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

Key Points

• HSBC Holdings increased its Curtiss-Wright stake by 122.8% in the second quarter, owning 21,651 shares valued at approximately $16.3 million. Institutional investors and hedge funds collectively own 82.71% of the company.
• Curtiss-Wright reported quarterly EPS of $3.72, beating estimates of $3.62, while revenue rose 5.4% year over year to $924.01 million. The stock opened at $572.09, well below its 52-week high of $808.16.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $765.71; two company insiders also recently sold shares.

Hsbc Holdings PLC grew its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 122.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,651 shares of the aerospace company's stock after buying an additional 11,933 shares during the period. Hsbc Holdings PLC owned 0.06% of Curtiss-Wright worth $16,318,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CW. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Curtiss-Wright during the second quarter valued at $30,000. Quantbot Technologies LP purchased a new position in Curtiss-Wright in the 2nd quarter valued at about $30,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Curtiss-Wright during the 4th quarter worth about $31,000. Fiduciary Financial Advisors acquired a new stake in shares of Curtiss-Wright during the 2nd quarter worth about $31,000. Finally, Larson Financial Group LLC grew its holdings in shares of Curtiss-Wright by 53.8% during the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock worth $33,000 after buying an additional 21 shares in the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Stock Performance

NYSE:CW opened at $572.09 on Wednesday. The company has a market cap of $21.13 billion, a P/E ratio of 39.37, a P/E/G ratio of 2.56 and a beta of 0.84. The firm's 50 day moving average is $691.72 and its two-hundred day moving average is $710.04. Curtiss-Wright Corporation has a fifty-two week low of $474.92 and a fifty-two week high of $808.16. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The company 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 company earned $3.23 EPS. The business's quarterly revenue was up 5.4% compared to the same quarter last year. Analysts expect that Curtiss-Wright Corporation will post 15.27 EPS for the current year.

Insider Buying and Selling

In other Curtiss-Wright news, Director Larry D. Wyche sold 100 shares of Curtiss-Wright stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $596.74, for a total transaction of $59,674.00. Following the transaction, the director directly owned 1,414 shares of the company's stock, valued at $843,790.36. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John Watts sold 1,035 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the completion of the sale, the executive vice president directly owned 2,736 shares of the company's stock, valued at $1,694,842.56. The trade was a 27.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CW shares. Wall Street Zen downgraded shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Weiss Ratings cut shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday. Morgan Stanley reissued an "overweight" rating and set a $860.00 price target on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Piper Sandler started coverage on Curtiss-Wright in a report on Wednesday, September 2nd. They set a "neutral" rating and a $665.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price objective on Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research report on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $765.71.

Curtiss-Wright Company 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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