Hsbc Holdings PLC Buys 11,660 Shares of Curtiss-Wright Corporation $CW

Hsbc Holdings PLC boosted its stake in Curtiss-Wright Corporation (NYSE:CW) by 53.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,414 shares of the aerospace company’s stock after purchasing an additional 11,660 shares during the quarter. Hsbc Holdings PLC’s holdings in Curtiss-Wright were worth $18,608,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a report on Friday, May 8th. Stifel Nicolaus set a $724.00 price objective on shares of Curtiss-Wright in a report on Friday, May 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Finally, Citigroup upped their target price on shares of Curtiss-Wright from $728.00 to $775.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $746.67.

Curtiss-Wright Trading Down 0.4%

NYSE CW opened at $761.98 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $736.44 and a 200 day simple moving average of $677.60. Curtiss-Wright Corporation has a 12 month low of $463.00 and a 12 month high of $800.00. The firm has a market capitalization of $28.15 billion, a P/E ratio of 55.82, a PEG ratio of 3.55 and a beta of 0.85.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.16. The firm had revenue of $913.69 million during the quarter, compared to analyst estimates of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.82 EPS. On average, analysts predict that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

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

Insider Buying and Selling at Curtiss-Wright

In other 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 transaction, the chief executive officer owned 48,134 shares in the company, valued at $34,739,270.48. The trade was a 4.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 directly owned 2,172 shares of the company’s stock, valued at approximately $1,568,075.40. This represents a 15.52% 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. In the last 90 days, insiders sold 3,119 shares of company stock worth $2,257,998. Insiders own 0.51% of the company’s stock.

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.