Curtiss-Wright Corporation $CW Shares Sold by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. reduced its stake in Curtiss-Wright Corporation by 2.3%, now owning 196,451 shares valued at approximately $62.3 million as of the latest SEC filing.
• Several other hedge funds adjusted their positions, with AQR Capital Management LLC increasing its stake by 25.6%, while Amundi significantly raised its stake by 104.3%.
• Curtiss-Wright's stock has seen a recent price target increase from various analysts, with Citigroup raising its target from $525 to $568 and maintaining a "buy" rating on the stock.

Clark Capital Management Group Inc. cut its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,451 shares of the aerospace company's stock after selling 4,624 shares during the period. Clark Capital Management Group Inc. owned about 0.52% of Curtiss-Wright worth $62,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CW. Mercer Global Advisors Inc. ADV raised its stake in Curtiss-Wright by 10.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,094 shares of the aerospace company's stock valued at $388,000 after buying an additional 100 shares in the last quarter. Ancora Advisors LLC acquired a new stake in Curtiss-Wright in the fourth quarter valued at $49,000. Benjamin Edwards Inc. raised its stake in Curtiss-Wright by 7.3% in the fourth quarter. Benjamin Edwards Inc. now owns 2,352 shares of the aerospace company's stock valued at $835,000 after buying an additional 160 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Curtiss-Wright during the fourth quarter worth about $13,810,000. Finally, Baird Financial Group Inc. increased its position in shares of Curtiss-Wright by 1.6% during the fourth quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company's stock worth $753,000 after purchasing an additional 34 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CW has been the topic of a number of research analyst reports. Morgan Stanley lifted their target price on Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Stifel Nicolaus boosted their price target on Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Truist Financial dropped their price target on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. Citigroup boosted their price target on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Robert W. Baird boosted their price target on Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $468.14.

Curtiss-Wright Stock Performance

CW traded down $3.81 during trading on Tuesday, reaching $480.42. The company's stock had a trading volume of 62,287 shares, compared to its average volume of 308,603. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $517.09. The company's fifty day moving average price is $485.94 and its 200-day moving average price is $412.12. The company has a market capitalization of $18.10 billion, a price-to-earnings ratio of 40.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $3.13 by $0.10. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The company had revenue of $876.58 million for the quarter, compared to analyst estimates of $855.10 million. During the same quarter in the previous year, the company earned $2.67 EPS. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Insider Activity at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $480.50, for a total transaction of $533,355.00. Following the sale, the vice president owned 3,863 shares of the company's stock, valued at $1,856,171.50. The trade was a 22.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.

Curtiss-Wright Profile

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.