Curtiss-Wright Co. (NYSE:CW) Plans Dividend Increase – $0.19 Per Share

Curtiss-Wright Co. (NYSE:CW – Get Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Investors of record on Friday, June 17th will be given a dividend of 0.19 per share by the aerospace company on Friday, July 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, June 16th. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.18.

Curtiss-Wright has increased its dividend by an average of 5.8% per year over the last three years and has raised its dividend every year for the last 1 years. Curtiss-Wright has a payout ratio of 8.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Curtiss-Wright to earn $8.73 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 8.2%.

CW opened at $137.87 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.08. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 22.31 and a beta of 1.37. The firm has a 50 day simple moving average of $149.25 and a 200 day simple moving average of $139.96. Curtiss-Wright has a fifty-two week low of $111.26 and a fifty-two week high of $162.98.

Curtiss-Wright (NYSE:CW – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The aerospace company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.11. The business had revenue of $559.46 million during the quarter, compared to the consensus estimate of $579.97 million. Curtiss-Wright had a net margin of 10.06% and a return on equity of 15.35%. Curtiss-Wright’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.51 earnings per share. As a group, analysts expect that Curtiss-Wright will post 8.2 EPS for the current year.

CW has been the subject of several recent analyst reports. Berenberg Bank initiated coverage on shares of Curtiss-Wright in a research note on Friday, January 21st. They issued a “buy” rating and a $170.00 target price for the company. Morgan Stanley upped their target price on shares of Curtiss-Wright from $180.00 to $189.00 and gave the company an “overweight” rating in a research note on Tuesday, March 1st. Finally, StockNews.com downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Friday.

In other Curtiss-Wright news, Chairman David Charles Adams sold 4,262 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $137.25, for a total value of $584,959.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO K Christopher Farkas sold 435 shares of the firm’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $144.66, for a total transaction of $62,927.10. The disclosure for this sale can be found here. Insiders have sold 24,335 shares of company stock valued at $3,566,091 in the last three months. 0.62% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Curtiss-Wright during the 4th quarter worth about $281,000. Acadian Asset Management LLC acquired a new stake in shares of Curtiss-Wright during the 1st quarter worth about $308,000. APG Asset Management N.V. acquired a new stake in shares of Curtiss-Wright during the 1st quarter worth about $580,000. American Century Companies Inc. increased its position in Curtiss-Wright by 16.9% during the first quarter. American Century Companies Inc. now owns 4,094 shares of the aerospace company’s stock worth $614,000 after acquiring an additional 593 shares during the period. Finally, Cubist Systematic Strategies LLC increased its position in Curtiss-Wright by 60.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 4,876 shares of the aerospace company’s stock worth $676,000 after acquiring an additional 1,842 shares during the period. Institutional investors own 81.61% of the company’s stock.

Curtiss-Wright Company Profile (Get Rating)

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services to the aerospace, defense, general industrial, and power generation markets worldwide. worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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