Man Group plc Makes New Investment in Curtiss-Wright Corporation $CW

Key Points

• Man Group acquired 15,336 Curtiss-Wright shares worth approximately $11.6 million in the second quarter. Institutional investors collectively own 82.71% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $782.50; individual targets range from $768 to $870.
• Curtiss-Wright exceeded quarterly earnings expectations, reporting $3.72 in EPS versus the $3.62 estimate, while revenue rose 5.4% year over year to $924 million. Company insiders sold 3,934 shares worth about $2.7 million during the last quarter.

Man Group plc acquired a new stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,336 shares of the aerospace company's stock, valued at approximately $11,621,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CW. Jupiter Topco LLC bought a new stake in Curtiss-Wright in the second quarter worth $2,883,000. Hsbc Holdings PLC bought a new stake in shares of Curtiss-Wright during the second quarter worth $16,318,000. Ancora Advisors LLC bought a new stake in shares of Curtiss-Wright during the second quarter valued at approximately $103,000. Primecap Management Co. CA purchased a new position in shares of Curtiss-Wright during the second quarter valued at $390,106,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Curtiss-Wright in the second quarter valued at about $30,131,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CW has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Curtiss-Wright from $724.00 to $768.00 and gave the stock a "hold" rating in a research note on Monday, July 20th. Morgan Stanley reaffirmed an "overweight" rating and set a $860.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Weiss Ratings upgraded Curtiss-Wright from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, August 21st. Citigroup lifted their target price 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. Finally, Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $782.50.

Curtiss-Wright Price Performance

CW stock opened at $597.28 on Friday. Curtiss-Wright Corporation has a 1 year low of $465.51 and a 1 year high of $808.16. 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 firm has a market capitalization of $22.06 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87. The business has a 50 day simple moving average of $718.27 and a 200-day simple moving average of $714.61.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, topping analysts' consensus estimates of $3.62 by $0.10. The firm had revenue of $924.01 million for 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 firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 earnings per share. Equities research analysts anticipate that Curtiss-Wright Corporation will post 15.28 earnings per share for the current fiscal year.

Insider Transactions at Curtiss-Wright

In related news, EVP John C. Watts sold 1,035 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $619.46, for a total value of $641,141.10. Following the completion of the sale, the executive vice president owned 2,736 shares of the company's stock, valued at approximately $1,694,842.56. This represents a 27.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Lynn M. Bamford sold 2,500 shares of the firm's stock in a transaction dated 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 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 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. Insiders have sold a total of 3,934 shares of company stock worth $2,733,499 in the last quarter. Company insiders own 0.51% of the company's stock.

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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