Curtiss-Wright (NYSE:CW) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Curtiss-Wright (NYSE:CW) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating and issued a $860.00 price target on shares of Curtiss-Wright in a report on Wednesday, July 15th. Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a research report on Friday, May 8th. Citigroup increased their target price on Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Weiss Ratings downgraded Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus upped their price target on shares of Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Curtiss-Wright has a consensus rating of “Moderate Buy” and an average target price of $782.50.

Curtiss-Wright Price Performance

Shares of Curtiss-Wright stock opened at $698.64 on Friday. The stock has a 50 day moving average of $741.61 and a 200 day moving average of $715.55. Curtiss-Wright has a 12 month low of $465.51 and a 12 month high of $808.16. The firm has a market cap of $25.80 billion, a PE ratio of 48.08, a PEG ratio of 3.15 and a beta of 0.87. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.10. The company had revenue of $924.01 million for 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%. Curtiss-Wright’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.23 earnings per share. On average, research analysts expect that Curtiss-Wright will post 15.28 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Lynn M. Bamford sold 2,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 48,134 shares of the company’s stock, valued at $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $288,058.05. Following the sale, the vice president owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This trade represents a 15.52% 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 3,119 shares of company stock worth $2,257,998 in the last three months. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CW. Goldman Sachs Group Inc. grew its holdings in Curtiss-Wright by 10.6% in the first quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company’s stock worth $67,611,000 after purchasing an additional 20,379 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Curtiss-Wright during the 2nd quarter worth $235,000. Northwestern Mutual Wealth Management Co. increased its position in Curtiss-Wright by 53.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock valued at $49,000 after buying an additional 35 shares in the last quarter. Marshall Wace LLP acquired a new position in Curtiss-Wright during the 2nd quarter valued at about $5,423,000. Finally, Cresset Asset Management LLC grew its stake in shares of Curtiss-Wright by 46.4% during the second quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company’s stock worth $705,000 after acquiring an additional 457 shares during the last quarter. Hedge funds and other institutional investors own 82.71% 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.