Wellington Management Group LLP Buys 9,569 Shares of Curtiss-Wright Corporation $CW

Key Points

• Wellington Management Group LLP has increased its holdings in Curtiss-Wright Corporation by 5.3%, acquiring an additional 9,569 shares, bringing its total to 189,250 shares worth approximately $60 million.
• Several institutional investors have significantly raised their stakes, including Whipplewood Advisors LLC with a 1,566.7% increase and Private Trust Co. NA with an increase of 13,800% during the first quarter.
• Curtiss-Wright's latest earnings report showed a rise in earnings per share to $3.23, which surpassed analyst expectations, along with an 11.7% year-over-year revenue increase.

Wellington Management Group LLP boosted its stake in shares of Curtiss-Wright Corporation (NYSE:CW - Free Report) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,250 shares of the aerospace company's stock after acquiring an additional 9,569 shares during the quarter. Wellington Management Group LLP owned 0.50% of Curtiss-Wright worth $60,043,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Curtiss-Wright by 23.3% during the first quarter. Bank of New York Mellon Corp now owns 552,893 shares of the aerospace company's stock worth $175,417,000 after acquiring an additional 104,393 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of 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 buying an additional 5,007 shares in the last quarter. Northern Trust Corp increased its stake in shares of Curtiss-Wright by 21.4% in the fourth quarter. Northern Trust Corp now owns 329,918 shares of the aerospace company's stock valued at $117,078,000 after buying an additional 58,207 shares in the last quarter. Driehaus Capital Management LLC increased its stake in shares of Curtiss-Wright by 3.0% in the fourth quarter. Driehaus Capital Management LLC now owns 291,582 shares of the aerospace company's stock valued at $103,474,000 after buying an additional 8,447 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of 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 buying an additional 258,950 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Trading Up 0.2%

CW stock traded up $0.82 during midday trading on Wednesday, reaching $491.92. The stock had a trading volume of 81,014 shares, compared to its average volume of 314,018. The business has a fifty day simple moving average of $484.84 and a two-hundred day simple moving average of $402.32. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.35. Curtiss-Wright Corporation has a twelve month low of $266.88 and a twelve month high of $517.09. The firm has a market cap of $18.54 billion, a price-to-earnings ratio of 41.49, a PEG ratio of 2.93 and a beta of 1.18.

Curtiss-Wright (NYSE:CW - Get Free Report) last released its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 EPS for the quarter, topping analysts' consensus estimates of $3.13 by $0.10. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The firm had revenue of $876.58 million during the quarter, compared to analyst estimates of $855.10 million. During the same quarter in the previous year, the business earned $2.67 EPS. The business's quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Curtiss-Wright news, Director Bruce D. Hoechner sold 1,900 shares of Curtiss-Wright stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $448.00, for a total transaction 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. The trade was a 29.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John C. Watts sold 1,110 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $480.50, for a total value of $533,355.00. Following the transaction, the vice president owned 3,863 shares in the company, valued at approximately $1,856,171.50. This trade represents a 22.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,460 shares of company stock valued at $1,586,767 in the last ninety days. Company insiders own 0.55% of the company's stock.

Wall Street Analyst Weigh In

CW has been the subject of a number of research reports. Citigroup raised their target price on Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Stifel Nicolaus raised their target price on 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 lowered their target price on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a research note on Friday, July 11th. Morgan Stanley raised their target price on Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Finally, Robert W. Baird raised their target price on Curtiss-Wright from $432.00 to $500.00 and gave the company 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $468.14.

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.