Alliancebernstein L.P. Has $166.97 Million Stock Position in Curtiss-Wright Corporation $CW

Key Points

• Alliancebernstein L.P. reduced its stake in Curtiss-Wright Corporation by 11.2%, selling 66,045 shares during the first quarter to own 526,281 shares valued at $166.97 million.
• Several institutional investors, including AQR Capital Management LLC and Amundi, increased their holdings in Curtiss-Wright during the same period, with AQR boosting its stake by 25.6%.
• Curtiss-Wright reported a quarterly EPS of $3.23, exceeding estimates, with revenue up 11.7% year-over-year, indicating strong financial performance despite market fluctuations.

Alliancebernstein L.P. reduced its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 526,281 shares of the aerospace company's stock after selling 66,045 shares during the period. Alliancebernstein L.P. owned about 1.40% of Curtiss-Wright worth $166,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Minot DeBlois Advisors LLC bought a new position in shares of Curtiss-Wright in the 4th quarter worth about $35,000. Whipplewood Advisors LLC boosted its stake in Curtiss-Wright by 1,566.7% in the first quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company's stock valued at $32,000 after acquiring an additional 94 shares during the period. 1 North Wealth Services LLC bought a new position in shares of Curtiss-Wright during the first quarter valued at approximately $32,000. Ancora Advisors LLC acquired a new stake in shares of Curtiss-Wright during the 4th quarter worth approximately $49,000. Finally, Private Trust Co. NA lifted its holdings in shares of Curtiss-Wright by 13,800.0% in the 1st quarter. Private Trust Co. NA now owns 139 shares of the aerospace company's stock worth $44,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

Curtiss-Wright Price Performance

NYSE:CW traded up $7.96 during mid-day trading on Wednesday, reaching $489.68. 63,289 shares of the stock were exchanged, compared to its average volume of 307,648. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average price of $486.06 and a 200 day moving average price of $412.60. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $517.09. The firm has a market capitalization of $18.45 billion, a PE ratio of 41.26, a PEG ratio of 2.97 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The company had revenue of $876.58 million during the quarter, compared to analyst estimates of $855.10 million. During the same quarter last year, the firm posted $2.67 EPS. The business's revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Insider Activity at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the sale, the vice president directly owned 3,863 shares of the company's stock, valued at $1,856,171.50. This trade represents a 22.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.55% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen cut Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Truist Financial decreased their target price on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research report on Friday, July 11th. Stifel Nicolaus boosted their price objective on Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Morgan Stanley increased their price objective on Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Citigroup lifted their target price on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $468.14.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.