Hsbc Holdings PLC Purchases 11,660 Shares of Curtiss-Wright Corporation $CW

Key Points

• HSBC Holdings PLC increased its Curtiss-Wright stake by 53.6% in the fourth quarter, buying 11,660 shares and bringing its total holding to 33,414 shares worth about $18.6 million.
• Curtiss-Wright reported strong quarterly results, with earnings per share of $3.48 topping estimates and revenue of $913.69 million beating expectations, while revenue rose 13.4% year over year.
• The company also announced a quarterly dividend of $0.24 per share, and analysts currently have a consensus rating of Moderate Buy with an average price target of $746.67.

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

A number of other institutional investors also recently modified their holdings of the business. Goldman Sachs Group Inc. increased its position in Curtiss-Wright by 10.6% during the first quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company's stock worth $67,611,000 after acquiring an additional 20,379 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Curtiss-Wright during the second quarter worth approximately $235,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Curtiss-Wright by 53.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company's stock valued at $49,000 after buying an additional 35 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Curtiss-Wright in the second quarter valued at approximately $5,423,000. Finally, Cresset Asset Management LLC grew its position in Curtiss-Wright by 46.4% during the second quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company's stock worth $705,000 after buying an additional 457 shares in the last quarter. Institutional investors own 82.71% of the company's stock.

Insider Activity

In other news, EVP John C. Watts sold 220 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the completion of the sale, the executive vice president directly owned 3,962 shares in the company, valued at $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 business'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 completion of the transaction, the vice president owned 2,172 shares in the company, valued at approximately $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. In the last three months, 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 Down 0.4%

Shares of NYSE:CW opened at $761.98 on Thursday. The business has a fifty day simple moving average of $736.44 and a 200 day simple moving average of $677.60. Curtiss-Wright Corporation has a 12-month low of $463.00 and a 12-month high of $800.00. The firm has a market cap of $28.15 billion, a P/E ratio of 55.82, a P/E/G ratio of 3.55 and a beta of 0.85. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.16. The company had revenue of $913.69 million during the quarter, compared to analysts' expectations of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Analysts predict that Curtiss-Wright Corporation will post 15.15 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be given a $0.24 dividend. The ex-dividend date is 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 7.62%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stifel Nicolaus set a $724.00 price objective on Curtiss-Wright in a report on Friday, May 8th. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research report on Friday, May 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Finally, Citigroup upped their price target on shares of Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Curtiss-Wright has an average rating of "Moderate Buy" and an average target price of $746.67.

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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