TimesSquare Capital Management LLC Invests $124.67 Million in Curtiss-Wright Corporation $CW

TimesSquare Capital Management LLC bought a new position in Curtiss-Wright Corporation (NYSE:CW) during the second quarter, Holdings Channel.com reports. The fund bought 164,528 shares of the aerospace company’s stock, valued at approximately $124,673,000. Curtiss-Wright accounts for approximately 1.8% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 9th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Curtiss-Wright during the second quarter worth approximately $33,157,000. Persistent Asset Partners Ltd bought a new position in shares of Curtiss-Wright in the second quarter valued at $63,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Curtiss-Wright during the 2nd quarter valued at $647,000. Plato Investment Management Ltd acquired a new stake in shares of Curtiss-Wright during the 2nd quarter valued at $1,428,000. Finally, AMG National Trust Bank bought a new stake in shares of Curtiss-Wright during the 2nd quarter worth $885,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Trading Down 0.9%

Shares of NYSE CW opened at $693.26 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. Curtiss-Wright Corporation has a one year low of $465.51 and a one year high of $808.16. The business has a 50-day moving average price of $741.07 and a two-hundred day moving average price of $716.25. The firm has a market capitalization of $25.60 billion, a PE ratio of 47.71, a PEG ratio of 3.15 and a beta of 0.87.

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, beating analysts’ consensus estimates of $3.62 by $0.10. The company had revenue of $924.01 million for the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.23 EPS. 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 other Curtiss-Wright news, VP Gary A. Ogilby sold 399 shares of the company’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 in the company, valued at approximately $1,568,075.40. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 on Wednesday, May 27th. The shares were sold at an average price of $752.91, for a total transaction of $165,640.20. Following the sale, the executive vice president directly owned 3,962 shares of the company’s stock, valued at $2,983,029.42. This trade represents a 5.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,119 shares of company stock worth $2,257,998. 0.51% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CW. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a research report on Wednesday, August 12th. Weiss Ratings downgraded Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Citigroup lifted their target price 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. Finally, Stifel Nicolaus upped their price target on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research report on Monday, July 20th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $782.50.

Curtiss-Wright 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.