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

Curtiss-Wright Co. (NYSE:CW)’s share price hit a new 52-week high on Thursday . The company traded as high as $471.75 and last traded at $470.94, with a volume of 338448 shares traded. The stock had previously closed at $456.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CW shares. Wall Street Zen lowered shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 24th. Stifel Nicolaus lowered their price target on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Robert W. Baird boosted their price objective on Curtiss-Wright from $432.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Citigroup upped their target price on Curtiss-Wright from $444.00 to $520.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Finally, Truist Financial dropped their price target on shares of Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $418.00.

Curtiss-Wright Trading Down 0.2%

The company has a 50 day simple moving average of $385.35 and a 200 day simple moving average of $357.67. The company has a market capitalization of $17.83 billion, a PE ratio of 44.88, a price-to-earnings-growth ratio of 2.48 and a beta of 1.14. 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 (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. 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 for the quarter, compared to analyst estimates of $767.32 million. During the same period 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 anticipate that Curtiss-Wright Co. will post 12.32 earnings per share for the current year.

Curtiss-Wright Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.24 per share. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.20%. Curtiss-Wright’s dividend payout ratio is presently 8.54%.

Insider Activity

In other Curtiss-Wright news, insider Paul J. Ferdenzi sold 658 shares of the firm’s 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 of the company’s stock, valued at $6,265,757.52. This trade represents a 3.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bruce D. Hoechner sold 1,900 shares of the firm’s 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 completion of the sale, the director now directly owns 4,523 shares of the company’s stock, valued at $2,026,304. This trade represents a 29.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,992 shares of company stock worth $4,634,519 over the last three months. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

Several institutional investors and hedge funds have recently bought and sold shares of the company. Inspire Investing LLC raised its position in shares of Curtiss-Wright by 1.7% during the 1st quarter. Inspire Investing LLC now owns 10,258 shares of the aerospace company’s stock valued at $3,255,000 after buying an additional 174 shares during the period. Strs Ohio acquired a new stake in Curtiss-Wright during the first quarter worth $3,651,000. Acadian Asset Management LLC increased its stake in Curtiss-Wright by 336.1% during the first quarter. Acadian Asset Management LLC now owns 5,046 shares of the aerospace company’s stock worth $1,599,000 after acquiring an additional 3,889 shares during the last quarter. Intech Investment Management LLC raised its position in Curtiss-Wright by 104.1% in the first quarter. Intech Investment Management LLC now owns 13,359 shares of the aerospace company’s stock valued at $4,238,000 after purchasing an additional 6,815 shares during the period. Finally, Flaharty Asset Management LLC acquired a new position in shares of Curtiss-Wright in the 1st quarter valued at $69,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

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.