The Manufacturers Life Insurance Company Invests $13.05 Million in Curtiss-Wright Corporation $CW

Key Points

• The Manufacturers Life Insurance Company acquired 17,218 Curtiss-Wright shares worth approximately $13.05 million in the second quarter. Institutional investors and hedge funds collectively own 82.71% of the company.
• Curtiss-Wright shares recently traded down 1.4% at $597.28, while the company reported quarterly earnings of $3.72 per share, beating estimates, and revenue increased 5.4% year over year to $924.01 million.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $782.50; meanwhile, company insiders sold 3,934 shares worth approximately $2.73 million over the past 90 days.

The Manufacturers Life Insurance Company bought a new stake in Curtiss-Wright Corporation (NYSE:CW - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,218 shares of the aerospace company's stock, valued at approximately $13,047,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Curtiss-Wright during the 2nd quarter worth approximately $30,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Curtiss-Wright in the fourth quarter valued at approximately $31,000. Fiduciary Financial Advisors bought a new stake in shares of Curtiss-Wright in the second quarter valued at approximately $31,000. Larson Financial Group LLC grew its position in Curtiss-Wright by 53.8% during the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company's stock worth $33,000 after buying an additional 21 shares in the last quarter. Finally, Transamerica Financial Advisors LLC increased its stake in Curtiss-Wright by 25.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after acquiring an additional 15 shares during the period. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Trading Down 1.4%

Shares of Curtiss-Wright stock opened at $597.28 on Friday. The firm's 50 day moving average is $718.27 and its 200 day moving average is $714.61. The firm has a market capitalization of $22.06 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87. Curtiss-Wright Corporation has a 1 year low of $465.51 and a 1 year high of $808.16. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, beating analysts' consensus estimates of $3.62 by $0.10. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The firm had revenue of $924.01 million for the quarter, compared to analyst estimates of $926.17 million. During the same quarter last year, the business posted $3.23 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that Curtiss-Wright Corporation will post 15.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the transaction, the chief executive officer directly owned 48,134 shares in the company, valued at approximately $34,739,270.48. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of Curtiss-Wright stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total value of $288,058.05. Following the sale, the vice president directly owned 2,172 shares in the company, valued at $1,568,075.40. The trade was a 15.52% 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. Insiders sold a total of 3,934 shares of company stock valued at $2,733,499 in the last 90 days. Corporate insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

CW has been the subject of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $860.00 target price on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Stifel Nicolaus upped their price objective on shares of Curtiss-Wright from $724.00 to $768.00 and gave the stock a "hold" rating in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, August 12th. Citigroup boosted their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a research report on Wednesday, July 1st. Finally, Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $782.50.

Curtiss-Wright Company 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.

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