Oppenheimer Asset Management Inc. Acquires New Shares in Curtiss-Wright Corporation $CW

Oppenheimer Asset Management Inc. bought a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) during the second quarter, Holdings Channel.com reports. The fund bought 5,255 shares of the aerospace company’s stock, valued at approximately $3,982,000.

Other large investors have also recently made changes to their positions in the company. CWM LLC grew its holdings in Curtiss-Wright by 75.8% during the 4th quarter. CWM LLC now owns 18,425 shares of the aerospace company’s stock valued at $10,157,000 after buying an additional 7,944 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Curtiss-Wright by 114.8% during the fourth quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company’s stock valued at $5,931,000 after buying an additional 5,749 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Curtiss-Wright in the fourth quarter worth about $1,104,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Curtiss-Wright by 39,282.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 64,587 shares of the aerospace company’s stock worth $35,605,000 after buying an additional 64,423 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd boosted its position in shares of Curtiss-Wright by 72.8% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 7,432 shares of the aerospace company’s stock valued at $4,097,000 after acquiring an additional 3,132 shares during the period. 82.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Curtiss-Wright Price Performance

CW stock opened at $698.64 on Friday. The firm has a 50 day simple moving average of $741.61 and a two-hundred day simple moving average of $715.55. The stock has a market cap of $25.80 billion, a PE ratio of 48.08, a P/E/G ratio of 3.15 and a beta of 0.87. Curtiss-Wright Corporation has a one year low of $465.51 and a one year high of $808.16. 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 (NYSE:CW) last posted its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.10. The company had revenue of $924.01 million during the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.23 EPS. On average, analysts predict that Curtiss-Wright Corporation will post 15.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CW. Stifel Nicolaus boosted their price objective 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. Morgan Stanley reiterated an “overweight” rating and issued a $860.00 target price on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a report on Wednesday. Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Finally, Citigroup upped their price target 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. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $782.50.

Curtiss-Wright 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.