Assenagon Asset Management S.A. Has $7.73 Million Position in Curtiss-Wright Corporation $CW

Key Points

• Assenagon Asset Management increased its Curtiss-Wright stake by 1,322.5% in the second quarter, owning 10,199 shares valued at approximately $7.73 million. Institutional investors collectively hold 82.71% of the company.
• Curtiss-Wright reported quarterly earnings of $3.72 per share, beating estimates of $3.62, while revenue rose 5.4% year over year to $924.01 million. Shares opened at $704.03, below the 52-week high of $808.16.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $773.67, although insiders sold 3,119 shares worth about $2.26 million over the past 90 days.

Assenagon Asset Management S.A. boosted its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 1,322.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 10,199 shares of the aerospace company's stock after acquiring an additional 9,482 shares during the period. Assenagon Asset Management S.A.'s holdings in Curtiss-Wright were worth $7,728,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CW. Cary Street Partners Investment Advisory LLC bought a new position in Curtiss-Wright during the fourth quarter worth about $31,000. Larson Financial Group LLC raised its position in shares of 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. Transamerica Financial Advisors LLC boosted its stake in Curtiss-Wright by 25.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after acquiring an additional 15 shares during the last quarter. Signature Equity Partners LLC grew 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 valued at $41,000 after purchasing an additional 35 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Curtiss-Wright during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 82.71% of the company's stock.

Curtiss-Wright Price Performance

Shares of CW opened at $704.03 on Wednesday. The company has a market cap of $26.00 billion, a price-to-earnings ratio of 48.45, a PEG ratio of 3.17 and a beta of 0.87. Curtiss-Wright Corporation has a 1-year low of $465.51 and a 1-year high of $808.16. The company's fifty day simple moving average is $743.64 and its 200 day simple moving average is $714.92. 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 announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, beating analysts' consensus estimates of $3.62 by $0.10. The firm had revenue of $924.01 million during the quarter, compared to analysts' expectations of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.23 earnings per share. On average, research analysts forecast that Curtiss-Wright Corporation will post 15.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a report on Wednesday, July 1st. Stifel Nicolaus boosted their target price on Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research note on Monday, July 20th. Morgan Stanley reaffirmed an "overweight" rating and set a $860.00 price target on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Weiss Ratings lowered Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday. Finally, Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Curtiss-Wright presently has an average rating of "Moderate Buy" and a consensus price target of $773.67.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, EVP John C. Watts sold 220 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the transaction, the executive vice president owned 3,962 shares of the company's stock, valued at $2,983,029.42. The trade was a 5.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the company'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 value of $1,804,300.00. Following the completion of the sale, the chief executive officer owned 48,134 shares in the company, valued at $34,739,270.48. This represents a 4.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 3,119 shares of company stock worth $2,257,998. Insiders own 0.51% of the company's stock.

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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