California State Teachers Retirement System Grows Stock Position in Curtiss-Wright Corporation $CW

Key Points

• California State Teachers Retirement System reportedly increased its Curtiss-Wright stake by 96,633.6% in the second quarter, acquiring 40.8 million additional shares. Institutional investors collectively own 82.71% of the company, according to the article.
• Analyst sentiment remains cautious: Curtiss-Wright has a consensus “Hold” rating and an average price target of $765.71, despite Morgan Stanley maintaining an “Overweight” rating with an $860 target.
• Curtiss-Wright’s shares opened at $566.24, well below their 52-week high of $808.16. The company recently exceeded quarterly earnings expectations, reporting $3.72 in adjusted EPS versus a $3.62 consensus estimate, while revenue rose 5.4% year over year.

California State Teachers Retirement System boosted its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 96,633.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,844,780 shares of the aerospace company's stock after purchasing an additional 40,802,556 shares during the quarter. California State Teachers Retirement System owned approximately 110.60% of Curtiss-Wright worth $30,950,540,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CW. Wedmont Private Capital grew its position in shares of Curtiss-Wright by 27.6% during the second quarter. Wedmont Private Capital now owns 702 shares of the aerospace company's stock worth $530,000 after buying an additional 152 shares in the last quarter. HB Wealth Management LLC lifted its stake in Curtiss-Wright by 4.4% in the second quarter. HB Wealth Management LLC now owns 1,221 shares of the aerospace company's stock worth $925,000 after acquiring an additional 52 shares during the last quarter. Compass Financial Management LLC purchased a new position in Curtiss-Wright in the second quarter worth approximately $1,356,000. AlphaGrep UK Ltd acquired a new position in Curtiss-Wright during the 2nd quarter worth approximately $499,000. Finally, Sapient Capital LLC acquired a new position in Curtiss-Wright during the 2nd quarter worth approximately $222,000. Institutional investors and hedge funds own 82.71% of the company's stock.

Insiders Place Their Bets

In other 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 value of $59,674.00. Following the completion of the sale, the director directly owned 1,414 shares of the company's stock, valued at approximately $843,790.36. This represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John C. 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 of the company's stock, valued at $1,694,842.56. This trade represents a 27.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CW has been the topic of a number of analyst reports. Citigroup raised their price objective 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 increased their target price on Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a report on Monday, July 20th. Wall Street Zen cut Curtiss-Wright from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings cut Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $860.00 price target on shares of Curtiss-Wright in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $765.71.

Curtiss-Wright Trading Down 0.1%

CW opened at $566.24 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. Curtiss-Wright Corporation has a 52 week low of $465.51 and a 52 week high of $808.16. The business's 50 day moving average is $695.42 and its two-hundred day moving average is $710.88. The firm has a market cap of $20.91 billion, a price-to-earnings ratio of 38.97, a price-to-earnings-growth ratio of 2.56 and a beta of 0.84.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.10. The business 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 revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.23 earnings per share. On average, research analysts predict that Curtiss-Wright Corporation will post 15.27 EPS for the current year.

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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