Concurrent Investment Advisors LLC Increases Position in Curtiss-Wright Corporation $CW

Key Points

• Concurrent Investment Advisors increased its Curtiss-Wright stake by 220.1% in the second quarter, owning 3,073 shares worth approximately $2.33 million. Institutional investors and hedge funds collectively hold 82.71% of the company.
• Curtiss-Wright reported quarterly EPS of $3.72, exceeding estimates of $3.62, while revenue rose 5.4% year over year to $924.01 million, slightly below expectations.
• Analyst sentiment remains mixed, with an average rating of “Hold” and a consensus price target of $765.71. Meanwhile, two corporate insiders sold shares in late August.

Concurrent Investment Advisors LLC boosted its holdings in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 220.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,073 shares of the aerospace company's stock after purchasing an additional 2,113 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Curtiss-Wright were worth $2,329,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its position in shares of Curtiss-Wright by 10.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company's stock valued at $67,611,000 after buying an additional 20,379 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Curtiss-Wright in the 2nd quarter worth $235,000. Northwestern Mutual Wealth Management Co. increased its holdings in Curtiss-Wright by 53.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company's stock worth $49,000 after acquiring an additional 35 shares in the last quarter. Marshall Wace LLP acquired a new position in Curtiss-Wright during the second quarter worth $5,423,000. Finally, Cresset Asset Management LLC lifted its holdings in Curtiss-Wright by 46.4% during the second quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company's stock valued at $705,000 after purchasing an additional 457 shares in the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Curtiss-Wright 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 transaction 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. This represents a 27.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry D. Wyche sold 100 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $596.74, for a total transaction of $59,674.00. Following the sale, the director directly owned 1,414 shares in the company, valued at $843,790.36. This represents a 6.61% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CW. Morgan Stanley reissued an "overweight" rating and set a $860.00 target price on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Stifel Nicolaus raised their price target on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on Curtiss-Wright in a report on Wednesday, August 12th. Wall Street Zen lowered Curtiss-Wright from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Piper Sandler started coverage on Curtiss-Wright in a report on Wednesday, September 2nd. They set a "neutral" rating and a $665.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Curtiss-Wright presently has an average rating of "Hold" and a consensus price target of $765.71.

Curtiss-Wright Price Performance

NYSE:CW opened at $572.09 on Wednesday. Curtiss-Wright Corporation has a one year low of $474.92 and a one year high of $808.16. The stock has a market cap of $21.13 billion, a PE ratio of 39.37, a P/E/G ratio of 2.56 and a beta of 0.84. 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 stock has a 50 day moving average price of $691.72 and a 200 day moving average price of $710.04.

Curtiss-Wright (NYSE:CW - Get Free Report) last released 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. The firm had revenue of $924.01 million during the quarter, compared to analysts' expectations of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. Curtiss-Wright's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $3.23 earnings per share. Equities research analysts expect that Curtiss-Wright Corporation will post 15.27 EPS for the current fiscal year.

Curtiss-Wright Profile

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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