Korea Investment CORP Buys New Position in Curtiss-Wright Corporation $CW

Korea Investment CORP purchased a new stake in Curtiss-Wright Corporation (NYSE:CW) in the second quarter, HoldingsChannel.com reports. The firm purchased 26,584 shares of the aerospace company’s stock, valued at approximately $20,144,000.

Several other institutional investors have also added to or reduced their stakes in the business. EP Wealth Advisors LLC purchased a new stake in shares of Curtiss-Wright during the second quarter worth about $1,534,000. Ieq Capital LLC purchased a new position in shares of Curtiss-Wright in the 2nd quarter valued at approximately $18,599,000. Callan Family Office LLC acquired a new stake in Curtiss-Wright in the 2nd quarter worth approximately $736,000. Expressive Wealth LLC acquired a new stake in Curtiss-Wright in the 2nd quarter worth approximately $259,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in Curtiss-Wright during the 2nd quarter worth approximately $225,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Insider Buying and Selling

In related news, VP Gary A. Ogilby sold 399 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the completion of the transaction, the vice president directly owned 2,172 shares in the company, valued at $1,568,075.40. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the transaction, the executive vice president owned 3,962 shares of the company’s stock, valued at $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,119 shares of company stock valued at $2,257,998 over the last 90 days. Insiders own 0.51% of the company’s stock.

Curtiss-Wright Price Performance

Shares of NYSE:CW opened at $634.55 on Monday. Curtiss-Wright Corporation has a twelve month low of $465.51 and a twelve month high of $808.16. 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 company has a market cap of $23.43 billion, a PE ratio of 43.67, a price-to-earnings-growth ratio of 2.86 and a beta of 0.87. The company’s 50 day moving average is $734.68 and its 200 day moving average is $716.27.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data 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 during 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%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.23 EPS. On average, sell-side analysts forecast that Curtiss-Wright Corporation will post 15.28 EPS for the current year.

Wall Street Analyst Weigh In

CW has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Wall Street Zen downgraded shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Morgan Stanley reissued an “overweight” rating and set a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Finally, Stifel Nicolaus raised their target price on Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a research note on Monday, July 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and a consensus 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.