Amundi Acquires 49,907 Shares of Curtiss-Wright Corporation $CW

Key Points

• Amundi increased its Curtiss-Wright stake by 47.6% in the second quarter, acquiring 49,907 shares and bringing its holdings to 154,668 shares worth approximately $117.2 million. Institutional investors collectively own 82.71% of the company.
• Curtiss-Wright reported quarterly earnings of $3.72 per share, exceeding estimates of $3.62, while revenue rose 5.4% year over year to $924.0 million, slightly below expectations.
• Analysts maintain a consensus “Hold” rating, with an average price target of $765.71; recent targets ranged from $665 to $860. The stock opened at $565.01, down 1.3%.

Amundi increased its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 47.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,668 shares of the aerospace company's stock after acquiring an additional 49,907 shares during the quarter. Amundi owned about 0.42% of Curtiss-Wright worth $117,201,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Curtiss-Wright in the second quarter valued at $30,000. Quantbot Technologies LP acquired a new position in Curtiss-Wright in the 2nd quarter valued at about $30,000. Cary Street Partners Investment Advisory LLC acquired a new position in Curtiss-Wright in the 4th quarter valued at about $31,000. Fiduciary Financial Advisors bought a new position in Curtiss-Wright in the 2nd quarter valued at about $31,000. Finally, Larson Financial Group LLC raised its holdings in Curtiss-Wright by 53.8% in the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock valued at $33,000 after acquiring an additional 21 shares during the period. Institutional investors own 82.71% of the company's stock.

Curtiss-Wright Stock Down 1.3%

NYSE CW opened at $565.01 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The company has a market cap of $20.87 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 2.59 and a beta of 0.84. The company has a 50 day moving average of $687.85 and a 200-day moving average of $709.08. Curtiss-Wright Corporation has a 1-year low of $481.70 and a 1-year high of $808.16.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, topping analysts' consensus estimates of $3.62 by $0.10. The firm had revenue of $924.01 million for the quarter, compared to analyst estimates of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The company's revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $3.23 EPS. On average, equities research analysts expect that Curtiss-Wright Corporation will post 15.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CW. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on Curtiss-Wright in a report on Wednesday, August 12th. Morgan Stanley reissued an "overweight" rating and set a $860.00 price target on shares of Curtiss-Wright in a report on Wednesday, July 15th. Stifel Nicolaus boosted their price target on Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research note on Monday, July 20th. Piper Sandler assumed coverage on Curtiss-Wright in a report on Wednesday, September 2nd. They issued a "neutral" rating and a $665.00 price objective on the stock. Finally, Citigroup increased their price objective on Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $765.71.

Insiders Place Their Bets

In related news, Director Larry D. Wyche sold 100 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total transaction of $59,674.00. Following the completion of the sale, the director owned 1,414 shares of the company's stock, valued at $843,790.36. This represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Watts sold 1,035 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the sale, the executive vice president owned 2,736 shares in the company, valued at $1,694,842.56. The trade was a 27.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by company insiders.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation NYSE: CW is a diversified industrial company that develops and manufactures highly engineered products and services for the aerospace, defense, commercial nuclear and general industrial markets. Its offerings include sensors, actuators, valves, pumps, electronic systems, embedded computing products, surface-treatment services and other components designed for demanding operating environments.

The company serves aerospace and defense customers with products used in aircraft, naval vessels, ground vehicles, missile systems and other defense platforms.

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