Curtiss-Wright Corporation $CW Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Curtiss-Wright by 53.6% in the fourth quarter, adding 11,660 shares and bringing its total to 33,414 shares valued at about $18.6 million.
• Curtiss-Wright reported strong quarterly results, with EPS of $3.48 topping estimates and revenue of $913.69 million, up 13.4% year over year.
• Despite the solid earnings and institutional buying, the stock was down 3.3% in recent trading, while analysts maintained a mixed but generally positive view with an average target price of $749.67.

Hsbc Holdings PLC raised its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 53.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,414 shares of the aerospace company's stock after purchasing an additional 11,660 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Curtiss-Wright worth $18,608,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Transamerica Financial Advisors LLC lifted its stake in Curtiss-Wright by 25.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after acquiring an additional 15 shares in the last quarter. IFP Advisors Inc grew its position in Curtiss-Wright by 2.3% in the 4th quarter. IFP Advisors Inc now owns 698 shares of the aerospace company's stock valued at $385,000 after acquiring an additional 16 shares in the last quarter. Summit Financial LLC increased its stake in Curtiss-Wright by 2.3% during the fourth quarter. Summit Financial LLC now owns 697 shares of the aerospace company's stock worth $384,000 after purchasing an additional 16 shares during the period. Mayflower Financial Advisors LLC increased its stake in Curtiss-Wright by 2.9% during the fourth quarter. Mayflower Financial Advisors LLC now owns 611 shares of the aerospace company's stock worth $337,000 after purchasing an additional 17 shares during the period. Finally, VestGen Investment Management lifted its position in shares of Curtiss-Wright by 0.9% during the fourth quarter. VestGen Investment Management now owns 1,870 shares of the aerospace company's stock worth $1,031,000 after purchasing an additional 17 shares in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CW has been the subject of a number of research reports. Weiss Ratings cut shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Citigroup increased their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a report on Wednesday, July 1st. Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Finally, Stifel Nicolaus set a $724.00 price target on shares of Curtiss-Wright in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $749.67.

Curtiss-Wright Trading Down 3.3%

Shares of NYSE:CW opened at $766.31 on Wednesday. Curtiss-Wright Corporation has a 52 week low of $463.00 and a 52 week high of $808.16. The company's 50 day moving average is $742.61 and its two-hundred day moving average is $691.11. The company has a market cap of $28.31 billion, a PE ratio of 56.14, a P/E/G ratio of 3.67 and a beta of 0.86. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.16. The business had revenue of $913.69 million during the quarter, compared to analysts' expectations of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 EPS. Equities analysts predict that Curtiss-Wright Corporation will post 15.17 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th. Curtiss-Wright's payout ratio is 7.62%.

Insider Transactions at Curtiss-Wright

In related news, CEO Lynn M. Bamford sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the sale, the chief executive officer owned 48,134 shares in the company, valued at $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of the transaction, the executive vice president directly owned 3,962 shares of the company's stock, valued at $2,983,029.42. This trade represents a 5.26% 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. In the last ninety days, insiders sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by corporate insiders.

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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