Ieq Capital LLC Buys New Shares in Curtiss-Wright Corporation $CW

Key Points

• Ieq Capital LLC purchased 24,545 Curtiss-Wright shares worth approximately $18.6 million, giving it about a 0.07% stake. Institutional investors collectively own 82.71% of the company.
• Curtiss-Wright insiders sold 3,119 shares valued at roughly $2.26 million over the past three months, including sales by the CEO and a vice president under pre-arranged trading plans.
• The company beat quarterly earnings expectations with EPS of $3.72 versus $3.62 projected, while revenue rose 5.4% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $782.50.

Ieq Capital LLC purchased a new stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,545 shares of the aerospace company's stock, valued at approximately $18,599,000. Ieq Capital LLC owned approximately 0.07% of Curtiss-Wright as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Curtiss-Wright in the 4th quarter worth about $31,000. Larson Financial Group LLC raised its holdings in shares of Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock valued at $33,000 after buying an additional 21 shares in the last quarter. Transamerica Financial Advisors LLC lifted its position in Curtiss-Wright by 25.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after buying an additional 15 shares during the last quarter. Signature Equity Partners LLC lifted its position in Curtiss-Wright by 140.0% in the 1st quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company's stock worth $41,000 after buying an additional 35 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in Curtiss-Wright by 237.5% in the second quarter. Elevation Wealth Partners LLC now owns 54 shares of the aerospace company's stock worth $41,000 after buying an additional 38 shares in the last quarter. Institutional investors own 82.71% of the company's stock.

Insider Buying and Selling

In related news, 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 completion of the sale, the vice president directly owned 2,172 shares in the company, valued at $1,568,075.40. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the firm'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 completion of the sale, the chief executive officer directly owned 48,134 shares in the company, valued at approximately $34,739,270.48. This trade represents a 4.94% 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. Insiders have sold a total of 3,119 shares of company stock valued at $2,257,998 over the last three months. 0.51% of the stock is owned by company insiders.

Curtiss-Wright Price Performance

CW opened at $634.55 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12. The stock's 50 day simple moving average is $734.68 and its 200 day simple moving average is $715.90. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 2.86 and a beta of 0.87. Curtiss-Wright Corporation has a 1 year low of $465.51 and a 1 year high of $808.16.

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 for the quarter, beating the consensus estimate of $3.62 by $0.10. The firm had revenue of $924.01 million during the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The business's revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.23 earnings per share. As a group, analysts predict that Curtiss-Wright Corporation will post 15.28 earnings per share for the current year.

Wall Street Analyst Weigh In

CW has been the topic of a number of recent research reports. Citigroup increased their price target on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a research report on Wednesday, July 1st. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. Weiss Ratings lowered shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, August 7th. Morgan Stanley reiterated an "overweight" rating and issued a $860.00 target price on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Finally, Wall Street Zen downgraded shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $782.50.

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.

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