Curtiss-Wright Corporation (NYSE:CW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “CURTISS-WRIGHT CORP. produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy. “
Several other research firms have also recently issued reports on CW. SunTrust Banks, Inc. upgraded shares of Curtiss-Wright Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $103.00 to $112.00 in a research report on Monday, June 5th. BidaskClub upgraded shares of Curtiss-Wright Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $107.25.
Curtiss-Wright Corporation (NYSE:CW) traded up 0.33% during trading on Tuesday, reaching $98.30. 119,734 shares of the company’s stock were exchanged. The company has a market cap of $4.34 billion, a P/E ratio of 22.30 and a beta of 1.26. Curtiss-Wright Corporation has a 12-month low of $82.77 and a 12-month high of $107.61. The stock’s 50-day moving average is $96.19 and its 200-day moving average is $92.86.
Curtiss-Wright Corporation (NYSE:CW) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.16. The firm had revenue of $567.70 million for the quarter, compared to analysts’ expectations of $546.73 million. Curtiss-Wright Corporation had a net margin of 9.14% and a return on equity of 14.79%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. Analysts predict that Curtiss-Wright Corporation will post $4.55 EPS for the current fiscal year.
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In related news, Director S Marce Fuller sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $96.16, for a total value of $125,008.00. Following the completion of the transaction, the director now directly owns 14,960 shares of the company’s stock, valued at $1,438,553.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Curtiss-Wright Corporation by 0.6% during the second quarter. BlackRock Inc. now owns 5,130,026 shares of the aerospace company’s stock worth $470,833,000 after buying an additional 30,422 shares during the period. Vanguard Group Inc. boosted its stake in Curtiss-Wright Corporation by 10.2% during the first quarter. Vanguard Group Inc. now owns 3,583,354 shares of the aerospace company’s stock worth $327,018,000 after buying an additional 331,982 shares during the period. State Street Corp boosted its stake in Curtiss-Wright Corporation by 5.8% during the second quarter. State Street Corp now owns 1,776,207 shares of the aerospace company’s stock worth $163,017,000 after buying an additional 97,137 shares during the period. Northern Trust Corp boosted its stake in Curtiss-Wright Corporation by 1.5% during the second quarter. Northern Trust Corp now owns 1,241,364 shares of the aerospace company’s stock worth $113,933,000 after buying an additional 17,769 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Curtiss-Wright Corporation by 38.5% during the first quarter. AQR Capital Management LLC now owns 1,024,532 shares of the aerospace company’s stock worth $93,499,000 after buying an additional 285,005 shares during the period. 76.62% of the stock is owned by institutional investors.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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