221,756 Shares in Curtiss-Wright Corporation $CW Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Curtiss-Wright Corporation, purchasing 221,756 shares valued at approximately $70.36 million, representing about 0.59% ownership of the company.
• Curtiss-Wright reported earnings per share of $3.23 for the last quarter, exceeding analyst estimates, along with a revenue of $876.58 million, which is an 11.7% increase compared to the previous year.
• Analysts have recently upgraded Curtiss-Wright’s price targets, with Morgan Stanley raising it to $550.00 and Citigroup to $568.00, reflecting positive sentiment on the stock’s performance.

Nuveen LLC purchased a new position in Curtiss-Wright Corporation (NYSE:CW - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 221,756 shares of the aerospace company's stock, valued at approximately $70,357,000. Nuveen LLC owned about 0.59% of Curtiss-Wright as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Curtiss-Wright by 44,878.7% during the first quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company's stock worth $82,340,000 after purchasing an additional 258,950 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of Curtiss-Wright in the 1st quarter worth approximately $55,639,000. Bank of New York Mellon Corp increased its stake in shares of 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 valued at $175,417,000 after buying an additional 104,393 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Curtiss-Wright during the fourth quarter valued at approximately $34,368,000. Finally, Raymond James Financial Inc. purchased a new stake in Curtiss-Wright in the fourth quarter worth $31,497,000. Hedge funds and other institutional investors own 82.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CW. Citigroup upped their target price on Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Robert W. Baird raised their target price on Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Wall Street Zen downgraded Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Stifel Nicolaus raised their target price on shares of Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, Morgan Stanley upped their price target on shares of Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $468.14.

Curtiss-Wright Price Performance

Shares of NYSE:CW traded up $3.39 on Monday, reaching $490.76. The company's stock had a trading volume of 112,483 shares, compared to its average volume of 318,991. The company has a 50-day simple moving average of $482.66 and a 200 day simple moving average of $396.10. Curtiss-Wright Corporation has a 52-week low of $266.88 and a 52-week high of $517.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. The company has a market cap of $18.49 billion, a P/E ratio of 41.41, a PEG ratio of 2.99 and a beta of 1.18.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.10. The company had revenue of $876.58 million for the quarter, compared to analysts' expectations of $855.10 million. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%. The firm's revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.67 earnings per share. As a group, equities research analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total transaction of $851,200.00. Following the completion of the sale, the director directly owned 4,523 shares of the company's stock, valued at approximately $2,026,304. This trade represents a 29.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John C. Watts sold 450 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $449.36, for a total transaction of $202,212.00. Following the completion of the transaction, the vice president owned 4,959 shares in the company, valued at approximately $2,228,376.24. The trade was a 8.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company's stock.

Curtiss-Wright 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.