Wedge Capital Management L L P NC Buys 15,563 Shares of Curtiss-Wright Corporation $CW

Wedge Capital Management L L P NC raised its stake in shares of Curtiss-Wright Corporation (NYSE:CW) by 17.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 105,608 shares of the aerospace company’s stock after buying an additional 15,563 shares during the quarter. Curtiss-Wright makes up about 1.3% of Wedge Capital Management L L P NC’s holdings, making the stock its 12th largest holding. Wedge Capital Management L L P NC’s holdings in Curtiss-Wright were worth $80,026,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CW. Norges Bank bought a new stake in shares of Curtiss-Wright in the fourth quarter worth $290,633,000. Corient Private Wealth LLC lifted its holdings in Curtiss-Wright by 6,169.8% in the fourth quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company’s stock valued at $224,108,000 after acquiring an additional 400,047 shares during the period. Franklin Resources Inc. boosted its position in Curtiss-Wright by 61.0% in the fourth quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company’s stock worth $270,392,000 after purchasing an additional 185,887 shares during the last quarter. Cardano Risk Management B.V. purchased a new position in Curtiss-Wright in the second quarter worth about $108,311,000. Finally, Axiom Investors LLC DE bought a new stake in Curtiss-Wright during the fourth quarter valued at approximately $76,892,000. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Gary A. Ogilby sold 399 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the transaction, the vice president directly owned 2,172 shares of the company’s stock, valued at approximately $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the transaction, the executive vice president owned 3,962 shares of the company’s stock, valued at $2,983,029.42. This represents a 5.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,119 shares of company stock worth $2,257,998 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.

Curtiss-Wright Trading Up 1.4%

Shares of CW opened at $704.03 on Wednesday. The firm has a market cap of $26.00 billion, a P/E ratio of 48.45, a price-to-earnings-growth ratio of 3.17 and a beta of 0.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12. Curtiss-Wright Corporation has a 1 year low of $465.51 and a 1 year high of $808.16. The company has a 50 day simple moving average of $743.64 and a two-hundred day simple moving average of $714.92.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.10. The firm had revenue of $924.01 million during the quarter, compared to analyst estimates of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. Curtiss-Wright’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.23 earnings per share. On average, equities analysts expect that Curtiss-Wright Corporation will post 15.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CW. Morgan Stanley reissued an “overweight” rating and set a $860.00 price target on shares of Curtiss-Wright in a report on Wednesday, July 15th. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research report on Friday, May 8th. Stifel Nicolaus lifted their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Citigroup upped their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings lowered Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus target price of $773.67.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.