Curtiss-Wright (NYSE:CW) Price Target Raised to $520.00

Curtiss-Wright (NYSE:CW) had its target price lifted by Citigroup from $444.00 to $520.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Several other equities analysts have also recently issued reports on the company. Truist Financial reduced their target price on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Wall Street Zen cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 24th. Stifel Nicolaus reduced their target price on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Finally, Robert W. Baird boosted their target price on Curtiss-Wright from $432.00 to $500.00 and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $418.00.

Curtiss-Wright Stock Performance

Shares of CW stock opened at $470.94 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.19 and a current ratio of 1.69. Curtiss-Wright has a fifty-two week low of $258.85 and a fifty-two week high of $471.75. The stock has a 50 day moving average price of $378.00 and a two-hundred day moving average price of $356.28. The company has a market capitalization of $17.74 billion, a P/E ratio of 44.64, a PEG ratio of 2.48 and a beta of 1.14.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a return on equity of 17.11% and a net margin of 12.98%. The firm had revenue of $805.65 million during the quarter, compared to the consensus estimate of $767.32 million. During the same quarter in the previous year, the company posted $1.99 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. Analysts expect that Curtiss-Wright will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.20%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 16th. Curtiss-Wright’s dividend payout ratio is presently 8.54%.

Insider Buying and Selling

In other news, Director Bruce D. Hoechner sold 1,900 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the sale, the director now directly owns 4,523 shares of the company’s stock, valued at approximately $2,026,304. This represents a 29.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lynn M. Bamford sold 3,131 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $325.41, for a total value of $1,018,858.71. Following the completion of the sale, the chief executive officer now directly owns 42,887 shares in the company, valued at approximately $13,955,858.67. This represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,992 shares of company stock valued at $4,634,519 over the last ninety days. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Curtiss-Wright

A number of institutional investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. increased its position in Curtiss-Wright by 0.9% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,319 shares of the aerospace company’s stock worth $1,178,000 after buying an additional 29 shares in the last quarter. Harbour Investments Inc. increased its position in Curtiss-Wright by 10.6% in the fourth quarter. Harbour Investments Inc. now owns 312 shares of the aerospace company’s stock worth $111,000 after buying an additional 30 shares in the last quarter. Cornerstone Investment Partners LLC increased its position in Curtiss-Wright by 3.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 918 shares of the aerospace company’s stock worth $326,000 after buying an additional 32 shares in the last quarter. Ascent Group LLC increased its position in Curtiss-Wright by 4.9% in the fourth quarter. Ascent Group LLC now owns 713 shares of the aerospace company’s stock worth $253,000 after buying an additional 33 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in Curtiss-Wright by 1.6% in the fourth quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company’s stock worth $753,000 after buying an additional 34 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other 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.