Primecap Management Co. CA Makes New $390.11 Million Investment in Curtiss-Wright Corporation $CW

Primecap Management Co. CA bought a new stake in shares of Curtiss-Wright Corporation (NYSE:CW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 514,815 shares of the aerospace company’s stock, valued at approximately $390,106,000.

Several other hedge funds have also recently modified their holdings of the business. Quantbot Technologies LP bought a new position in shares of Curtiss-Wright during the second quarter valued at approximately $30,000. Cary Street Partners Investment Advisory LLC bought a new position in Curtiss-Wright in the fourth quarter worth approximately $31,000. Fiduciary Financial Advisors bought a new position in Curtiss-Wright in the second quarter worth approximately $31,000. Larson Financial Group LLC lifted its holdings in Curtiss-Wright by 53.8% during the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock worth $33,000 after buying an additional 21 shares during the period. Finally, Transamerica Financial Advisors LLC lifted its holdings in Curtiss-Wright by 25.9% during the fourth 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 period. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Analyst Ratings Changes

CW has been the topic of several recent research reports. Weiss Ratings raised Curtiss-Wright from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Stifel Nicolaus boosted their price target on Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a research report on Monday, July 20th. Citigroup upped their price objective on Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on Curtiss-Wright in a research report on Wednesday, August 12th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $860.00 target price 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, Curtiss-Wright currently has an average rating of “Moderate Buy” and a consensus target price of $782.50.

Curtiss-Wright Price Performance

Shares of CW opened at $609.52 on Wednesday. The company has a 50 day moving average of $728.62 and a two-hundred day moving average of $715.75. 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 twelve month low of $465.51 and a twelve month high of $808.16. The company has a market cap of $22.51 billion, a price-to-earnings ratio of 41.95, a price-to-earnings-growth ratio of 2.77 and a beta of 0.87.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.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 prior year, the firm posted $3.23 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, analysts predict that Curtiss-Wright Corporation will post 15.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Curtiss-Wright

In related news, CEO Lynn M. Bamford sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total transaction of $1,804,300.00. Following the transaction, the chief executive officer directly owned 48,134 shares of the company’s stock, valued at $34,739,270.48. This represents a 4.94% decrease in their position. The sale 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, VP Gary A. Ogilby sold 399 shares of the stock in a transaction dated 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 sale, 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. 0.51% of the stock is owned by insiders.

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.