Algert Global LLC Sells 16,763 Shares of Curtiss-Wright Corporation $CW

Key Points

• Algert Global reduced its Curtiss-Wright stake by 70.6% in the second quarter, selling 16,763 shares and retaining 6,993 shares valued at approximately $5.3 million. Institutional investors collectively own 82.71% of the company.
• Analyst sentiment remains positive but mixed, with Curtiss-Wright carrying a “Moderate Buy” consensus rating and an average price target of $782.50; ratings include three Buys and three Holds.
• Curtiss-Wright exceeded quarterly earnings expectations, reporting $3.72 in EPS versus the $3.62 consensus estimate, while revenue rose 5.4% year over year to $924.01 million. Insiders have sold 3,934 shares worth about $2.73 million over the past 90 days.

Algert Global LLC cut its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 70.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,993 shares of the aerospace company's stock after selling 16,763 shares during the quarter. Algert Global LLC's holdings in Curtiss-Wright were worth $5,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in Curtiss-Wright in the 2nd quarter valued at $30,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Curtiss-Wright during the fourth quarter valued at about $31,000. Larson Financial Group LLC lifted its position in shares of Curtiss-Wright by 53.8% during the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock valued at $33,000 after purchasing an additional 21 shares in the last quarter. Transamerica Financial Advisors LLC boosted its holdings in Curtiss-Wright by 25.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after purchasing an additional 15 shares during the last quarter. Finally, Signature Equity Partners LLC boosted its holdings in Curtiss-Wright by 140.0% during the first quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company's stock worth $41,000 after purchasing an additional 35 shares during the last quarter. Institutional investors own 82.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Morgan Stanley restated an "overweight" rating and issued a $860.00 target price on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Wall Street Zen lowered Curtiss-Wright from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Weiss Ratings raised Curtiss-Wright from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, August 21st. Finally, Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a report on Wednesday, August 12th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Curtiss-Wright currently has an average rating of "Moderate Buy" and an average price target of $782.50.

Curtiss-Wright Stock Performance

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 price-to-earnings ratio of 41.69, a PEG ratio of 2.79 and a beta of 0.87. The business's fifty day moving average is $721.95 and its 200 day moving average is $715.43.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued 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. 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%.The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.23 EPS. Research analysts predict that Curtiss-Wright Corporation will post 15.28 EPS for the current year.

Insider Transactions at Curtiss-Wright

In other news, EVP John C. Watts sold 1,035 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total value of $641,141.10. Following the completion of the transaction, 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lynn M. Bamford sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the transaction, the chief executive officer owned 48,134 shares of the company's stock, valued at $34,739,270.48. This trade represents a 4.94% 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. Over the last ninety days, insiders have sold 3,934 shares of company stock valued at $2,733,499. 0.51% of the stock is currently owned by corporate insiders.

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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