Canada Pension Plan Investment Board Takes Position in Curtiss-Wright Corporation $CW

Key Points

• Canada Pension Plan Investment Board acquired 39,763 Curtiss-Wright shares worth approximately $30.1 million, giving it a 0.11% stake. Institutional investors collectively own 82.71% of the company.
• Curtiss-Wright exceeded quarterly earnings expectations, reporting $3.72 in EPS versus the $3.62 consensus, while revenue rose 5.4% year over year to $924.01 million.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $782.50, although some firms have retained “hold” ratings. Company insiders sold 3,934 shares worth approximately $2.7 million during the last quarter.

Canada Pension Plan Investment Board purchased a new position in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,763 shares of the aerospace company's stock, valued at approximately $30,131,000. Canada Pension Plan Investment Board owned approximately 0.11% of Curtiss-Wright at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CW. Quantbot Technologies LP bought a new stake in shares of Curtiss-Wright in the 2nd quarter worth $30,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Curtiss-Wright during the fourth quarter valued at about $31,000. Fiduciary Financial Advisors bought a new position in shares of Curtiss-Wright during the second quarter valued at about $31,000. Larson Financial Group LLC boosted its holdings in 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 last quarter. Finally, Transamerica Financial Advisors LLC boosted its holdings in Curtiss-Wright by 25.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after purchasing an additional 15 shares during the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Stock Performance

NYSE CW opened at $597.28 on Friday. Curtiss-Wright Corporation has a 52-week low of $465.51 and a 52-week high of $808.16. The company has a 50-day simple moving average of $718.27 and a 200 day simple moving average of $714.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. The company has a market capitalization of $22.06 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, beating analysts' consensus estimates of $3.62 by $0.10. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The firm had revenue of $924.01 million for the quarter, compared to analysts' expectations of $926.17 million. During the same period in the previous year, the company earned $3.23 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Curtiss-Wright Corporation will post 15.28 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Curtiss-Wright from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, August 21st. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a report on Friday, May 8th. Citigroup increased their price target on Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a research report on Wednesday, July 1st. Finally, Stifel Nicolaus lifted their price target on Curtiss-Wright from $724.00 to $768.00 and gave the stock a "hold" rating in a report on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Curtiss-Wright currently has a consensus rating of "Moderate Buy" and an average target price of $782.50.

Insider Buying and Selling

In other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the transaction, the vice president directly owned 2,172 shares of the company's stock, valued at approximately $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was 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 directly owned 48,134 shares of the company's stock, valued at $34,739,270.48. This represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,934 shares of company stock valued at $2,733,499. 0.51% of the stock is 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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