Nicholas Investment Partners LP Takes $4.74 Million Position in Curtiss-Wright Corporation $CW

Nicholas Investment Partners LP acquired a new position in shares of Curtiss-Wright Corporation (NYSE:CW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,251 shares of the aerospace company’s stock, valued at approximately $4,737,000.

Other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in Curtiss-Wright during the second quarter valued at approximately $30,000. Fiduciary Financial Advisors bought a new position in shares of Curtiss-Wright in the 2nd quarter worth $31,000. Elevation Wealth Partners LLC raised its position in shares of Curtiss-Wright by 237.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 54 shares of the aerospace company’s stock valued at $41,000 after buying an additional 38 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Curtiss-Wright during the 4th quarter worth $31,000. Finally, Signature Equity Partners LLC grew its position in Curtiss-Wright by 140.0% in the first quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 35 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors.

Curtiss-Wright Price Performance

Shares of NYSE:CW opened at $614.51 on Tuesday. 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 stock has a market cap of $22.69 billion, a PE ratio of 42.29, a PEG ratio of 2.86 and a beta of 0.87. The company’s fifty day moving average is $731.72 and its 200 day moving average is $715.86. Curtiss-Wright Corporation has a 52 week low of $465.51 and a 52 week high of $808.16.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $924.01 million during the quarter, compared to analyst estimates of $926.17 million. During the same period in the prior year, the business posted $3.23 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts anticipate that Curtiss-Wright Corporation will post 15.28 earnings per share for the current year.

Insider Activity

In related news, VP Gary A. Ogilby sold 399 shares of the firm’s 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 transaction, the vice president directly owned 2,172 shares in the company, valued at $1,568,075.40. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the transaction, the chief executive officer directly owned 48,134 shares in the company, valued at $34,739,270.48. This trade represents a 4.94% 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. In the last quarter, insiders sold 3,119 shares of company stock valued at $2,257,998. Insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CW shares. Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a research report on Wednesday, August 12th. Citigroup upped their price objective on Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating and set a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. Weiss Ratings raised Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Finally, Wall Street Zen downgraded Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $782.50.

About Curtiss-Wright

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.