Atika Capital Management LLC Has $8.86 Million Stock Holdings in Curtiss-Wright Corporation $CW

Key Points

• Atika Capital Management LLC boosted its Curtiss-Wright position by 31.6% in the first quarter, ending with 13,000 shares valued at about $8.86 million. The stake now makes up roughly 1.1% of its portfolio.
• Curtiss-Wright reported strong quarterly results, with EPS of $3.48 beating estimates and revenue rising 13.4% year over year to $913.69 million. Analysts currently rate the stock a Moderate Buy with an average price target of $773.67.
• The stock was trading around $749.55 after a 2.3% move higher, and the company recently paid a $0.24 quarterly dividend. Insider selling also occurred, including transactions by the CFO and CEO under pre-arranged trading plans.

Atika Capital Management LLC increased its position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 31.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,000 shares of the aerospace company's stock after acquiring an additional 3,118 shares during the quarter. Curtiss-Wright comprises approximately 1.1% of Atika Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. Atika Capital Management LLC's holdings in Curtiss-Wright were worth $8,855,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CW. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Curtiss-Wright in the fourth quarter worth about $31,000. Larson Financial Group LLC raised 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 worth $33,000 after purchasing an additional 21 shares during the period. Transamerica Financial Advisors LLC lifted its holdings in shares of Curtiss-Wright by 25.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock valued at $40,000 after purchasing an additional 15 shares in the last quarter. Signature Equity Partners LLC lifted its holdings in shares of Curtiss-Wright by 140.0% during the 1st 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Curtiss-Wright in the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 82.71% of the company's stock.

Analysts Set New Price Targets

CW has been the topic of several research analyst reports. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a report on Friday, May 8th. Citigroup lifted their target price on Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a research report on Wednesday, July 1st. Morgan Stanley reiterated an "overweight" rating and issued a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. Stifel Nicolaus boosted their price objective on shares of Curtiss-Wright from $724.00 to $768.00 and gave the stock a "hold" rating in a research report on Monday. Finally, Weiss Ratings cut shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $773.67.

Curtiss-Wright Stock Up 2.3%

Curtiss-Wright stock opened at $749.55 on Friday. The company's 50-day moving average price is $745.17 and its two-hundred day moving average price is $706.10. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. The stock has a market cap of $27.69 billion, a P/E ratio of 54.91, a P/E/G ratio of 3.36 and a beta of 0.86. Curtiss-Wright Corporation has a twelve month low of $464.91 and a twelve month high of $808.16.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The company had revenue of $913.69 million during the quarter, compared to analysts' expectations of $863.83 million. During the same quarter in the previous year, the company posted $2.82 earnings per share. The business's revenue was up 13.4% on a year-over-year basis. As a group, analysts expect that Curtiss-Wright Corporation will post 15.22 EPS for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Monday, June 15th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright's dividend payout ratio (DPR) is currently 7.62%.

Insider Transactions at Curtiss-Wright

In related news, EVP John C. Watts sold 220 shares of the company'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 value of $165,640.20. Following the sale, the executive vice president directly owned 3,962 shares in the company, valued at $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 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 sale, the chief executive officer directly owned 48,134 shares of the company's stock, valued at $34,739,270.48. This represents a 4.94% decrease in their position. 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 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by company 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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