Daiichi Life Insurance Co. Ltd. Makes New Investment in Curtiss-Wright Corporation $CW

Daiichi Life Insurance Co. Ltd. purchased a new stake in Curtiss-Wright Corporation (NYSE:CW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,705 shares of the aerospace company’s stock, valued at approximately $1,292,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Curtiss-Wright by 10.6% during the first quarter. Goldman Sachs Group Inc. now owns 213,101 shares of the aerospace company’s stock worth $67,611,000 after buying an additional 20,379 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Curtiss-Wright in the 2nd quarter valued at approximately $235,000. Northwestern Mutual Wealth Management Co. boosted its position in Curtiss-Wright by 53.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 35 shares during the last quarter. Marshall Wace LLP acquired a new position in Curtiss-Wright during the 2nd quarter worth approximately $5,423,000. Finally, Cresset Asset Management LLC grew its stake in shares of Curtiss-Wright by 46.4% during the 2nd quarter. Cresset Asset Management LLC now owns 1,442 shares of the aerospace company’s stock worth $705,000 after acquiring an additional 457 shares in the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Lynn M. Bamford sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the sale, the chief executive officer directly owned 48,134 shares in the company, valued at approximately $34,739,270.48. This trade represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $165,640.20. Following the transaction, the executive vice president 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,119 shares of company stock valued at $2,257,998 in the last quarter. Company insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CW. Citigroup boosted their price objective on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a research report on Wednesday, August 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a report on Wednesday, July 15th. 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, Curtiss-Wright currently has an average rating of “Moderate Buy” and an average target price of $782.50.

Curtiss-Wright Trading Down 0.1%

Shares of Curtiss-Wright stock opened at $634.55 on Monday. The stock has a market cap of $23.43 billion, a P/E ratio of 43.67, a P/E/G ratio of 2.86 and a beta of 0.87. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. Curtiss-Wright Corporation has a 12-month low of $465.51 and a 12-month high of $808.16. The business’s 50 day moving average is $734.68 and its 200-day moving average is $716.27.

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

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.