Great Lakes Advisors LLC Takes $1.16 Million Position in Curtiss-Wright Corporation $CW

Great Lakes Advisors LLC acquired a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,530 shares of the aerospace company’s stock, valued at approximately $1,159,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CW. BlackRock Inc. bought a new stake in Curtiss-Wright in the 2nd quarter worth approximately $3,448,649,000. State Street Corp lifted its holdings in shares of Curtiss-Wright by 1.2% during the 3rd quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after buying an additional 16,962 shares during the period. Invesco Ltd. lifted its holdings in shares of Curtiss-Wright by 7.9% during the 4th quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company’s stock valued at $671,231,000 after buying an additional 88,688 shares during the period. Geode Capital Management LLC boosted its stake in shares of Curtiss-Wright by 6.0% in the 4th quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock worth $464,130,000 after buying an additional 47,287 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Curtiss-Wright by 9.3% in the 4th quarter. AQR Capital Management LLC now owns 533,264 shares of the aerospace company’s stock worth $293,972,000 after buying an additional 45,589 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Trading Down 2.1%

Shares of NYSE:CW opened at $634.55 on Friday. The stock has a 50 day moving average of $734.68 and a 200 day moving average of $715.90. 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 has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. Curtiss-Wright Corporation has a 12-month low of $465.51 and a 12-month high of $808.16.

Curtiss-Wright (NYSE:CW) last released its earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (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 company had revenue of $924.01 million during the quarter, compared to analyst estimates of $926.17 million. During the same period in the prior year, the firm posted $3.23 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Curtiss-Wright Corporation will post 15.28 EPS for the current year.

Wall Street Analyst Weigh In

CW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on Curtiss-Wright in a research report on Wednesday, August 12th. Morgan Stanley reissued an “overweight” rating and issued a $860.00 target price on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Robert W. Baird set a $870.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Wall Street Zen lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Curtiss-Wright has an average rating of “Moderate Buy” and an average price target of $782.50.

Insiders Place Their Bets

In other news, 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 completion of the sale, the chief executive officer directly owned 48,134 shares of the company’s stock, valued at $34,739,270.48. This represents a 4.94% decrease in their ownership of the stock. The sale 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 firm’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 sale, the executive vice president owned 3,962 shares in the company, valued at $2,983,029.42. The trade was 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 worth $2,257,998 over the last three months. 0.51% of the stock is currently owned by company insiders.

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.