Coastal Bridge Advisors LLC Takes Position in Curtiss-Wright Corporation $CW

Key Points

• Coastal Bridge Advisors acquired 2,261 Curtiss-Wright shares worth approximately $1.71 million in the second quarter. Institutional investors collectively own 82.71% of the company.
• Curtiss-Wright beat quarterly earnings expectations, reporting EPS of $3.72 versus the $3.62 consensus estimate, while revenue rose 5.4% year over year to $924.01 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $782.50, although company insiders sold 3,934 shares worth $2.73 million over the past three months.

Coastal Bridge Advisors LLC acquired a new stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,261 shares of the aerospace company's stock, valued at approximately $1,713,000.

Several other institutional investors have also modified their holdings of CW. Quantbot Technologies LP purchased a new position in Curtiss-Wright during the second quarter worth about $30,000. Fiduciary Financial Advisors purchased a new stake in shares of Curtiss-Wright in the 2nd quarter valued at $31,000. Elevation Wealth Partners LLC lifted its position in shares of Curtiss-Wright by 237.5% during the second quarter. Elevation Wealth Partners LLC now owns 54 shares of the aerospace company's stock worth $41,000 after purchasing an additional 38 shares in the last quarter. Cary Street Partners Investment Advisory LLC acquired a new stake in Curtiss-Wright during the 4th quarter worth approximately $31,000. Finally, Signature Equity Partners LLC raised its stake in shares of Curtiss-Wright by 140.0% in the first quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company's stock valued at $41,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company's stock.

Curtiss-Wright Stock Performance

CW opened at $605.70 on Friday. Curtiss-Wright Corporation has a 1-year low of $465.51 and a 1-year high of $808.16. The stock has a market cap of $22.37 billion, a P/E ratio of 41.69, a P/E/G ratio of 2.79 and a beta of 0.87. The stock's 50 day simple moving average is $721.95 and its 200 day simple moving average is $715.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12.

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. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The firm had revenue of $924.01 million during the quarter, compared to analysts' expectations of $926.17 million. During the same period in the previous year, the firm posted $3.23 earnings per share. Curtiss-Wright's revenue was up 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Curtiss-Wright Corporation will post 15.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John C. Watts sold 1,035 shares of the business's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $619.46, for a total value of $641,141.10. Following the sale, the executive vice president directly owned 2,736 shares in the company, valued at $1,694,842.56. The trade was a 27.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lynn M. Bamford sold 2,500 shares of the firm's stock in a transaction dated 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 owned 48,134 shares of the company's stock, valued at $34,739,270.48. This trade represents a 4.94% decrease in their ownership of the stock. 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. Insiders have sold 3,934 shares of company stock worth $2,733,499 in the last three months. Corporate insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CW shares. Morgan Stanley reaffirmed an "overweight" rating and set a $860.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Citigroup increased their target price on Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 1st. Wall Street Zen lowered shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a research note on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Curtiss-Wright from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, August 21st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Curtiss-Wright presently has a consensus rating of "Moderate Buy" and an average price target of $782.50.

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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