Man Group plc Buys Shares of 15,336 Curtiss-Wright Corporation $CW

Man Group plc purchased a new stake in Curtiss-Wright Corporation (NYSE:CW) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 15,336 shares of the aerospace company’s stock, valued at approximately $11,621,000.

Other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of Curtiss-Wright by 10.6% during the first quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company’s stock valued at $67,611,000 after acquiring an additional 20,379 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Curtiss-Wright in the 2nd quarter worth approximately $235,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Curtiss-Wright by 53.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock worth $49,000 after purchasing an additional 35 shares during the period. Marshall Wace LLP acquired a new stake in Curtiss-Wright in the 2nd quarter valued at approximately $5,423,000. Finally, Cresset Asset Management LLC raised its position in Curtiss-Wright by 46.4% in the second quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company’s stock valued at $705,000 after purchasing an additional 457 shares during the period. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Trading Down 1.4%

NYSE CW opened at $597.28 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. Curtiss-Wright Corporation has a 52 week low of $465.51 and a 52 week high of $808.16. The stock has a market capitalization of $22.06 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87. The firm has a 50 day moving average of $718.27 and a two-hundred day moving average of $714.61.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $926.17 million. During the same period last year, the business earned $3.23 EPS. The company’s revenue was up 5.4% on a year-over-year basis. As a group, research analysts expect that Curtiss-Wright Corporation will post 15.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley restated an “overweight” rating and set a $860.00 price target on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on Curtiss-Wright in a report on Wednesday, August 12th. Stifel Nicolaus lifted their target price on Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research report on Monday, July 20th. Finally, Wall Street Zen lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus target price of $782.50.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, EVP John C. Watts sold 1,035 shares of Curtiss-Wright stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the completion of the sale, the executive vice president directly owned 2,736 shares of the company’s stock, valued at $1,694,842.56. The trade was a 27.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,934 shares of company stock valued at $2,733,499 over the last quarter. 0.51% of the stock is owned by insiders.

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.