ING Groep NV Sells 22,000 Shares of Curtiss-Wright Co. (NYSE:CW)

ING Groep NV lessened its stake in shares of Curtiss-Wright Co. (NYSE:CW) by 73.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the aerospace company’s stock after selling 22,000 shares during the period. ING Groep NV’s holdings in Curtiss-Wright were worth $2,839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. YANKCOM Partnership acquired a new stake in shares of Curtiss-Wright during the 4th quarter worth $31,000. Wilmington Savings Fund Society FSB acquired a new stake in Curtiss-Wright during the third quarter worth about $53,000. Brooklyn Investment Group bought a new position in Curtiss-Wright in the 3rd quarter valued at about $59,000. UMB Bank n.a. raised its position in shares of Curtiss-Wright by 61.0% in the 4th quarter. UMB Bank n.a. now owns 169 shares of the aerospace company’s stock valued at $60,000 after buying an additional 64 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new position in shares of Curtiss-Wright in the 3rd quarter valued at approximately $69,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CW has been the topic of several analyst reports. Alembic Global Advisors assumed coverage on shares of Curtiss-Wright in a research report on Tuesday, October 29th. They set an “overweight” rating and a $412.00 price target on the stock. Truist Financial lifted 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 began coverage on Curtiss-Wright in a report on Tuesday, January 21st. They set a “buy” rating and a $410.00 price target for the company. Morgan Stanley raised their price objective on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Curtiss-Wright in a research note on Thursday, December 5th. They set a “buy” rating and a $452.00 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $386.86.

Insiders Place Their Bets

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 8,289 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was 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 in the company, valued at approximately $13,494,977.35. The trade was a 17.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John C. Watts sold 622 shares of the stock in a transaction dated 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 directly owns 5,072 shares of the company’s stock, valued at approximately $1,760,237.60. The trade was a 10.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 116 shares of company stock valued at $35,278 and have sold 23,064 shares valued at $8,157,322. Insiders own 0.67% of the company’s stock.

Curtiss-Wright Trading Down 4.3 %

NYSE CW opened at $316.15 on Friday. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 2.48 and a beta of 1.19. Curtiss-Wright Co. has a twelve month low of $234.37 and a twelve month high of $393.40. 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 business’s fifty day moving average is $352.38 and its 200 day moving average is $343.34.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, February 12th. The aerospace company reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.12 by $0.15. Curtiss-Wright had a return on equity of 17.11% and a net margin of 12.98%. As a group, sell-side analysts expect that Curtiss-Wright Co. will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Thursday, March 27th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Thursday, March 27th. 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.