Royal Bank of Canada Grows Stock Holdings in Curtiss-Wright Corporation $CW

Key Points

• Royal Bank of Canada increased its Curtiss-Wright stake by 56.9% in the first quarter to 44,457 shares worth approximately $30.3 million. Institutional investors and hedge funds collectively own 82.71% of the company.
• Analysts maintain a generally positive outlook, with three Buy and three Hold ratings producing a “Moderate Buy” consensus and an average price target of $773.67.
• Curtiss-Wright reported stronger-than-expected quarterly results, including $3.48 in EPS and $913.69 million in revenue, up 13.4% year over year. Shares opened at $748.49, while insiders have sold 3,119 shares worth about $2.26 million over the past 90 days.

Royal Bank of Canada boosted its holdings in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 56.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,457 shares of the aerospace company's stock after buying an additional 16,130 shares during the quarter. Royal Bank of Canada owned approximately 0.12% of Curtiss-Wright worth $30,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its stake in shares of Curtiss-Wright by 10.6% during the first quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company's stock valued at $67,611,000 after buying an additional 20,379 shares during the period. Sivia Capital Partners LLC acquired a new position in Curtiss-Wright in the 2nd quarter valued at $235,000. Northwestern Mutual Wealth Management Co. raised its holdings in Curtiss-Wright by 53.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company's stock valued at $49,000 after acquiring an additional 35 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Curtiss-Wright during the 2nd quarter worth $5,423,000. Finally, Cresset Asset Management LLC boosted its holdings in shares of Curtiss-Wright by 46.4% during the second quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company's stock worth $705,000 after purchasing an additional 457 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley reiterated an "overweight" rating and issued a $860.00 price target on shares of Curtiss-Wright in a report on Wednesday, July 15th. Stifel Nicolaus upped their target price on Curtiss-Wright from $724.00 to $768.00 and gave the stock a "hold" rating in a research report on Monday, July 20th. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Citigroup raised their target price on Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a report on Wednesday, July 1st. Finally, Weiss Ratings raised Curtiss-Wright from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $773.67.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total transaction of $288,058.05. Following the transaction, the vice president owned 2,172 shares of the company's stock, valued at $1,568,075.40. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the transaction, the chief executive officer owned 48,134 shares in the company, valued at approximately $34,739,270.48. This represents a 4.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by insiders.

Curtiss-Wright Stock Up 3.4%

Shares of Curtiss-Wright stock opened at $748.49 on Tuesday. The firm has a market cap of $27.65 billion, a price-to-earnings ratio of 54.83, a P/E/G ratio of 3.32 and a beta of 0.87. The stock has a 50-day simple moving average of $746.12 and a 200-day simple moving average of $712.32. Curtiss-Wright Corporation has a 52-week low of $464.91 and a 52-week high of $808.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping analysts' consensus estimates of $3.32 by $0.16. The business had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 earnings per share. On average, equities research analysts expect that Curtiss-Wright Corporation will post 15.22 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.1%. The ex-dividend date was Monday, June 15th. Curtiss-Wright's dividend payout ratio is currently 7.62%.

Curtiss-Wright 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.

Want to see what other hedge funds are holding CW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Curtiss-Wright Corporation (NYSE:CW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source