Wedge Capital Management L L P NC Buys 15,563 Shares of Curtiss-Wright Corporation $CW

Key Points

• Wedge Capital increased its Curtiss-Wright stake by 17.3% in the second quarter, purchasing 15,563 shares and bringing its holdings to 105,608 shares valued at approximately $80 million.
• Institutional investors own 82.71% of Curtiss-Wright, while insiders sold 3,119 shares worth about $2.26 million during the last quarter under pre-arranged trading plans.
• Curtiss-Wright reported quarterly EPS of $3.72, beating expectations, while revenue rose 5.4% year over year to $924 million. Analysts give the stock a “Moderate Buy” rating with a consensus price target of $773.67.

Wedge Capital Management L L P NC lifted its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 17.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,608 shares of the aerospace company's stock after buying an additional 15,563 shares during the quarter. Curtiss-Wright comprises 1.3% of Wedge Capital Management L L P NC's portfolio, making the stock its 12th largest position. Wedge Capital Management L L P NC owned approximately 0.29% of Curtiss-Wright worth $80,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Curtiss-Wright by 1.2% during the 3rd quarter. State Street Corp now owns 1,436,161 shares of the aerospace company's stock valued at $780,091,000 after acquiring an additional 16,962 shares in the last quarter. Invesco Ltd. raised its position in shares of Curtiss-Wright by 7.9% in the 4th quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company's stock worth $671,231,000 after acquiring an additional 88,688 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Curtiss-Wright by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company's stock worth $464,130,000 after acquiring an additional 47,287 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Curtiss-Wright by 9.3% in the 4th quarter. AQR Capital Management LLC now owns 533,264 shares of the aerospace company's stock valued at $293,972,000 after purchasing an additional 45,589 shares during the period. Finally, Norges Bank purchased a new position in shares of Curtiss-Wright in the 4th quarter valued at approximately $290,633,000. 82.71% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP John C. Watts sold 220 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the sale, the executive vice president directly owned 3,962 shares of the company's stock, valued at approximately $2,983,029.42. This represents a 5.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 48,134 shares in the company, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,119 shares of company stock worth $2,257,998 in the last quarter. Corporate insiders own 0.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

Curtiss-Wright Stock Up 1.4%

CW stock opened at $704.03 on Wednesday. The business has a 50 day moving average of $743.64 and a 200 day moving average of $714.92. The firm has a market cap of $26.00 billion, a PE ratio of 48.45, a price-to-earnings-growth ratio of 3.17 and a beta of 0.87. Curtiss-Wright Corporation has a twelve month low of $465.51 and a twelve month high of $808.16. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its earnings results on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The business had revenue of $924.01 million for the quarter, compared to the consensus estimate of $926.17 million. During the same period in the previous year, the company posted $3.23 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, research analysts forecast that Curtiss-Wright Corporation will post 15.27 EPS for the current fiscal year.

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.

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