Corebridge Financial Inc. Sells 1,341 Shares of Curtiss-Wright Corporation $CW

Key Points

• Corebridge Financial Inc. reduced its holdings in Curtiss-Wright Corporation by 3.1%, now owning about 41,600 shares valued at $13.2 million.
• Analysts have generally positive outlooks for Curtiss-Wright, with firms like Morgan Stanley increasing their price target from $405 to $550, reflecting a consensus rating of "Moderate Buy."
• Curtiss-Wright reported earnings of $3.23 per share for the last quarter, exceeding analyst estimates, and revenue rose by 11.7% year-over-year.

Corebridge Financial Inc. lowered its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,600 shares of the aerospace company's stock after selling 1,341 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Curtiss-Wright worth $13,198,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CW. Bank of New York Mellon Corp grew its position in Curtiss-Wright by 23.3% in the 1st quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock worth $175,417,000 after purchasing an additional 104,393 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Curtiss-Wright by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 343,513 shares of the aerospace company's stock valued at $110,769,000 after acquiring an additional 5,007 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Curtiss-Wright by 21.4% in the fourth quarter. Northern Trust Corp now owns 329,918 shares of the aerospace company's stock valued at $117,078,000 after acquiring an additional 58,207 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings 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 acquiring an additional 8,447 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Curtiss-Wright by 44,878.7% in the first 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. 82.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CW shares. Truist Financial decreased their price objective on shares of 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 target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Stifel Nicolaus raised their target price on shares of Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Citigroup raised their target price on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Wall Street Zen cut shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Curtiss-Wright currently has an average rating of "Moderate Buy" and a consensus target price of $468.14.

Curtiss-Wright Price Performance

Shares of NYSE:CW traded down $8.30 during midday trading on Friday, reaching $477.59. 166,637 shares of the company's stock were exchanged, compared to its average volume of 337,324. The company's 50 day simple moving average is $486.07 and its two-hundred day simple moving average is $404.71. The firm has a market capitalization of $18.00 billion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 2.98 and a beta of 1.18. Curtiss-Wright Corporation has a 12 month low of $266.88 and a 12 month high of $517.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95.

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

Insider Buying and Selling

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

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.