TimesSquare Capital Management LLC Makes New $124.67 Million Investment in Curtiss-Wright Corporation $CW

TimesSquare Capital Management LLC bought a new stake in Curtiss-Wright Corporation (NYSE:CW) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 164,528 shares of the aerospace company’s stock, valued at approximately $124,673,000. Curtiss-Wright comprises 1.8% of TimesSquare Capital Management LLC’s holdings, making the stock its 9th biggest holding. TimesSquare Capital Management LLC owned approximately 0.45% of Curtiss-Wright as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Transamerica Financial Advisors LLC grew its position in shares of Curtiss-Wright by 25.9% during the fourth 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 last quarter. IFP Advisors Inc lifted its position in Curtiss-Wright by 2.3% in the 4th quarter. IFP Advisors Inc now owns 698 shares of the aerospace company’s stock valued at $385,000 after purchasing an additional 16 shares during the last quarter. Summit Financial LLC boosted its stake in Curtiss-Wright by 2.3% during the 4th quarter. Summit Financial LLC now owns 697 shares of the aerospace company’s stock valued at $384,000 after purchasing an additional 16 shares during the period. VestGen Investment Management boosted its stake in Curtiss-Wright by 0.9% during the 4th quarter. VestGen Investment Management now owns 1,870 shares of the aerospace company’s stock valued at $1,031,000 after purchasing an additional 17 shares during the period. Finally, Jackson Thornton Wealth Management LLC grew its position in Curtiss-Wright by 4.9% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 410 shares of the aerospace company’s stock worth $298,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Trading Down 0.9%

Shares of NYSE:CW opened at $693.26 on Tuesday. The company has a 50 day moving average of $741.07 and a 200-day moving average of $716.25. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The firm has a market cap of $25.60 billion, a P/E ratio of 47.71, a P/E/G ratio of 3.15 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.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 EPS 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 business 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 earned $3.23 earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts anticipate that Curtiss-Wright Corporation will post 15.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Curtiss-Wright

In other news, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of the sale, the vice president owned 2,172 shares in the company, valued at $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of the sale, the executive vice president owned 3,962 shares of the company’s stock, valued at approximately $2,983,029.42. This trade represents a 5.26% 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. In the last ninety days, insiders sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CW. Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a report on Wednesday, August 12th. Morgan Stanley reissued an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. Wall Street Zen downgraded Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday. Robert W. Baird set a $870.00 price target on Curtiss-Wright in a research report on Friday, May 8th. Finally, Weiss Ratings cut Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently 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.