Sumitomo Life Insurance Co. Takes Position in Curtiss-Wright Corporation $CW

Sumitomo Life Insurance Co. acquired a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,062 shares of the aerospace company’s stock, valued at approximately $2,320,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its position 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. Cary Street Partners Investment Advisory LLC purchased a new stake in Curtiss-Wright during the 4th quarter valued at $31,000. Larson Financial Group LLC lifted its holdings in shares of Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock valued at $33,000 after buying an additional 21 shares during the period. Signature Equity Partners LLC lifted its holdings in shares of Curtiss-Wright by 140.0% during the 1st quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company’s stock valued at $41,000 after buying an additional 35 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its stake in shares of Curtiss-Wright by 25.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company’s stock worth $40,000 after buying an additional 15 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Trading Down 2.1%

Shares of CW stock opened at $634.55 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12. The company has a market cap of $23.43 billion, a price-to-earnings ratio of 43.67, a PEG ratio of 2.92 and a beta of 0.87. Curtiss-Wright Corporation has a 1 year low of $465.51 and a 1 year high of $808.16. The firm has a fifty day moving average price of $734.68 and a 200-day moving average price of $715.90.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.10. The company had revenue of $924.01 million for the quarter, compared to analysts’ expectations of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.Curtiss-Wright’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $3.23 EPS. As a group, equities analysts predict that Curtiss-Wright Corporation will post 15.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP John C. Watts sold 220 shares of Curtiss-Wright stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the transaction, the executive vice president directly owned 3,962 shares of the company’s stock, valued at $2,983,029.42. The trade was a 5.26% decrease in their position. The transaction 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 business’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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,119 shares of company stock worth $2,257,998 over the last quarter. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CW has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on Curtiss-Wright in a report on Wednesday, August 12th. Morgan Stanley reissued an “overweight” rating and issued a $860.00 target price on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Weiss Ratings downgraded Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Wall Street Zen lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Robert W. Baird set a $870.00 price objective on shares of Curtiss-Wright in a research note on Friday, May 8th. 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, Curtiss-Wright currently has an average rating of “Moderate Buy” and a consensus price target of $782.50.

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.