Ameriprise Financial Inc. Sells 13,433 Shares of Curtiss-Wright Corporation $CW

Key Points

• Ameriprise Financial Inc. reduced its stake in Curtiss-Wright Corporation by 4.6%, owning 281,553 shares valued at approximately $89.3 million after selling 13,433 shares in the first quarter.
• Curtiss-Wright's quarterly earnings beat expectations with $3.23 EPS against a consensus estimate of $3.13, alongside a revenue of $876.58 million, which surpassed expectations of $855.10 million.
• Institutional investors own 82.71% of Curtiss-Wright's stock, highlighting significant interest in the company from larger financial entities.

Ameriprise Financial Inc. lowered its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 281,553 shares of the aerospace company's stock after selling 13,433 shares during the quarter. Ameriprise Financial Inc. owned 0.75% of Curtiss-Wright worth $89,329,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its position in Curtiss-Wright by 98.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,664 shares of the aerospace company's stock valued at $1,163,000 after purchasing an additional 1,817 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Curtiss-Wright by 100.4% during the first quarter. Vontobel Holding Ltd. now owns 1,140 shares of the aerospace company's stock valued at $362,000 after acquiring an additional 571 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Curtiss-Wright during the first quarter valued at approximately $240,000. Janney Montgomery Scott LLC raised its holdings in shares of Curtiss-Wright by 37.7% during the first quarter. Janney Montgomery Scott LLC now owns 3,652 shares of the aerospace company's stock valued at $1,159,000 after acquiring an additional 999 shares in the last quarter. Finally, Mission Wealth Management LP bought a new position in shares of Curtiss-Wright during the first quarter valued at approximately $206,000. Institutional investors own 82.71% of the company's stock.

Curtiss-Wright Price Performance

Shares of CW stock opened at $478.93 on Tuesday. The stock has a market cap of $18.05 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 2.95 and a beta of 1.18. The business's fifty day moving average is $484.45 and its 200 day moving average is $401.70. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $517.09. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35.

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

Insider Buying and Selling at Curtiss-Wright

In other news, Director Bruce D. Hoechner sold 1,900 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the sale, the director directly owned 4,523 shares of the company's stock, valued at approximately $2,026,304. This represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP John C. Watts sold 1,110 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $480.50, for a total value of $533,355.00. Following the completion of the sale, the vice president directly owned 3,863 shares in the company, valued at approximately $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,460 shares of company stock worth $1,586,767. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CW. Wall Street Zen downgraded Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Citigroup upped their target price on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a report on Monday, July 14th. Robert W. Baird upped their target price on Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Morgan Stanley upped their target price on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Truist Financial decreased their target price on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a report on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $468.14.

About Curtiss-Wright

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.

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