Bank of Nova Scotia Invests $2.73 Million in Curtiss-Wright Corporation $CW

Key Points

• Bank of Nova Scotia initiated a $2.73 million position in Curtiss-Wright during the second quarter, while institutional investors collectively own 82.71% of the company.
• Analyst sentiment remains positive, with Curtiss-Wright holding a “Moderate Buy” consensus rating and an average price target of $782.50, despite one recent downgrade to “Hold.”
• Curtiss-Wright exceeded quarterly EPS expectations, reporting $3.72 versus the $3.62 consensus estimate, while revenue rose 5.4% year over year to $924.01 million. Executives also sold shares under pre-arranged trading plans.

Bank of Nova Scotia purchased a new position in Curtiss-Wright Corporation (NYSE:CW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,599 shares of the aerospace company's stock, valued at approximately $2,727,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in shares of Curtiss-Wright by 10.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company's stock valued at $67,611,000 after buying an additional 20,379 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Curtiss-Wright during the 2nd quarter worth approximately $235,000. Northwestern Mutual Wealth Management Co. increased its stake in Curtiss-Wright by 53.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company's stock valued at $49,000 after acquiring an additional 35 shares during the last quarter. Marshall Wace LLP bought a new position in Curtiss-Wright in the second quarter valued at approximately $5,423,000. Finally, Cresset Asset Management LLC raised its position in Curtiss-Wright by 46.4% during the second quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company's stock valued at $705,000 after purchasing an additional 457 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $860.00 target price on shares of Curtiss-Wright in a report on Wednesday, July 15th. Citigroup boosted their price target on Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a report on Wednesday, July 1st. Stifel Nicolaus lifted their target price on Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research report on Monday, July 20th. Wall Street Zen downgraded Curtiss-Wright from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Curtiss-Wright currently has an average rating of "Moderate Buy" and an average target price of $782.50.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of the transaction, the vice president directly owned 2,172 shares in the company, valued at approximately $1,568,075.40. This represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the firm's stock in a transaction 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 transaction, the chief executive officer directly owned 48,134 shares of the company's stock, valued at $34,739,270.48. The trade was 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. Corporate insiders own 0.51% of the company's stock.

Curtiss-Wright Stock Up 1.4%

Shares of CW opened at $618.45 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. Curtiss-Wright Corporation has a 52 week low of $465.51 and a 52 week high of $808.16. The stock has a market capitalization of $22.84 billion, a price-to-earnings ratio of 42.56, a PEG ratio of 2.75 and a beta of 0.87. The stock has a fifty day moving average of $725.45 and a 200-day moving average of $715.74.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, topping analysts' consensus estimates of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The business had revenue of $924.01 million for the quarter, compared to analyst estimates of $926.17 million. During the same quarter in the previous year, the company posted $3.23 EPS. Curtiss-Wright's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Curtiss-Wright Corporation will post 15.28 earnings per share for the current fiscal year.

Curtiss-Wright Profile

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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