CW - Free Report) by 37.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,146 shares of the aerospace company's stock after selling 33,000 shares during the period. Curtiss-Wright comprises about 2.1% of Prospector Partners LLC's portfolio, making the stock its 12th biggest position. Prospector Partners LLC owned 0.14% of Curtiss-Wright worth $19,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CW. Vanguard Group Inc. lifted its holdings in Curtiss-Wright by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,634,028 shares of the aerospace company's stock valued at $1,289,608,000 after buying an additional 15,890 shares during the period. TD Asset Management Inc. raised its position in shares of Curtiss-Wright by 16.2% in the 4th quarter. TD Asset Management Inc. now owns 766,413 shares of the aerospace company's stock worth $271,977,000 after acquiring an additional 107,115 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Curtiss-Wright by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 743,934 shares of the aerospace company's stock valued at $264,071,000 after purchasing an additional 12,086 shares during the period. Alliancebernstein L.P. boosted its position in shares of Curtiss-Wright by 1.2% during the 4th quarter. Alliancebernstein L.P. now owns 592,326 shares of the aerospace company's stock valued at $210,199,000 after purchasing an additional 6,971 shares in the last quarter. Finally, Norges Bank acquired a new stake in Curtiss-Wright during the fourth quarter worth approximately $201,856,000. Institutional investors and hedge funds own 82.71% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CW. Truist Financial boosted their price target on Curtiss-Wright from $333.00 to $357.00 and gave the company a "hold" rating in a research note on Tuesday, January 14th. Citigroup dropped their target price on shares of Curtiss-Wright from $450.00 to $424.00 and set a "buy" rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $388.86.

Curtiss-Wright Stock Up 1.3 %

Shares of CW traded up $4.05 during trading hours on Friday, reaching $317.26. The stock had a trading volume of 74,536 shares, compared to its average volume of 263,454. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 29.79, a P/E/G ratio of 2.48 and a beta of 1.03. The firm has a 50-day simple moving average of $322.74 and a 200 day simple moving average of $345.76. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. Curtiss-Wright Co. has a 12 month low of $246.43 and a 12 month high of $393.40.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The aerospace company reported $3.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.12 by $0.15. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. Equities research analysts predict that Curtiss-Wright Co. will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, March 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, March 27th. Curtiss-Wright's dividend payout ratio (DPR) is presently 7.96%.

Insider Activity

In other news, VP John C. Watts sold 622 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $347.05, for a total value of $215,865.10. Following the completion of the sale, the vice president now owns 5,072 shares in the company, valued at $1,760,237.60. This represents a 10.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lynn M. Bamford sold 8,289 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $346.87, for a total transaction of $2,875,205.43. Following the completion of the sale, the chief executive officer now owns 38,905 shares of the company's stock, valued at approximately $13,494,977.35. This represents a 17.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,797 shares of company stock worth $7,436,255 over the last 90 days. 0.67% of the stock is currently owned by corporate insiders.

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.