Washington Capital Management Inc. Raises Stake in Curtiss-Wright Corp. (NYSE:CW)

Washington Capital Management Inc. raised its stake in Curtiss-Wright Corp. (NYSE:CW) by 13.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,300 shares of the aerospace company’s stock after purchasing an additional 500 shares during the quarter. Washington Capital Management Inc.’s holdings in Curtiss-Wright were worth $547,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in Curtiss-Wright by 56.9% in the second quarter. Wells Fargo & Company MN now owns 284,382 shares of the aerospace company’s stock worth $36,154,000 after purchasing an additional 103,183 shares in the last quarter. Stone Ridge Asset Management LLC raised its holdings in Curtiss-Wright by 37.5% in the second quarter. Stone Ridge Asset Management LLC now owns 4,032 shares of the aerospace company’s stock worth $513,000 after purchasing an additional 1,100 shares in the last quarter. Savant Capital LLC bought a new position in Curtiss-Wright in the second quarter worth $213,000. GW Henssler & Associates Ltd. raised its holdings in Curtiss-Wright by 13.1% in the second quarter. GW Henssler & Associates Ltd. now owns 3,400 shares of the aerospace company’s stock worth $432,000 after purchasing an additional 393 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new position in Curtiss-Wright in the second quarter worth $213,000. Hedge funds and other institutional investors own 76.14% of the company’s stock.

Shares of NYSE CW traded down $2.35 during trading on Friday, reaching $120.62. The company had a trading volume of 294,426 shares, compared to its average volume of 209,597. Curtiss-Wright Corp. has a 12-month low of $95.23 and a 12-month high of $141.29. The stock has a market cap of $5.25 billion, a PE ratio of 18.94, a P/E/G ratio of 2.09 and a beta of 1.23. The business’s 50-day moving average is $124.47 and its 200 day moving average is $118.28. The company has a quick ratio of 1.41, a current ratio of 2.10 and a debt-to-equity ratio of 0.53.

Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, July 31st. The aerospace company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.13. Curtiss-Wright had a return on equity of 18.54% and a net margin of 11.90%. The firm had revenue of $639.00 million for the quarter, compared to analysts’ expectations of $642.66 million. During the same period in the prior year, the firm posted $1.80 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that Curtiss-Wright Corp. will post 7.12 earnings per share for the current year.

Curtiss-Wright announced that its board has approved a stock repurchase plan on Wednesday, May 15th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 4.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other news, Director S Marce Fuller sold 1,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $122.90, for a total value of $122,900.00. Following the sale, the director now directly owns 10,222 shares of the company’s stock, valued at $1,256,283.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Charles Adams sold 7,608 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $120.11, for a total value of $913,796.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,608 shares of company stock worth $2,521,767. Insiders own 0.90% of the company’s stock.

A number of research firms have issued reports on CW. Stifel Nicolaus increased their price objective on Curtiss-Wright from $138.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Zacks Investment Research upgraded Curtiss-Wright from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Wednesday, May 15th. Finally, ValuEngine upgraded Curtiss-Wright from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $139.20.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.

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Institutional Ownership by Quarter for Curtiss-Wright (NYSE:CW)

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