Cibc World Market Inc. Acquires Shares of 1,205 Curtiss-Wright Corporation $CW

Cibc World Market Inc. acquired a new position in shares of Curtiss-Wright Corporation (NYSE:CW) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,205 shares of the aerospace company’s stock, valued at approximately $913,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Curtiss-Wright during the 2nd quarter valued at approximately $3,448,649,000. State Street Corp lifted 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 purchasing an additional 16,962 shares during the last quarter. Invesco Ltd. lifted 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 purchasing an additional 88,688 shares during the last quarter. Geode Capital Management LLC boosted its position in Curtiss-Wright by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock valued at $464,130,000 after buying an additional 47,287 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Curtiss-Wright by 9.3% in the fourth quarter. AQR Capital Management LLC now owns 533,264 shares of the aerospace company’s stock valued at $293,972,000 after buying an additional 45,589 shares in the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

Shares of NYSE:CW opened at $605.70 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. Curtiss-Wright Corporation has a 52 week low of $465.51 and a 52 week high of $808.16. The firm has a market cap of $22.37 billion, a PE ratio of 41.69, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87. The firm’s fifty day moving average is $721.95 and its 200-day moving average is $715.43.

Curtiss-Wright (NYSE:CW) last posted 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. The business had revenue of $924.01 million during the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.Curtiss-Wright’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.23 earnings per share. Sell-side analysts predict that Curtiss-Wright Corporation will post 15.28 earnings per share for the current year.

Insider Buying and Selling at Curtiss-Wright

In related news, EVP John C. Watts sold 1,035 shares of Curtiss-Wright stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gary A. Ogilby sold 399 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,934 shares of company stock worth $2,733,499. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 21st. Wall Street Zen downgraded Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on Curtiss-Wright in a research report on Wednesday, August 12th. Stifel Nicolaus upped their target price on Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Finally, Morgan Stanley reissued an “overweight” rating and set a $860.00 price target on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $782.50.

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.