Hsbc Holdings PLC Increases Stock Position in Curtiss-Wright Corporation $CW

Hsbc Holdings PLC raised its stake in Curtiss-Wright Corporation (NYSE:CW) by 53.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,414 shares of the aerospace company’s stock after purchasing an additional 11,660 shares during the period. Hsbc Holdings PLC’s holdings in Curtiss-Wright were worth $18,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Curtiss-Wright by 738.8% in the fourth quarter. SG Americas Securities LLC now owns 26,003 shares of the aerospace company’s stock valued at $14,335,000 after acquiring an additional 22,903 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Curtiss-Wright in the third quarter valued at $37,812,000. Grove Bank & Trust acquired a new position in Curtiss-Wright in the fourth quarter valued at $1,104,000. Pacer Advisors Inc. lifted its position in Curtiss-Wright by 114.8% during the fourth quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company’s stock worth $5,931,000 after buying an additional 5,749 shares during the period. Finally, CWM LLC boosted its stake in Curtiss-Wright by 75.8% in the 4th quarter. CWM LLC now owns 18,425 shares of the aerospace company’s stock worth $10,157,000 after buying an additional 7,944 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Analysts Set New Price Targets

CW has been the subject of several recent analyst reports. Citigroup lifted their price target on Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Finally, Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Curtiss-Wright currently has an average rating of “Moderate Buy” and an average target price of $749.67.

Insider Buying and Selling at Curtiss-Wright

In other news, CEO Lynn M. Bamford sold 2,500 shares of the firm’s 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 transaction, the chief executive officer owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. This trade represents a 4.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total value of $288,058.05. Following the transaction, the vice president owned 2,172 shares in the company, valued at approximately $1,568,075.40. This represents a 15.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 valued at $2,257,998 over the last ninety days. Corporate insiders own 0.51% of the company’s stock.

Curtiss-Wright Stock Performance

Shares of NYSE:CW opened at $766.31 on Wednesday. The business has a 50-day moving average of $742.61 and a two-hundred day moving average of $691.11. The firm has a market capitalization of $28.31 billion, a PE ratio of 56.14, a P/E/G ratio of 3.67 and a beta of 0.86. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. Curtiss-Wright Corporation has a 12 month low of $463.00 and a 12 month high of $808.16.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.16. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.The business had revenue of $913.69 million for the quarter, compared to analyst estimates of $863.83 million. During the same period in the previous year, the company posted $2.82 EPS. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts forecast that Curtiss-Wright Corporation will post 15.17 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th. Curtiss-Wright’s payout ratio is 7.62%.

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.