Hsbc Holdings PLC Invests $16.32 Million in Curtiss-Wright Corporation $CW

Hsbc Holdings PLC acquired a new stake in Curtiss-Wright Corporation (NYSE:CW) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 21,651 shares of the aerospace company’s stock, valued at approximately $16,318,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new position in Curtiss-Wright in the second quarter valued at about $103,000. Primecap Management Co. CA acquired a new position in shares of Curtiss-Wright during the 2nd quarter worth about $390,106,000. Canada Pension Plan Investment Board bought a new stake in shares of Curtiss-Wright in the 2nd quarter valued at about $30,131,000. Nicholas Investment Partners LP bought a new stake in shares of Curtiss-Wright in the 2nd quarter valued at about $4,737,000. Finally, Legal & General Group Plc acquired a new stake in shares of Curtiss-Wright in the 2nd quarter valued at approximately $103,327,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

Shares of CW opened at $605.70 on Friday. The stock has a 50 day simple moving average of $721.95 and a 200 day simple moving average of $715.43. Curtiss-Wright Corporation has a 52-week low of $465.51 and a 52-week high of $808.16. 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 market capitalization of $22.37 billion, a PE ratio of 41.69, a P/E/G ratio of 2.79 and a beta of 0.87.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, topping the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The firm had revenue of $924.01 million for the quarter, compared to the consensus estimate of $926.17 million. During the same period last year, the company posted $3.23 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts predict that Curtiss-Wright Corporation will post 15.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft set a $801.00 target price on shares of Curtiss-Wright in a report on Wednesday, August 12th. Morgan Stanley reissued an “overweight” rating and set a $860.00 price target on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Wall Street Zen cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $782.50.

Insider Buying and Selling

In related news, EVP John C. Watts sold 1,035 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total transaction of $641,141.10. Following the sale, the executive vice president directly owned 2,736 shares in the company, valued at $1,694,842.56. This trade represents a 27.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Lynn M. Bamford sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the sale, the chief executive officer directly owned 48,134 shares in the company, valued at $34,739,270.48. This represents a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,934 shares of company stock worth $2,733,499 over the last ninety days. Company insiders own 0.51% of the company’s stock.

About Curtiss-Wright

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.