BlackRock Inc. Makes New $3.45 Billion Investment in Curtiss-Wright Corporation $CW

Key Points

• BlackRock acquired 4.55 million Curtiss-Wright shares worth approximately $3.45 billion, giving it a 12.32% stake. Institutional investors collectively own 82.71% of the company.
• Analysts maintain a cautiously positive outlook, with a consensus “Moderate Buy” rating and an average price target of $782.50, despite some recent downgrades to “Hold.”
• Curtiss-Wright exceeded quarterly EPS expectations, reporting $3.72 versus the $3.62 consensus, while revenue rose 5.4% year over year to $924.01 million. The stock opened at $693.97, below its 52-week high of $808.16.

BlackRock Inc. acquired a new stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,551,110 shares of the aerospace company's stock, valued at approximately $3,448,649,000. BlackRock Inc. owned about 12.32% of Curtiss-Wright as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CW. Weiss Ratings lowered shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on Curtiss-Wright in a research report on Wednesday, August 12th. Stifel Nicolaus upped their price target on shares of 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. Finally, Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $782.50.

Insider Activity

In other news, EVP John C. Watts sold 220 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the business's stock in a transaction 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 owned 2,172 shares of the company's stock, valued at $1,568,075.40. This trade represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,119 shares of company stock valued at $2,257,998 over the last 90 days. Insiders own 0.51% of the company's stock.

Curtiss-Wright Price Performance

Shares of NYSE CW opened at $693.97 on Wednesday. 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's 50-day moving average price is $740.29 and its 200 day moving average price is $716.46. Curtiss-Wright Corporation has a 52 week low of $465.51 and a 52 week high of $808.16. The stock has a market cap of $25.63 billion, a price-to-earnings ratio of 47.76, a PEG ratio of 3.15 and a beta of 0.87.

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 (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.10. The firm had revenue of $924.01 million during the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.23 EPS. As a group, research analysts forecast 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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