Hsbc Holdings PLC purchased a new stake in shares of Curtiss-Wright Corporation (NYSE:CW – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 21,651 shares of the aerospace company’s stock, valued at approximately $16,318,000. Hsbc Holdings PLC owned about 0.06% of Curtiss-Wright as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Ancora Advisors LLC bought a new position in shares of Curtiss-Wright in the second quarter valued at approximately $103,000. Primecap Management Co. CA bought a new stake in Curtiss-Wright during the 2nd quarter worth approximately $390,106,000. Canada Pension Plan Investment Board bought a new stake in Curtiss-Wright during the 2nd quarter worth approximately $30,131,000. Nicholas Investment Partners LP acquired a new stake in Curtiss-Wright during the 2nd quarter valued at $4,737,000. Finally, Legal & General Group Plc acquired a new stake in Curtiss-Wright during the 2nd quarter valued at $103,327,000. 82.71% of the stock is owned by institutional investors.
Curtiss-Wright Trading Down 2.2%
CW stock opened at $605.70 on Friday. The company has a market cap of $22.37 billion, a P/E ratio of 41.69, a PEG ratio of 2.79 and a beta of 0.87. Curtiss-Wright Corporation has a twelve month low of $465.51 and a twelve month high of $808.16. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $721.95 and a 200-day moving average of $715.43.
Insider Activity
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 shares were sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the completion of the sale, the chief executive officer directly owned 48,134 shares of the company’s stock, valued at $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $619.46, for a total transaction 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,934 shares of company stock valued at $2,733,499. 0.51% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts have commented on CW shares. Wall Street Zen lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Citigroup raised their target price on Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. Weiss Ratings raised Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 21st. Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Finally, Morgan Stanley reissued an “overweight” rating and set a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Curtiss-Wright presently has a consensus rating of “Moderate Buy” and a consensus price target of $782.50.
Curtiss-Wright 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.
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