Curtiss-Wright (NYSE:CW) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Curtiss-Wright (NYSE:CW) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other equities research analysts have also recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $860.00 target price on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Citigroup boosted their price target on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a report on Friday, May 8th. Stifel Nicolaus increased their price target on Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a research report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $782.50.

Curtiss-Wright Trading Down 0.9%

Shares of NYSE CW opened at $693.26 on Friday. Curtiss-Wright has a 1-year low of $465.51 and a 1-year high of $808.16. The company has a 50-day moving average of $741.07 and a two-hundred day moving average of $716.25. The company has a market cap of $25.60 billion, a PE ratio of 47.71, a P/E/G ratio of 3.15 and a beta of 0.87. 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) last released its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.62 by $0.10. The business had revenue of $924.01 million for the quarter, compared to analysts’ expectations of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. Curtiss-Wright’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.23 earnings per share. As a group, equities analysts expect that Curtiss-Wright will post 15.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Lynn M. Bamford sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the sale, the vice president owned 2,172 shares in the company, valued at $1,568,075.40. The trade was a 15.52% decrease in their position. 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. In the last ninety days, insiders sold 3,119 shares of company stock valued at $2,257,998. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Curtiss-Wright

A number of large investors have recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of Curtiss-Wright by 75.8% during the 4th quarter. CWM LLC now owns 18,425 shares of the aerospace company’s stock worth $10,157,000 after acquiring an additional 7,944 shares during the period. Pacer Advisors Inc. raised its stake in Curtiss-Wright by 114.8% in the 4th quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company’s stock valued at $5,931,000 after acquiring an additional 5,749 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Curtiss-Wright in the 4th quarter valued at $1,104,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Curtiss-Wright by 39,282.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,587 shares of the aerospace company’s stock valued at $35,605,000 after purchasing an additional 64,423 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd lifted its stake in shares of Curtiss-Wright by 72.8% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 7,432 shares of the aerospace company’s stock worth $4,097,000 after buying an additional 3,132 shares during the last quarter. Institutional investors and hedge funds own 82.71% 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.