Truist Financial Cuts Curtiss-Wright (NYSE:CW) Price Target to $338.00

Curtiss-Wright (NYSE:CW) had its target price lowered by Truist Financial from $357.00 to $338.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the aerospace company’s stock.

A number of other equities research analysts have also issued reports on the company. Citigroup dropped their target price on Curtiss-Wright from $450.00 to $424.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Stifel Nicolaus decreased their price target on shares of Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.43.

Curtiss-Wright Stock Performance

Shares of NYSE:CW opened at $318.51 on Thursday. The firm’s 50 day simple moving average is $318.90 and its 200 day simple moving average is $345.30. Curtiss-Wright has a fifty-two week low of $249.14 and a fifty-two week high of $393.40. The company has a market capitalization of $11.99 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.48 and a beta of 1.03. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.69 and a quick ratio of 1.19.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, February 12th. The aerospace company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.15. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. As a group, sell-side analysts forecast that Curtiss-Wright will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 14th. Investors of record on Thursday, March 27th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, March 27th. This represents a $0.84 dividend on an annualized basis and a yield of 0.26%. Curtiss-Wright’s dividend payout ratio is currently 7.96%.

Insiders Place Their Bets

In related news, insider Paul J. Ferdenzi sold 658 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $325.68, for a total value of $214,297.44. Following the completion of the sale, the insider now directly owns 19,239 shares in the company, valued at $6,265,757.52. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP George P. Mcdonald sold 148 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $325.41, for a total value of $48,160.68. Following the transaction, the vice president now directly owns 1,899 shares of the company’s stock, valued at approximately $617,953.59. This represents a 7.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,797 shares of company stock valued at $7,436,255 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

A number of hedge funds have recently made changes to their positions in the stock. Cardinal Capital Management raised its holdings in Curtiss-Wright by 1.4% during the 1st quarter. Cardinal Capital Management now owns 11,975 shares of the aerospace company’s stock worth $3,802,000 after purchasing an additional 161 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Curtiss-Wright by 7.8% during the 1st quarter. QRG Capital Management Inc. now owns 720 shares of the aerospace company’s stock valued at $228,000 after purchasing an additional 52 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Curtiss-Wright in the first quarter worth approximately $240,000. Janney Montgomery Scott LLC boosted its holdings in shares of Curtiss-Wright by 37.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,652 shares of the aerospace company’s stock worth $1,159,000 after buying an additional 999 shares in the last quarter. Finally, Mission Wealth Management LP acquired a new stake in shares of Curtiss-Wright during the 1st quarter worth approximately $206,000. 82.71% of the stock is currently owned by institutional investors.

Curtiss-Wright Company Profile

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