Curtiss-Wright (NYSE:CW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $154.00 target price on the aerospace company’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.79% from the stock’s previous close.
According to Zacks, “Curtiss-Wright is an innovative engineering company. Curtiss-Wright provides high-tech, critical-function products, systems and services to the commercial, industrial, defense and power markets. Curtiss-Wright’s design, development and manufacture of innovative and advanced technologies provide value to customers and support strategic objective of 3-5% long-term organic revenue growth. Strategic acquisitions of complementary technologies allow businesses to keep pace with customers’ needs and expand addressable markets. Together, this has enabled Curtiss-Wright to become a preferred provider of unique solutions required to meet challenging needs and to provide increased safety, reliability and performance in the most demanding environments. Curtiss-Wright continually focuses on maintaining solid relationships with customers, building on competitive positions and creating market leadership through technology investment. “
Several other equities research analysts have also commented on CW. Seaport Global Securities reiterated a “buy” rating and set a $150.00 price objective on shares of Curtiss-Wright in a research note on Monday. William Blair restated a “market perform” rating on shares of Curtiss-Wright in a research report on Thursday, February 22nd. Bank of America upgraded Curtiss-Wright from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a research report on Monday, October 30th. Stifel Nicolaus upped their price target on Curtiss-Wright from $126.00 to $139.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Co upgraded Curtiss-Wright from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Tuesday, January 16th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $137.63.
In other Curtiss-Wright news, VP Tom P. Quinly sold 14,500 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $137.26, for a total transaction of $1,990,270.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP K Christopher Farkas sold 700 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $120.25, for a total value of $84,175.00. Following the transaction, the vice president now owns 2,152 shares in the company, valued at $258,778. The disclosure for this sale can be found here. Insiders sold 36,440 shares of company stock worth $4,649,175 over the last quarter. 1.10% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in Curtiss-Wright during the third quarter worth $591,000. Wells Fargo & Company MN increased its position in shares of Curtiss-Wright by 22.8% during the third quarter. Wells Fargo & Company MN now owns 290,269 shares of the aerospace company’s stock worth $30,345,000 after acquiring an additional 53,908 shares during the period. Legal & General Group Plc increased its position in shares of Curtiss-Wright by 11.1% during the third quarter. Legal & General Group Plc now owns 49,279 shares of the aerospace company’s stock worth $5,152,000 after acquiring an additional 4,938 shares during the period. Algert Global LLC increased its position in shares of Curtiss-Wright by 7.4% during the fourth quarter. Algert Global LLC now owns 22,288 shares of the aerospace company’s stock worth $2,716,000 after acquiring an additional 1,529 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Curtiss-Wright by 14.7% during the third quarter. Rhumbline Advisers now owns 102,415 shares of the aerospace company’s stock worth $10,706,000 after acquiring an additional 13,127 shares during the period. Institutional investors own 75.55% of the company’s stock.
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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