Curtiss-Wright (NYSE:CW) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Curtiss-Wright from “buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $782.50.
• Curtiss-Wright reported quarterly EPS of $3.72, beating estimates of $3.62, while revenue rose 5.4% year over year to $924.01 million, slightly below expectations.
• Company insiders sold 3,119 shares worth approximately $2.26 million over the past three months, while institutional investors continue to hold a substantial 82.71% of the stock.

Curtiss-Wright (NYSE:CW - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Several other brokerages have also recently commented on CW. Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research note on Friday, May 8th. Morgan Stanley restated an "overweight" rating and set a $860.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Stifel Nicolaus boosted their target price on Curtiss-Wright from $724.00 to $768.00 and gave the stock a "hold" rating in a research report on Monday, July 20th. Citigroup boosted their target price on Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Curtiss-Wright presently has a consensus rating of "Moderate Buy" and a consensus price target of $782.50.

Curtiss-Wright Stock Up 1.4%

Shares of CW opened at $698.64 on Friday. The business's 50 day moving average is $741.61 and its 200 day moving average is $715.55. The company has a market capitalization of $25.80 billion, a PE ratio of 48.08, a price-to-earnings-growth ratio of 3.11 and a beta of 0.87. Curtiss-Wright has a 12-month low of $465.51 and a 12-month high of $808.16. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The business had revenue of $924.01 million during the quarter, compared to the consensus estimate of $926.17 million. During the same period in the prior year, the company posted $3.23 EPS. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts expect that Curtiss-Wright will post 15.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Lynn M. Bamford sold 2,500 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the sale, the chief executive officer directly owned 48,134 shares in the company, valued at $34,739,270.48. The trade was a 4.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the sale, the executive vice president owned 3,962 shares in the company, valued at $2,983,029.42. This represents a 5.26% 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 sold 3,119 shares of company stock valued at $2,257,998 in the last three months. Corporate insiders own 0.51% of the company's stock.

Institutional Investors Weigh In On Curtiss-Wright

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in shares of Curtiss-Wright in the 2nd quarter worth approximately $30,000. Fiduciary Financial Advisors purchased a new stake in Curtiss-Wright during the 2nd quarter valued at $31,000. Elevation Wealth Partners LLC lifted its position in Curtiss-Wright by 237.5% in the second quarter. Elevation Wealth Partners LLC now owns 54 shares of the aerospace company's stock worth $41,000 after buying an additional 38 shares during the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in Curtiss-Wright during the fourth quarter worth $31,000. Finally, Signature Equity Partners LLC increased its position in Curtiss-Wright by 140.0% during the first quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company's stock valued at $41,000 after acquiring an additional 35 shares during the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

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