Wall Street Zen Downgrades Curtiss-Wright (NYSE:CW) to Hold

Curtiss-Wright (NYSE:CW) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

CW has been the subject of a number of other reports. Stifel Nicolaus upped their price objective on Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Weiss Ratings cut Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Citigroup boosted their target price on Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $782.50.

Curtiss-Wright Stock Performance

Curtiss-Wright stock opened at $698.64 on Friday. Curtiss-Wright has a fifty-two week low of $465.51 and a fifty-two 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 stock has a market cap of $25.80 billion, a P/E ratio of 48.08, a price-to-earnings-growth ratio of 3.15 and a beta of 0.87. The firm’s fifty day moving average price is $741.61 and its 200-day moving average price is $716.01.

Curtiss-Wright (NYSE:CW) last announced 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. The company had revenue of $924.01 million during the quarter, compared to analyst estimates of $926.17 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.23 earnings per share. On average, equities research analysts expect that Curtiss-Wright will post 15.28 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John C. Watts sold 220 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the transaction, the executive vice president directly owned 3,962 shares of the company’s stock, valued at approximately $2,983,029.42. This trade represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of Curtiss-Wright stock in a transaction dated Tuesday, June 9th. The stock was 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 in the company, valued at approximately $34,739,270.48. This represents a 4.94% 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. Over the last three months, insiders have sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Curtiss-Wright

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Magnolia Capital Advisors LLC purchased a new position in Curtiss-Wright in the 2nd quarter worth approximately $382,000. Freestone Grove Partners LP purchased a new stake in shares of Curtiss-Wright during the second quarter valued at approximately $8,903,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Curtiss-Wright during the second quarter valued at approximately $34,992,000. Man Group plc bought a new position in shares of Curtiss-Wright in the second quarter worth approximately $11,621,000. Finally, Jupiter Topco LLC bought a new position in shares of Curtiss-Wright in the second quarter worth approximately $2,883,000. 82.71% of the stock is currently owned by institutional investors.

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.