Hsbc Holdings PLC Sells 23,696 Shares of Curtiss-Wright Corporation $CW

Hsbc Holdings PLC cut its holdings in shares of Curtiss-Wright Corporation (NYSE:CW) by 70.9% in the 1st quarter, HoldingsChannel reports. The fund owned 9,718 shares of the aerospace company’s stock after selling 23,696 shares during the period. Hsbc Holdings PLC’s holdings in Curtiss-Wright were worth $6,580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Curtiss-Wright during the 4th quarter valued at about $290,633,000. Corient Private Wealth LLC lifted its holdings in shares of Curtiss-Wright by 6,169.8% in the fourth quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company’s stock valued at $224,108,000 after purchasing an additional 400,047 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Curtiss-Wright by 61.0% in the fourth quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company’s stock valued at $270,392,000 after purchasing an additional 185,887 shares in the last quarter. Axiom Investors LLC DE bought a new stake in Curtiss-Wright during the fourth quarter worth $76,892,000. Finally, AQR Capital Management LLC raised its position in Curtiss-Wright by 45.8% in the 2nd quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock valued at $189,468,000 after buying an additional 122,048 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Analyst Upgrades and Downgrades

CW has been the topic of a number of analyst reports. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a report on Friday, May 8th. Stifel Nicolaus increased their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a report on Monday. Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. 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. Finally, Citigroup increased their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $773.67.

Curtiss-Wright Stock Up 2.3%

Curtiss-Wright stock opened at $749.55 on Friday. The firm has a 50 day moving average price of $745.17 and a 200-day moving average price of $706.10. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. Curtiss-Wright Corporation has a twelve month low of $464.91 and a twelve month high of $808.16. The company has a market capitalization of $27.69 billion, a P/E ratio of 54.91, a P/E/G ratio of 3.36 and a beta of 0.86.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The company had revenue of $913.69 million for the quarter, compared to analysts’ expectations of $863.83 million. During the same quarter in the previous year, the firm posted $2.82 EPS. Curtiss-Wright’s revenue was up 13.4% on a year-over-year basis. As a group, equities analysts predict that Curtiss-Wright Corporation will post 15.22 EPS for the current year.

Curtiss-Wright Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were paid a $0.24 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright’s payout ratio is presently 7.62%.

Insider Buying and Selling at Curtiss-Wright

In related news, VP Gary A. Ogilby sold 399 shares of Curtiss-Wright 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 completion of the sale, the vice president owned 2,172 shares of the company’s stock, valued at approximately $1,568,075.40. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John C. Watts sold 220 shares of the business’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of the sale, the executive vice president owned 3,962 shares in the company, valued at $2,983,029.42. This represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 worth $2,257,998 over the last ninety days. 0.51% of the stock is currently owned by company insiders.

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.