Gabelli Funds LLC Decreases Holdings in Curtiss-Wright Co. (NYSE:CW)

Gabelli Funds LLC reduced its stake in Curtiss-Wright Co. (NYSE:CW) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,790 shares of the aerospace company’s stock after selling 2,000 shares during the period. Gabelli Funds LLC owned approximately 0.33% of Curtiss-Wright worth $34,358,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CW. Versant Capital Management Inc boosted its stake in Curtiss-Wright by 5,050.0% during the 2nd quarter. Versant Capital Management Inc now owns 103 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 101 shares during the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in shares of Curtiss-Wright in the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its position in shares of Curtiss-Wright by 1,933.3% during the first quarter. EverSource Wealth Advisors LLC now owns 122 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 116 shares during the last quarter. Creekmur Asset Management LLC acquired a new position in Curtiss-Wright in the fourth quarter worth about $32,000. Finally, Daiwa Securities Group Inc. bought a new stake in Curtiss-Wright in the second quarter valued at about $73,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Price Performance

NYSE CW opened at $328.50 on Friday. The company has a 50-day moving average price of $296.25 and a two-hundred day moving average price of $275.43. Curtiss-Wright Co. has a 52 week low of $190.64 and a 52 week high of $328.83. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 33.83 and a beta of 1.18. The company has a current ratio of 2.05, a quick ratio of 1.42 and a debt-to-equity ratio of 0.39.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Wednesday, August 7th. The aerospace company reported $2.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.43. The business had revenue of $785.00 million during the quarter, compared to analyst estimates of $735.82 million. Curtiss-Wright had a return on equity of 17.07% and a net margin of 13.05%. During the same period in the prior year, the company posted $2.15 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts forecast that Curtiss-Wright Co. will post 10.55 EPS for the current year.

Curtiss-Wright Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, September 27th. Curtiss-Wright’s dividend payout ratio is currently 8.65%.

Insider Buying and Selling

In other Curtiss-Wright news, Director Glenda J. Minor sold 500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $302.80, for a total transaction of $151,400.00. Following the sale, the director now directly owns 1,382 shares in the company, valued at approximately $418,469.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 120 shares of company stock valued at $27,914 over the last 90 days. 0.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CW shares. StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 12th. Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $310.00 to $318.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Robert W. Baird increased their price objective on shares of Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $307.50.

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.