Covea Finance Trims Stake in Curtiss-Wright Co. (NYSE:CW)

Covea Finance lessened its holdings in shares of Curtiss-Wright Co. (NYSE:CW) by 5.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 27,900 shares of the aerospace company’s stock after selling 1,600 shares during the quarter. Covea Finance’s holdings in Curtiss-Wright were worth $9,901,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC lifted its holdings in Curtiss-Wright by 32,425.8% during the 3rd quarter. International Assets Investment Management LLC now owns 404,946 shares of the aerospace company’s stock valued at $133,102,000 after buying an additional 403,701 shares in the last quarter. Congress Asset Management Co. grew its stake in Curtiss-Wright by 136.8% in the third quarter. Congress Asset Management Co. now owns 459,074 shares of the aerospace company’s stock worth $150,893,000 after purchasing an additional 265,205 shares in the last quarter. World Investment Advisors LLC purchased a new position in Curtiss-Wright during the 3rd quarter worth $47,220,000. Allspring Global Investments Holdings LLC increased its holdings in Curtiss-Wright by 91.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 178,111 shares of the aerospace company’s stock worth $58,543,000 after purchasing an additional 85,013 shares during the period. Finally, Millennium Management LLC raised its position in Curtiss-Wright by 37.0% during the 2nd quarter. Millennium Management LLC now owns 239,187 shares of the aerospace company’s stock valued at $64,815,000 after purchasing an additional 64,619 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

Shares of CW opened at $359.92 on Wednesday. The company has a 50 day moving average of $364.85 and a two-hundred day moving average of $329.13. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 2.92 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 1.98 and a debt-to-equity ratio of 0.39. Curtiss-Wright Co. has a twelve month low of $217.57 and a twelve month high of $393.40.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 22nd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.84 annualized dividend and a yield of 0.23%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.95%.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 412 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total transaction of $148,134.60. Following the transaction, the vice president now owns 4,183 shares in the company, valued at approximately $1,503,997.65. This represents a 8.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Lynn M. Bamford sold 7,129 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $368.80, for a total value of $2,629,175.20. Following the completion of the transaction, the chief executive officer now directly owns 28,688 shares in the company, valued at approximately $10,580,134.40. The trade was a 19.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 116 shares of company stock valued at $35,278 in the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

CW has been the topic of several research reports. Alembic Global Advisors started coverage on Curtiss-Wright in a research note on Tuesday, October 29th. They set an “overweight” rating and a $412.00 price target on the stock. Morgan Stanley increased their target price on shares of Curtiss-Wright from $334.00 to $395.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Truist Financial boosted their price target on shares of Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a report on Tuesday. StockNews.com downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. Finally, Stifel Nicolaus lowered Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price target for the company. in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $383.00.

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.