Price T Rowe Associates Inc. MD Sells 126,535 Shares of Curtiss-Wright Corporation $CW

Key Points

• Price T Rowe Associates Inc. MD sold 126,535 shares of Curtiss-Wright Corporation, reducing its holdings by 41.2%, now owning approximately 0.48% of the company.
• Several institutional investors, including GAMMA Investing LLC and Nuveen LLC, significantly increased their positions in Curtiss-Wright during the first quarter, indicating strong interest in the company.
• Curtiss-Wright's stock has received multiple price target upgrades from analysts, with Citigroup raising its target from $525.00 to $568.00 and maintaining a "buy" rating, reflecting positive market sentiment.

Price T Rowe Associates Inc. MD lowered its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 41.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 180,505 shares of the aerospace company's stock after selling 126,535 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.48% of Curtiss-Wright worth $57,270,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its position in Curtiss-Wright by 2,229.3% during the fourth quarter. NewEdge Advisors LLC now owns 955 shares of the aerospace company's stock worth $339,000 after purchasing an additional 914 shares during the period. Voya Investment Management LLC raised its stake in Curtiss-Wright by 102.8% in the fourth quarter. Voya Investment Management LLC now owns 20,838 shares of the aerospace company's stock valued at $7,395,000 after purchasing an additional 10,562 shares in the last quarter. Two Sigma Securities LLC purchased a new stake in Curtiss-Wright in the fourth quarter valued at approximately $318,000. Coldstream Capital Management Inc. raised its stake in Curtiss-Wright by 16.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,872 shares of the aerospace company's stock valued at $664,000 after purchasing an additional 263 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Curtiss-Wright by 21.4% during the fourth quarter. Northern Trust Corp now owns 329,918 shares of the aerospace company's stock worth $117,078,000 after acquiring an additional 58,207 shares in the last quarter. Institutional investors own 82.71% of the company's stock.

Analyst Upgrades and Downgrades

CW has been the topic of several research reports. Truist Financial decreased their price target on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Morgan Stanley lifted their price target 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. Wall Street Zen downgraded shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Citigroup lifted their target price 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. Finally, Stifel Nicolaus lifted 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. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $468.14.

Insiders Place Their Bets

In related news, VP John C. Watts sold 1,110 shares of the firm's stock in a transaction on 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. This trade represents a 22.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction 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 sale, the director owned 4,523 shares of the company's stock, valued at approximately $2,026,304. This represents a 29.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is owned by company insiders.

Curtiss-Wright Price Performance

CW traded down $8.30 during trading on Friday, reaching $477.59. 166,637 shares of the company traded hands, compared to its average volume of 337,324. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. Curtiss-Wright Corporation has a 12-month low of $266.88 and a 12-month high of $517.09. The firm has a fifty day simple moving average of $486.07 and a 200 day simple moving average of $404.71. The company has a market cap of $18.00 billion, a P/E ratio of 40.30, a PEG ratio of 2.98 and a beta of 1.18.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share 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%. Curtiss-Wright's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $2.67 earnings per share. On average, equities analysts forecast that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

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.