Curtiss-Wright Corporation $CW Stake Trimmed by Van ECK Associates Corp

Van ECK Associates Corp cut its position in shares of Curtiss-Wright Corporation (NYSE:CW) by 10.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 585,598 shares of the aerospace company’s stock after selling 68,972 shares during the quarter. Van ECK Associates Corp owned 1.59% of Curtiss-Wright worth $443,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Curtiss-Wright in the second quarter worth approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Curtiss-Wright in the 2nd quarter valued at approximately $30,000. Fiduciary Financial Advisors acquired a new position in Curtiss-Wright in the 2nd quarter worth approximately $31,000. Elevation Wealth Partners LLC boosted its stake in Curtiss-Wright by 237.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 54 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 38 shares during the period. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in Curtiss-Wright during the 4th quarter worth approximately $31,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Lynn M. Bamford sold 2,500 shares of the business’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 approximately $34,739,270.48. The trade was a 4.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 1,035 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value of $641,141.10. Following the completion of the transaction, the executive vice president owned 2,736 shares in the company, valued at $1,694,842.56. This represents a 27.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,934 shares of company stock valued at $2,733,499 in the last three months. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CW shares. Wall Street Zen lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a report on Wednesday, August 12th. Citigroup upped their price target on Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Weiss Ratings upgraded Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $860.00 target price on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $782.50.

Curtiss-Wright Trading Down 1.4%

Shares of NYSE:CW opened at $597.28 on Friday. The firm has a fifty day moving average of $718.27 and a two-hundred day moving average of $714.61. The company has a quick ratio of 1.12, a current ratio of 1.60 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. The firm has a market capitalization of $22.06 billion, a P/E 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 for the quarter, topping analysts’ consensus estimates of $3.62 by $0.10. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The business had revenue of $924.01 million for the quarter, compared to the consensus estimate of $926.17 million. During the same period in the prior year, the business posted $3.23 earnings per share. Curtiss-Wright’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities analysts expect that Curtiss-Wright Corporation will post 15.28 EPS for the current fiscal 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.