William Blair Investment Management LLC Invests $240.44 Million in Curtiss-Wright Corporation $CW

William Blair Investment Management LLC purchased a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) in the 2nd quarter, Holdings Channel reports. The fund purchased 317,306 shares of the aerospace company’s stock, valued at approximately $240,442,000. Curtiss-Wright comprises approximately 0.7% of William Blair Investment Management LLC’s portfolio, making the stock its 26th largest position.

A number of other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Curtiss-Wright in the second quarter valued at about $3,448,649,000. Pacer Advisors Inc. grew its holdings in Curtiss-Wright by 114.8% during the 4th quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company’s stock worth $5,931,000 after acquiring an additional 5,749 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Curtiss-Wright during the 4th quarter worth about $1,104,000. Northwestern Mutual Wealth Management Co. increased its position 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 period. Finally, Catalyst Funds Management Pty Ltd lifted its position in shares of Curtiss-Wright by 72.8% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 7,432 shares of the aerospace company’s stock worth $4,097,000 after purchasing an additional 3,132 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.

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 approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the 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 sale, the chief executive officer owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. This represents a 4.94% decrease in their position. 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 worth $2,257,998 over the last three months. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

CW has been the topic of several research reports. Citigroup lifted their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Morgan Stanley restated an “overweight” rating and set a $860.00 target price on shares of Curtiss-Wright in a report on Wednesday, July 15th. Weiss Ratings cut Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Wall Street Zen downgraded Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Robert W. Baird set a $870.00 price target on Curtiss-Wright in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $782.50.

Curtiss-Wright Stock Performance

CW stock opened at $634.55 on Friday. Curtiss-Wright Corporation has a one year low of $465.51 and a one year high of $808.16. The firm 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. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. The firm has a 50-day simple moving average of $734.68 and a two-hundred day simple moving average of $715.90.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.10. The firm had revenue of $924.01 million for the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.23 EPS. On average, equities analysts forecast that Curtiss-Wright Corporation will post 15.28 EPS for the current fiscal year.

Curtiss-Wright 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.