Canada Pension Plan Investment Board Makes New $30.13 Million Investment in Curtiss-Wright Corporation $CW

Canada Pension Plan Investment Board bought a new position in Curtiss-Wright Corporation (NYSE:CW) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 39,763 shares of the aerospace company’s stock, valued at approximately $30,131,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Curtiss-Wright in the second quarter worth $3,448,649,000. Pacer Advisors Inc. grew its stake in Curtiss-Wright by 114.8% in the 4th quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company’s stock valued at $5,931,000 after buying an additional 5,749 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Curtiss-Wright in the 4th quarter worth $1,104,000. Northwestern Mutual Wealth Management Co. raised its holdings in Curtiss-Wright by 39,282.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 64,587 shares of the aerospace company’s stock worth $35,605,000 after acquiring an additional 64,423 shares during the period. Finally, Catalyst Funds Management Pty Ltd lifted its position in Curtiss-Wright by 72.8% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 7,432 shares of the aerospace company’s stock worth $4,097,000 after acquiring an additional 3,132 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CW has been the subject of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $860.00 price target on shares of Curtiss-Wright in a report on Wednesday, July 15th. Weiss Ratings upgraded Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a research report on Friday, May 8th. Stifel Nicolaus increased their target price on Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft set a $801.00 target price on Curtiss-Wright in a report on Wednesday, August 12th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $782.50.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This represents a 15.52% decrease in their position. The transaction 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, CEO Lynn M. Bamford sold 2,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 48,134 shares of the company’s stock, valued at $34,739,270.48. This represents a 4.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 3,934 shares of company stock worth $2,733,499. Company insiders own 0.51% of the company’s stock.

Curtiss-Wright Price Performance

Shares of Curtiss-Wright stock opened at $597.28 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12. Curtiss-Wright Corporation has a fifty-two week low of $465.51 and a fifty-two week high of $808.16. The firm has a fifty day moving average price of $718.27 and a two-hundred day moving average price of $714.61. The company has a market cap of $22.06 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87.

Curtiss-Wright (NYSE:CW) last posted its quarterly 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 for the quarter, compared to analyst estimates of $926.17 million. During the same period last year, the business posted $3.23 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Analysts expect that Curtiss-Wright Corporation will post 15.28 EPS for the current year.

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.