Pallas Capital Advisors LLC Takes Position in Curtiss-Wright Corporation $CW

Pallas Capital Advisors LLC acquired a new stake in Curtiss-Wright Corporation (NYSE:CW) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,592 shares of the aerospace company’s stock, valued at approximately $1,964,000.

Other hedge funds have also added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in Curtiss-Wright during the 2nd quarter worth approximately $101,511,000. Perigon Wealth Management LLC acquired a new position in shares of Curtiss-Wright during the second quarter worth $569,000. Rice Hall James & Associates LLC acquired a new position in shares of Curtiss-Wright during the second quarter worth $1,168,000. Trust Co. of Vermont bought a new stake in shares of Curtiss-Wright in the second quarter worth $61,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Curtiss-Wright in the second quarter worth $124,673,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CW has been the subject of several analyst reports. Wall Street Zen lowered Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday. Robert W. Baird set a $870.00 price target on Curtiss-Wright in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a research note on Wednesday, August 12th. Stifel Nicolaus raised their price objective on Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a research report on Monday, July 20th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $782.50.

Curtiss-Wright Trading Down 0.9%

NYSE CW opened at $693.26 on Tuesday. The business has a 50 day simple moving average of $741.07 and a 200 day simple moving average of $716.25. Curtiss-Wright Corporation has a one year low of $465.51 and a one year high of $808.16. The stock has a market capitalization of $25.60 billion, a P/E ratio of 47.71, a P/E/G ratio of 3.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12.

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 return on equity of 20.49% and a net margin of 14.81%.The business had revenue of $924.01 million during the quarter, compared to the consensus estimate of $926.17 million. During the same period in the previous year, the company posted $3.23 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts expect that Curtiss-Wright Corporation will post 15.28 earnings per share for the current year.

Insider Activity

In related news, VP Gary A. Ogilby sold 399 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the transaction, the vice president directly owned 2,172 shares of the company’s stock, valued at $1,568,075.40. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the completion of the sale, 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 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 3,119 shares of company stock worth $2,257,998 in the last quarter. 0.51% of the stock is owned by corporate 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.