Comerica Bank Acquires 8,086 Shares of Curtiss-Wright Corporation $CW

Key Points

• Comerica Bank increased its ownership in Curtiss-Wright Corporation by 52.3%, now holding 23,552 shares valued at approximately $7.47 million.
• Several institutional investors also raised their stakes in Curtiss-Wright, with a total of 82.71% of the company's stock owned by institutional investors and hedge funds.
• Analysts have a consensus rating of "Moderate Buy" for Curtiss-Wright, with target price adjustments ranging from $338.00 to $568.00, indicating positive sentiment towards the stock.

Comerica Bank raised its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 52.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 23,552 shares of the aerospace company's stock after purchasing an additional 8,086 shares during the quarter. Comerica Bank owned 0.06% of Curtiss-Wright worth $7,472,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CW. GAMMA Investing LLC raised its holdings in Curtiss-Wright by 44,878.7% in the 1st quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock valued at $82,340,000 after acquiring an additional 258,950 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Curtiss-Wright during the 1st quarter worth approximately $70,357,000. Wedge Capital Management L L P NC bought a new stake in shares of Curtiss-Wright during the first quarter valued at approximately $55,639,000. Bank of New York Mellon Corp increased its position in shares of Curtiss-Wright by 23.3% during the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock valued at $175,417,000 after purchasing an additional 104,393 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Curtiss-Wright during the fourth quarter valued at approximately $34,368,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Curtiss-Wright news, Director Bruce D. Hoechner sold 1,900 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $448.00, for a total value of $851,200.00. Following the transaction, the director owned 4,523 shares of the company's stock, valued at approximately $2,026,304. The trade was a 29.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John C. Watts sold 1,110 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $480.50, for a total transaction of $533,355.00. Following the completion of the transaction, the vice president owned 3,863 shares of the company's stock, valued at $1,856,171.50. This trade represents a 22.32% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

CW has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Wall Street Zen cut Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Truist Financial dropped their price target on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a report on Friday, July 11th. Morgan Stanley raised their price target on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Robert W. Baird upped their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $468.14.

Curtiss-Wright Trading Down 1.7%

Curtiss-Wright stock traded down $8.30 during midday trading on Friday, hitting $477.59. 166,637 shares of the stock were exchanged, compared to its average volume of 337,324. The stock has a market capitalization of $18.00 billion, a PE ratio of 40.30, a P/E/G ratio of 2.93 and a beta of 1.18. The company has a fifty day simple moving average of $486.07 and a two-hundred day simple moving average of $404.71. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. Curtiss-Wright Corporation has a 52 week low of $266.88 and a 52 week high of $517.09.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The company had revenue of $876.58 million for the quarter, compared to analyst estimates of $855.10 million. During the same period last year, the business posted $2.67 earnings per share. The business's revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

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.