Curi RMB Capital LLC Sells 976 Shares of Curtiss-Wright Corporation $CW

Key Points

• Curi RMB Capital LLC reduced its stake in Curtiss-Wright Corporation by 1.1%, now owning 88,290 shares valued at approximately $28 million.
• Recent earnings showed a quarterly revenue increase of 11.7% year-over-year, with earnings per share exceeding analyst expectations at $3.23.
• Several analysts have recently updated their price targets for Curtiss-Wright, with Morgan Stanley raising it to $550, reflecting a positive view on the stock.

Curi RMB Capital LLC lowered its stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 88,290 shares of the aerospace company's stock after selling 976 shares during the quarter. Curi RMB Capital LLC owned about 0.23% of Curtiss-Wright worth $28,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in shares of Curtiss-Wright by 23.3% in 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 in the last quarter. Allspring Global Investments Holdings LLC increased its position in Curtiss-Wright by 1.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 343,513 shares of the aerospace company's stock worth $110,769,000 after buying an additional 5,007 shares during the last quarter. Driehaus Capital Management LLC grew its position in shares of Curtiss-Wright by 3.0% in the fourth quarter. Driehaus Capital Management LLC now owns 291,582 shares of the aerospace company's stock valued at $103,474,000 after purchasing an additional 8,447 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Curtiss-Wright by 25.6% in the first quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company's stock valued at $81,761,000 after purchasing an additional 54,289 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Curtiss-Wright by 44,878.7% during the 1st quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock worth $82,340,000 after acquiring an additional 258,950 shares during the period. 82.71% of the stock is currently owned by institutional investors.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the company'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 value of $533,355.00. Following the completion of the sale, the vice president owned 3,863 shares of the company's stock, valued at $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CW. Wall Street Zen cut Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Stifel Nicolaus raised their target price on Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Morgan Stanley increased their price target on Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Citigroup increased their price target on Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Robert W. Baird increased their price target on Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Curtiss-Wright has a consensus rating of "Moderate Buy" and a consensus price target of $468.14.

Curtiss-Wright Stock Performance

Shares of NYSE:CW traded up $1.86 during mid-day trading on Monday, reaching $483.55. The company had a trading volume of 174,297 shares, compared to its average volume of 310,084. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.95 and a beta of 1.15. The company's 50-day moving average price is $486.05 and its 200-day moving average price is $410.95. Curtiss-Wright Corporation has a one year low of $266.88 and a one year high of $517.09.

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

Curtiss-Wright Company 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.