Northern Trust Corp Decreases Stake in Curtiss-Wright Corporation $CW

Key Points

• Northern Trust Corp reduced its holdings in Curtiss-Wright Corporation by 1.6%, now owning approximately 324,585 shares valued at $102.98 million.
• Curtiss-Wright's stock has received mixed analyst ratings, with a consensus rating of "Moderate Buy" and a target price averaging $468.14.
• The company reported better-than-expected earnings of $3.23 per share for the last quarter, exceeding analysts' estimates and showing an 11.7% year-over-year revenue increase.

Northern Trust Corp decreased its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 324,585 shares of the aerospace company's stock after selling 5,333 shares during the period. Northern Trust Corp owned about 0.86% of Curtiss-Wright worth $102,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Burgundy Asset Management Ltd. lifted its position in Curtiss-Wright by 5.1% during the first quarter. Burgundy Asset Management Ltd. now owns 1,783 shares of the aerospace company's stock valued at $566,000 after acquiring an additional 86 shares during the last quarter. Corient IA LLC purchased a new stake in Curtiss-Wright during the first quarter valued at approximately $635,000. Alliance Wealth Advisors LLC UT lifted its position in Curtiss-Wright by 1.0% during the first quarter. Alliance Wealth Advisors LLC UT now owns 4,505 shares of the aerospace company's stock valued at $1,429,000 after acquiring an additional 43 shares during the last quarter. Ethic Inc. lifted its position in Curtiss-Wright by 2.0% during the first quarter. Ethic Inc. now owns 8,150 shares of the aerospace company's stock valued at $2,628,000 after acquiring an additional 159 shares during the last quarter. Finally, Element Capital Management LLC purchased a new stake in Curtiss-Wright during the first quarter valued at approximately $2,623,000. Hedge funds and other institutional investors own 82.71% of the company's stock.

Insider Activity

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $480.50, for a total value of $533,355.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce D. Hoechner sold 1,900 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the transaction, 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. Over the last quarter, insiders sold 3,460 shares of company stock worth $1,586,767. 0.55% of the stock is currently owned by insiders.

Curtiss-Wright Stock Performance

Shares of NYSE:CW traded down $1.70 during midday trading on Wednesday, reaching $489.40. The company's stock had a trading volume of 216,477 shares, compared to its average volume of 314,867. The firm has a market capitalization of $18.44 billion, a PE ratio of 41.30, a P/E/G ratio of 2.93 and a beta of 1.18. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $517.09. The stock has a fifty day moving average of $484.84 and a 200 day moving average of $402.32. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly 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. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The company had revenue of $876.58 million during the quarter, compared to the consensus estimate of $855.10 million. During the same period in the previous year, the company posted $2.67 earnings per share. Curtiss-Wright's revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CW has been the subject of a number of analyst reports. Morgan Stanley increased their target price on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Stifel Nicolaus increased their target price on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Wall Street Zen cut shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Truist Financial decreased their price target on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a report on Friday, July 11th. Finally, Robert W. Baird raised their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $468.14.

About Curtiss-Wright

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.