State of Michigan Retirement System Sells 100 Shares of Curtiss-Wright Co. (NYSE:CW)

State of Michigan Retirement System cut its stake in Curtiss-Wright Co. (NYSE:CW) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,961 shares of the aerospace company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Curtiss-Wright were worth $3,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Atomi Financial Group Inc. bought a new stake in shares of Curtiss-Wright during the fourth quarter valued at approximately $239,000. Truist Financial Corp lifted its position in Curtiss-Wright by 6.2% during the fourth quarter. Truist Financial Corp now owns 14,230 shares of the aerospace company’s stock valued at $5,050,000 after buying an additional 825 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Curtiss-Wright during the third quarter valued at $542,000. Fisher Asset Management LLC boosted its holdings in shares of Curtiss-Wright by 8.4% during the 3rd quarter. Fisher Asset Management LLC now owns 70,454 shares of the aerospace company’s stock valued at $23,158,000 after buying an additional 5,437 shares in the last quarter. Finally, Athena Investment Management purchased a new stake in shares of Curtiss-Wright in the 4th quarter worth about $302,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP John C. Watts sold 622 shares of Curtiss-Wright stock in a transaction on Wednesday, February 5th. The stock was 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 of the company’s stock, valued at $1,760,237.60. The trade was a 10.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lynn M. Bamford sold 8,289 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $346.87, for a total value of $2,875,205.43. Following the sale, the chief executive officer now owns 38,905 shares of the company’s stock, valued at approximately $13,494,977.35. This trade represents a 17.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 116 shares of company stock valued at $35,278 and sold 23,064 shares valued at $8,157,322. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CW shares. Truist Financial boosted their price objective on shares of Curtiss-Wright from $333.00 to $357.00 and gave the stock a “hold” rating in a research note on Tuesday, January 14th. Citigroup assumed coverage on Curtiss-Wright in a research report on Tuesday, January 21st. They issued a “buy” rating and a $410.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on Curtiss-Wright in a research note on Thursday, December 5th. They issued a “buy” rating and a $452.00 price target on the stock. Finally, Stifel Nicolaus cut Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price objective for the company. in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus price target of $386.86.

Curtiss-Wright Trading Up 0.3 %

NYSE:CW opened at $314.45 on Friday. The stock has a market cap of $11.84 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 2.48 and a beta of 1.19. The company has a quick ratio of 1.19, a current ratio of 1.69 and a debt-to-equity ratio of 0.39. The company’s 50 day moving average price is $344.51 and its 200-day moving average price is $344.45. Curtiss-Wright Co. has a 52 week low of $236.31 and a 52 week high of $393.40.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Wednesday, February 12th. The aerospace company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.12 by $0.15. Curtiss-Wright had a return on equity of 17.11% and a net margin of 12.98%. On average, equities research analysts forecast that Curtiss-Wright Co. will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Thursday, March 27th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.84 annualized dividend and a yield of 0.27%. Curtiss-Wright’s payout ratio is 7.96%.

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.