Curtiss-Wright Corporation $CW Stake Lifted by Harel Insurance Investments & Financial Services Ltd.

Key Points

• Harel Insurance Investments & Financial Services increased its Curtiss-Wright stake by 39% in the first quarter, ending with 6,899 shares valued at about $4.7 million.
• Insider selling was reported in June, including CEO Lynn M. Bamford selling 2,500 shares and VP Gary A. Ogilby selling 399 shares under pre-arranged 10b5-1 plans.
• Curtiss-Wright posted better-than-expected Q1 results, with EPS of $3.48 versus estimates of $3.32 and revenue of $913.69 million, while analysts currently view the stock as a Moderate Buy with an average target price of $766.33.

Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 39.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,899 shares of the aerospace company's stock after acquiring an additional 1,935 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Curtiss-Wright were worth $4,699,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Curtiss-Wright in the 4th quarter worth $31,000. Larson Financial Group LLC grew its holdings in 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 acquiring an additional 21 shares during the period. Transamerica Financial Advisors LLC grew its holdings in Curtiss-Wright by 25.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after acquiring an additional 15 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Curtiss-Wright in the fourth quarter worth about $42,000. Finally, Elyxium Wealth LLC bought a new stake in Curtiss-Wright in the fourth quarter worth about $43,000. Institutional investors own 82.71% of the company's stock.

Insider Activity

In related news, CEO Lynn M. Bamford sold 2,500 shares of the company's stock in a transaction 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 transaction, the chief executive officer directly owned 48,134 shares of the company's stock, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of the sale, the vice president directly owned 2,172 shares of the company's stock, valued at approximately $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 3,119 shares of company stock worth $2,257,998. 0.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CW. Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Citigroup raised 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. Weiss Ratings cut Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Finally, Morgan Stanley reiterated an "overweight" rating and set a $860.00 price objective on shares of Curtiss-Wright in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $766.33.

Curtiss-Wright Stock Performance

Curtiss-Wright stock opened at $751.58 on Thursday. The firm's 50 day simple moving average is $746.77 and its 200-day simple moving average is $699.21. The company has a market cap of $27.76 billion, a P/E ratio of 55.06, a price-to-earnings-growth ratio of 3.46 and a beta of 0.86. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. Curtiss-Wright Corporation has a fifty-two week low of $463.00 and a fifty-two week high of $808.16.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating the consensus estimate of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business had revenue of $913.69 million during the quarter, compared to the consensus estimate of $863.83 million. During the same quarter in the prior year, the firm earned $2.82 EPS. The firm's quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts predict that Curtiss-Wright Corporation will post 15.18 EPS for the current year.

Curtiss-Wright Announces Dividend

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

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.

Want to see what other hedge funds are holding CW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Curtiss-Wright Corporation (NYSE:CW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.