Deutsche Bank AG Buys New Stake in Curtiss-Wright Corporation $CW

Key Points

• Deutsche Bank acquired 133,962 Curtiss-Wright shares worth approximately $101.5 million in the second quarter, giving it a 0.36% stake. Institutional investors 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, slightly below expectations.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $782.50; shares recently opened at $649.78.

Deutsche Bank AG purchased a new position in Curtiss-Wright Corporation (NYSE:CW - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 133,962 shares of the aerospace company's stock, valued at approximately $101,511,000. Deutsche Bank AG owned approximately 0.36% of Curtiss-Wright as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Curtiss-Wright in the 4th quarter valued at $290,633,000. Corient Private Wealth LLC lifted its holdings in Curtiss-Wright by 6,169.8% during the 4th quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company's stock valued at $224,108,000 after purchasing an additional 400,047 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Curtiss-Wright in the second quarter valued at about $270,458,000. Franklin Resources Inc. boosted its position in Curtiss-Wright by 61.0% in the fourth quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company's stock valued at $270,392,000 after buying an additional 185,887 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in Curtiss-Wright during the second quarter worth about $124,673,000. Institutional investors own 82.71% of the company's stock.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,500 shares of Curtiss-Wright stock in a transaction on Tuesday, June 9th. The shares were 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 of the company's stock, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their position. The transaction was disclosed in a legal 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 company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the sale, the vice president owned 2,172 shares of the company's stock, valued at $1,568,075.40. The trade was a 15.52% decrease in their position. 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 ninety days, insiders have sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by insiders.

Curtiss-Wright Stock Performance

Shares of NYSE:CW opened at $649.78 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. Curtiss-Wright Corporation has a 1-year low of $465.51 and a 1-year high of $808.16. The stock has a market capitalization of $24.00 billion, a P/E ratio of 44.72, a P/E/G ratio of 3.04 and a beta of 0.87. The business has a 50-day moving average price of $737.15 and a two-hundred day moving average price of $716.48.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results 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. The company had revenue of $924.01 million for the quarter, compared to analyst estimates of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 EPS. Equities analysts predict that Curtiss-Wright Corporation will post 15.28 earnings per share for the current year.

Analysts Set New Price Targets

CW has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a research note on Monday, July 20th. Citigroup increased their price target on Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Morgan Stanley reaffirmed an "overweight" rating and set a $860.00 price target on shares of Curtiss-Wright in a report on Wednesday, July 15th. Wall Street Zen downgraded Curtiss-Wright from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Weiss Ratings lowered Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $782.50.

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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