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

The Manufacturers Life Insurance Company bought a new stake in Curtiss-Wright Corporation (NYSE:CW) during the 2nd quarter, Holdings Channel.com reports. The firm bought 17,218 shares of the aerospace company’s stock, valued at approximately $13,047,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Curtiss-Wright in the 2nd quarter valued at $30,000. Cary Street Partners Investment Advisory LLC bought a new stake in Curtiss-Wright during the fourth quarter valued at $31,000. Fiduciary Financial Advisors acquired a new stake in Curtiss-Wright during the 2nd quarter worth about $31,000. Larson Financial Group LLC raised its position in shares of Curtiss-Wright by 53.8% in the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 21 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its position in shares of Curtiss-Wright by 25.9% in 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 in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CW shares. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Citigroup boosted their price target on Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $860.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Finally, Stifel Nicolaus lifted their price objective on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $782.50.

Curtiss-Wright Stock Performance

Shares of Curtiss-Wright stock opened at $597.28 on Friday. The company has a market cap 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. 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 Corporation has a 52 week low of $465.51 and a 52 week high of $808.16. The business has a 50 day moving average price of $718.27 and a 200-day moving average price of $714.61.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $926.17 million. During the same period in the previous year, the firm earned $3.23 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Curtiss-Wright Corporation will post 15.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Lynn M. Bamford sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the sale, the chief executive officer directly owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 1,035 shares of Curtiss-Wright stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value of $641,141.10. Following the sale, the executive vice president owned 2,736 shares in the company, valued at $1,694,842.56. This trade represents a 27.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,934 shares of company stock valued at $2,733,499. Corporate insiders own 0.51% of the company’s stock.

About Curtiss-Wright

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.