Sumitomo Life Insurance Co. Invests $2.32 Million in Curtiss-Wright Corporation $CW

Sumitomo Life Insurance Co. purchased a new position in Curtiss-Wright Corporation (NYSE:CW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,062 shares of the aerospace company’s stock, valued at approximately $2,320,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Curtiss-Wright during the second quarter worth about $3,448,649,000. State Street Corp increased its stake in shares of Curtiss-Wright by 1.2% during the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after purchasing an additional 16,962 shares in the last quarter. Invesco Ltd. increased its stake in shares of Curtiss-Wright by 7.9% during the fourth quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company’s stock valued at $671,231,000 after purchasing an additional 88,688 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Curtiss-Wright by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock valued at $464,130,000 after purchasing an additional 47,287 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Curtiss-Wright by 9.3% during the fourth quarter. AQR Capital Management LLC now owns 533,264 shares of the aerospace company’s stock valued at $293,972,000 after purchasing an additional 45,589 shares during the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Trading Down 2.1%

NYSE:CW opened at $634.55 on Friday. The company’s 50 day moving average price is $734.68 and its 200-day moving average price is $715.90. Curtiss-Wright Corporation has a 52 week low of $465.51 and a 52 week high of $808.16. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. The stock has a market cap of $23.43 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 2.92 and a beta of 0.87.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share 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 company had revenue of $924.01 million during the quarter, compared to analyst estimates of $926.17 million. During the same period in the previous year, the business earned $3.23 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Curtiss-Wright Corporation will post 15.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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 transaction of $288,058.05. Following the transaction, the vice president directly owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction, the executive vice president directly owned 3,962 shares in the company, valued at approximately $2,983,029.42. The trade was a 5.26% decrease in their ownership of the stock. 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 three months, insiders have sold 3,119 shares of company stock worth $2,257,998. Insiders own 0.51% of the company’s stock.

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.