Curtiss-Wright (NYSE:CW) Sets New 1-Year High – Here’s What Happened

Curtiss-Wright Corporation (NYSE:CW) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $714.95 and last traded at $709.8750, with a volume of 41808 shares trading hands. The stock had previously closed at $702.55.

Wall Street Analyst Weigh In

CW has been the topic of a number of research reports. Citigroup lifted their price target on shares of Curtiss-Wright from $661.00 to $718.00 and gave the company a “neutral” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $748.00 target price on shares of Curtiss-Wright in a research note on Tuesday. Weiss Ratings reissued a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Wall Street Zen raised Curtiss-Wright from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Stifel Nicolaus lifted their target price on Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Curtiss-Wright presently has an average rating of “Moderate Buy” and a consensus price target of $663.17.

Curtiss-Wright Stock Performance

The company has a market capitalization of $26.09 billion, a price-to-earnings ratio of 54.99, a P/E/G ratio of 3.45 and a beta of 0.93. The stock’s 50 day moving average price is $621.89 and its 200 day moving average price is $563.43. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.30.

Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.13. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.The business had revenue of $946.98 million for the quarter, compared to analyst estimates of $890.14 million. During the same quarter in the prior year, the company posted $3.27 earnings per share. Curtiss-Wright’s revenue was up 14.9% on a year-over-year basis. Analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 26th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is currently 7.46%.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 9,327 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $626.45, for a total transaction of $5,842,899.15. Following the sale, the chief executive officer directly owned 46,192 shares of the company’s stock, valued at approximately $28,936,978.40. This represents a 16.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Kevin Rayment sold 2,634 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,649,753.22. Following the completion of the sale, the chief operating officer owned 29,896 shares of the company’s stock, valued at approximately $18,724,761.68. This represents a 8.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,269 shares of company stock valued at $10,797,098 in the last 90 days. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

A number of institutional investors have recently bought and sold shares of the business. Invesco Ltd. lifted its position in shares of Curtiss-Wright by 7.9% in the fourth quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company’s stock valued at $671,231,000 after buying an additional 88,688 shares during the last quarter. Corient Private Wealth LLC raised its stake in Curtiss-Wright by 6,169.8% in the 4th quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company’s stock valued at $224,108,000 after acquiring an additional 400,047 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Curtiss-Wright by 52.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,523 shares of the aerospace company’s stock valued at $5,250,000 after purchasing an additional 3,263 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in Curtiss-Wright during the fourth quarter worth $251,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Curtiss-Wright in the fourth quarter valued at $792,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Company 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.