Gabelli Funds LLC Sells 15,800 Shares of Curtiss-Wright Co. (NYSE:CW)

Gabelli Funds LLC lessened its stake in Curtiss-Wright Co. (NYSE:CW) by 12.8% during the fourth quarter, Holdings Channel reports. The firm owned 108,036 shares of the aerospace company’s stock after selling 15,800 shares during the period. Gabelli Funds LLC’s holdings in Curtiss-Wright were worth $38,339,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CW. YANKCOM Partnership bought a new position in Curtiss-Wright during the 4th quarter valued at $31,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Curtiss-Wright during the 3rd quarter worth $53,000. UMB Bank n.a. boosted its holdings 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 worth $60,000 after buying an additional 64 shares during the last quarter. Morse Asset Management Inc bought a new position in Curtiss-Wright during the third quarter valued at about $69,000. Finally, Smartleaf Asset Management LLC increased its holdings in Curtiss-Wright by 85.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 228 shares of the aerospace company’s stock worth $82,000 after buying an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Insider Activity at Curtiss-Wright

In related news, VP John C. Watts sold 622 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 5,072 shares of the company’s stock, valued at $1,760,237.60. This trade represents a 10.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lynn M. Bamford sold 8,289 shares of Curtiss-Wright stock in a transaction that occurred on 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 sale, the chief executive officer now owns 38,905 shares of the company’s stock, valued at approximately $13,494,977.35. The trade was a 17.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,797 shares of company stock valued at $7,436,255. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

CW has been the subject of a number of research reports. Stifel Nicolaus reduced their target price on shares of Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a research report on Monday. Citigroup decreased their target price on Curtiss-Wright from $450.00 to $424.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Truist Financial upped their price target on Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.14.

Curtiss-Wright Stock Performance

NYSE:CW opened at $318.05 on Tuesday. Curtiss-Wright Co. has a 52-week low of $246.43 and a 52-week high of $393.40. The business’s fifty day moving average is $321.52 and its 200 day moving average is $345.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.69. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.48 and a beta of 1.03.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, February 12th. The aerospace company reported $3.27 earnings per share (EPS) for the quarter, topping 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%. Research analysts predict that Curtiss-Wright Co. will post 12.32 EPS for the current year.

Curtiss-Wright Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Thursday, March 27th were given a $0.21 dividend. The ex-dividend date was Thursday, March 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.26%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 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.