Curtiss-Wright (NYSE:CW) Price Target Raised to $568.00 at Citigroup

Curtiss-Wright (NYSE:CW) had its price target upped by Citigroup from $525.00 to $568.00 in a research report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

Other analysts have also issued research reports about the stock. Robert W. Baird lifted their price target on shares of Curtiss-Wright from $432.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Truist Financial dropped their price target on shares of Curtiss-Wright from $356.00 to $338.00 and set a “hold” rating for the company in a research note on Friday. Wall Street Zen raised shares of Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Stifel Nicolaus decreased their price objective on shares of Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $424.86.

Curtiss-Wright Trading Up 2.8%

CW opened at $486.74 on Monday. The firm has a market capitalization of $18.33 billion, a P/E ratio of 43.30, a P/E/G ratio of 2.99 and a beta of 1.15. The firm’s 50 day moving average is $446.23 and its 200-day moving average is $373.25. Curtiss-Wright has a 52-week low of $258.85 and a 52-week high of $493.95. The company has a quick ratio of 1.28, a current ratio of 1.89 and a debt-to-equity ratio of 0.37.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.39 by $0.43. The business had revenue of $805.65 million during the quarter, compared to analyst estimates of $767.32 million. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.99 earnings per share. Analysts expect that Curtiss-Wright will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 16th were issued a dividend of $0.24 per share. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 0.20%. Curtiss-Wright’s payout ratio is 8.54%.

Insider Activity

In related news, Director Bruce D. Hoechner sold 1,900 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the sale, the director owned 4,523 shares of the company’s stock, valued at $2,026,304. This represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO K Christopher Farkas sold 4,780 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $350.00, for a total transaction of $1,673,000.00. Following the completion of the sale, the chief financial officer directly owned 9,253 shares of the company’s stock, valued at $3,238,550. The trade was a 34.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,130 shares of company stock valued at $2,726,412. 0.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Curtiss-Wright

Several institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC boosted its position in shares of Curtiss-Wright by 1,566.7% during the 1st quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 94 shares in the last quarter. 1 North Wealth Services LLC bought a new stake in shares of Curtiss-Wright in the 1st quarter worth approximately $32,000. Minot DeBlois Advisors LLC bought a new stake in shares of Curtiss-Wright in the 4th quarter worth approximately $35,000. Private Trust Co. NA raised its holdings in shares of Curtiss-Wright by 13,800.0% in the 1st quarter. Private Trust Co. NA now owns 139 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 138 shares in the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of Curtiss-Wright in the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

About Curtiss-Wright

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.