Van ECK Associates Corp Sells 68,972 Shares of Curtiss-Wright Corporation $CW

Van ECK Associates Corp lowered its stake in Curtiss-Wright Corporation (NYSE:CW) by 10.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 585,598 shares of the aerospace company’s stock after selling 68,972 shares during the period. Van ECK Associates Corp’s holdings in Curtiss-Wright were worth $443,743,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CW. Quantbot Technologies LP bought a new position in shares of Curtiss-Wright in the 2nd quarter valued at approximately $30,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Curtiss-Wright during the second quarter worth approximately $30,000. Fiduciary Financial Advisors acquired a new position in Curtiss-Wright during the second quarter valued at approximately $31,000. Elevation Wealth Partners LLC grew its holdings in Curtiss-Wright by 237.5% during the second quarter. Elevation Wealth Partners LLC now owns 54 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 38 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC bought a new position in shares of Curtiss-Wright in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Stock Down 1.4%

Shares of CW stock opened at $597.28 on Friday. Curtiss-Wright Corporation has a 12 month low of $465.51 and a 12 month high of $808.16. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. The firm has a market cap of $22.06 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87. The stock has a 50 day moving average of $718.27 and a 200-day moving average of $714.61.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company posted $3.23 earnings per share. Curtiss-Wright’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Curtiss-Wright Corporation will post 15.28 EPS for the current year.

Insiders Place Their Bets

In related news, 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 in the company, valued at approximately $1,568,075.40. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of Curtiss-Wright stock in a transaction dated 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 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 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 have sold 3,934 shares of company stock worth $2,733,499 in the last ninety days. Insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

CW has been the subject of a number of analyst reports. Wall Street Zen cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Stifel Nicolaus lifted their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a report on Wednesday, August 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $860.00 price target on shares of Curtiss-Wright in a research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $782.50.

Curtiss-Wright Company Profile

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.