Burney Co. Lowers Stake in Curtiss-Wright Co. (NYSE:CW)

Burney Co. decreased its position in Curtiss-Wright Co. (NYSE:CW) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,040 shares of the aerospace company’s stock after selling 889 shares during the quarter. Burney Co.’s holdings in Curtiss-Wright were worth $9,951,000 as of its most recent SEC filing.

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

Insider Activity

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CW shares. Stifel Nicolaus cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price objective for the company. in a research report on Monday, November 18th. Morgan Stanley raised their target price on Curtiss-Wright from $334.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Alembic Global Advisors began coverage on Curtiss-Wright in a research note on Tuesday, October 29th. They set an “overweight” rating and a $412.00 target price for the company. StockNews.com cut shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Curtiss-Wright in a report on Thursday, December 5th. They issued a “buy” rating and a $452.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $383.00.

Curtiss-Wright Stock Performance

Shares of CW opened at $366.20 on Wednesday. The company’s 50 day simple moving average is $364.85 and its 200-day simple moving average is $329.13. The firm has a market cap of $13.90 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.92 and a beta of 1.18. Curtiss-Wright Co. has a 12-month low of $217.57 and a 12-month high of $393.40. The company has a current ratio of 1.98, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39.

Curtiss-Wright Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 22nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.84 dividend on an annualized basis and a yield of 0.23%. Curtiss-Wright’s dividend payout ratio is presently 7.95%.

Curtiss-Wright Company 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.