Cibc World Market Inc. Takes $913,000 Position in Curtiss-Wright Corporation $CW

Cibc World Market Inc. acquired a new position in shares of Curtiss-Wright Corporation (NYSE:CW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,205 shares of the aerospace company’s stock, valued at approximately $913,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CW. BlackRock Inc. acquired a new stake in shares of Curtiss-Wright in the second quarter valued at approximately $3,448,649,000. State Street Corp raised its stake in Curtiss-Wright by 1.2% in the 3rd quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after acquiring an additional 16,962 shares during the period. Invesco Ltd. raised its stake in Curtiss-Wright by 7.9% in the 4th quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company’s stock valued at $671,231,000 after acquiring an additional 88,688 shares during the period. Geode Capital Management LLC lifted its holdings in Curtiss-Wright by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock valued at $464,130,000 after purchasing an additional 47,287 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Curtiss-Wright by 9.3% during the 4th quarter. AQR Capital Management LLC now owns 533,264 shares of the aerospace company’s stock valued at $293,972,000 after purchasing an additional 45,589 shares during the last quarter. 82.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on shares of Curtiss-Wright in a report on Wednesday, August 12th. Citigroup lifted 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. Morgan Stanley reiterated an “overweight” rating and issued a $860.00 price target on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Wall Street Zen cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $782.50.

Insider Buying and Selling

In other news, CEO Lynn M. Bamford sold 2,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the sale, the chief executive officer directly owned 48,134 shares in the company, valued at approximately $34,739,270.48. This represents a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 1,035 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value of $641,141.10. Following the sale, the executive vice president directly owned 2,736 shares in the company, valued at approximately $1,694,842.56. This trade represents a 27.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,934 shares of company stock valued at $2,733,499 over the last 90 days. 0.51% of the stock is owned by corporate insiders.

Curtiss-Wright Stock Performance

NYSE CW opened at $605.70 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $22.37 billion, a P/E ratio of 41.69, a P/E/G ratio of 2.79 and a beta of 0.87. Curtiss-Wright Corporation has a 12-month low of $465.51 and a 12-month high of $808.16. The firm has a 50-day moving average price of $721.95 and a two-hundred day moving average price of $715.43.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The company had revenue of $924.01 million for the quarter, compared to analysts’ expectations of $926.17 million. During the same period last year, the firm earned $3.23 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts anticipate that Curtiss-Wright Corporation will post 15.28 earnings per share for the current year.

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.