Martingale Asset Management L P Sells 2,460 Shares of Curtiss-Wright Corporation $CW

Key Points

• Martingale Asset Management L P has reduced its stake in Curtiss-Wright Corporation by 3.9%, now holding 60,291 shares valued at approximately $19.13 million.
• In the 1st quarter, several large investors modified their positions in Curtiss-Wright, with Hsbc Holdings PLC notably increasing its stake by 249.6%.
• Curtiss-Wright's Q2 earnings report showed an EPS of $3.23, surpassing estimates, with a year-over-year revenue increase of 11.7%.

Martingale Asset Management L P cut its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 60,291 shares of the aerospace company's stock after selling 2,460 shares during the quarter. Martingale Asset Management L P owned 0.16% of Curtiss-Wright worth $19,129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CW. GAMMA Investing LLC grew its holdings in shares of Curtiss-Wright by 44,878.7% in the first quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock valued at $82,340,000 after purchasing an additional 258,950 shares in the last quarter. Nuveen LLC purchased a new position in shares of Curtiss-Wright in the first quarter valued at $70,357,000. Wedge Capital Management L L P NC purchased a new position in Curtiss-Wright during the first quarter worth $55,639,000. Bank of New York Mellon Corp boosted its stake in Curtiss-Wright by 23.3% during the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock worth $175,417,000 after buying an additional 104,393 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Curtiss-Wright during the fourth quarter worth $34,368,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Trading Down 0.9%

Shares of CW traded down $4.4990 during trading hours on Friday, reaching $479.8510. 226,319 shares of the company traded hands, compared to its average volume of 356,943. The firm has a market cap of $18.08 billion, a price-to-earnings ratio of 40.49, a PEG ratio of 2.95 and a beta of 1.18. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $517.09. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.35. The stock's fifty day moving average price is $484.26 and its 200 day moving average price is $400.48.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $0.10. The firm had revenue of $876.58 million during the quarter, compared to analyst estimates of $855.10 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The business's revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.67 earnings per share. Sell-side analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CW has been the subject of several recent analyst reports. Robert W. Baird lifted their price objective on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Morgan Stanley lifted their price objective on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Citigroup lifted their price objective on shares of Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Truist Financial dropped their price objective on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Finally, Wall Street Zen lowered shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Curtiss-Wright presently has a consensus rating of "Moderate Buy" and a consensus price target of $468.14.

Insider Activity

In related news, VP John C. Watts sold 1,110 shares of Curtiss-Wright stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $480.50, for a total value of $533,355.00. Following the completion of the sale, the vice president directly owned 3,863 shares in the company, valued at $1,856,171.50. The trade was a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce D. Hoechner sold 1,900 shares of Curtiss-Wright stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the sale, the director owned 4,523 shares of the company's stock, valued at $2,026,304. The trade was a 29.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,460 shares of company stock valued at $1,586,767 over the last 90 days. 0.55% of the stock is currently owned by corporate insiders.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.