Los Angeles Capital Management & Equity Research Inc. trimmed its position in shares of Curtiss-Wright Corp. (NYSE:CW) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 538,906 shares of the aerospace company’s stock after selling 11,639 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 1.26% of Curtiss-Wright worth $68,511,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carroll Financial Associates Inc. acquired a new position in Curtiss-Wright in the second quarter valued at $38,000. Brand Asset Management Group Inc. increased its stake in Curtiss-Wright by 49.6% in the first quarter. Brand Asset Management Group Inc. now owns 377 shares of the aerospace company’s stock valued at $46,000 after purchasing an additional 125 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Curtiss-Wright in the second quarter valued at $60,000. Quadrant Capital Group LLC increased its stake in Curtiss-Wright by 836.5% in the first quarter. Quadrant Capital Group LLC now owns 590 shares of the aerospace company’s stock valued at $65,000 after purchasing an additional 527 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. acquired a new stake in Curtiss-Wright during the first quarter worth about $69,000. Institutional investors own 76.23% of the company’s stock.
CW traded down $2.21 on Friday, reaching $121.16. The company’s stock had a trading volume of 6,674 shares, compared to its average volume of 239,960. The firm has a market cap of $5.27 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.23. Curtiss-Wright Corp. has a 1 year low of $95.23 and a 1 year high of $141.29. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.41 and a current ratio of 2.10. The firm has a 50 day moving average of $125.35.
Curtiss-Wright declared that its board has approved a share repurchase program on Wednesday, May 15th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the aerospace company to buy up to 4.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Curtiss-Wright news, VP Glenn E. Tynan sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $115.00, for a total transaction of $575,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Charles Adams sold 7,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $130.01, for a total value of $910,070.00. The disclosure for this sale can be found here. Insiders sold 18,000 shares of company stock valued at $2,182,970 in the last three months. 0.90% of the stock is currently owned by company insiders.
CW has been the subject of several research analyst reports. Zacks Investment Research upgraded Curtiss-Wright from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Wednesday, May 15th. ValuEngine upgraded Curtiss-Wright from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Stifel Nicolaus upped their price target on Curtiss-Wright from $138.00 to $147.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $139.33.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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