Sandler Capital Management Sells 11,108 Shares of Curtiss-Wright Corporation $CW

Key Points

• Sandler Capital Management has reduced its position in Curtiss-Wright Corporation by 49.5%, selling 11,108 shares and holding a total of 11,312 shares valued at $3,589,000 at the end of the reporting period.
• Curtiss-Wright reported a quarterly earnings of $3.23 per share, exceeding analysts' expectations and achieving an 11.7% increase in revenue year-over-year to $876.58 million.
• Several institutional investors have adjusted their stakes in Curtiss-Wright, with approximately 82.71% of the stock now owned by institutional investors.

Sandler Capital Management lowered its position in Curtiss-Wright Corporation (NYSE:CW - Free Report) by 49.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,312 shares of the aerospace company's stock after selling 11,108 shares during the quarter. Sandler Capital Management's holdings in Curtiss-Wright were worth $3,589,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Curtiss-Wright by 23.3% in 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 acquiring an additional 104,393 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Curtiss-Wright by 1.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 343,513 shares of the aerospace company's stock valued at $110,769,000 after acquiring an additional 5,007 shares during the last quarter. AQR Capital Management LLC lifted its stake in Curtiss-Wright by 25.6% in the first quarter. AQR Capital Management LLC now owns 266,445 shares of the aerospace company's stock valued at $81,761,000 after acquiring an additional 54,289 shares during the last quarter. GAMMA Investing LLC lifted its stake in 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 acquiring an additional 258,950 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Curtiss-Wright by 6.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 251,874 shares of the aerospace company's stock valued at $79,912,000 after acquiring an additional 14,684 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company's stock.

Curtiss-Wright Stock Performance

Curtiss-Wright stock traded down $1.76 during midday trading on Tuesday, hitting $482.47. The company's stock had a trading volume of 173,642 shares, compared to its average volume of 220,289. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $517.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.35. The company has a 50-day moving average price of $486.06 and a two-hundred day moving average price of $412.60. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 2.97 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 EPS for the quarter, beating the consensus estimate of $3.13 by $0.10. The company had revenue of $876.58 million during the quarter, compared to analysts' expectations 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 for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.67 EPS. As a group, sell-side analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Insider Activity at Curtiss-Wright

In other news, VP John C. Watts sold 1,110 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $480.50, for a total value of $533,355.00. Following the completion of the transaction, the vice president directly owned 3,863 shares in the company, valued at approximately $1,856,171.50. The trade was a 22.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CW shares. Wall Street Zen cut shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Stifel Nicolaus increased their price target on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Truist Financial cut their target price 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. Citigroup raised 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, Robert W. Baird raised their target price 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. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Curtiss-Wright currently has an average rating of "Moderate Buy" and an average target price of $468.14.

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.