Curtiss-Wright Corporation (NYSE:CW – Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $760.93 and last traded at $761.8090, with a volume of 125132 shares. The stock had previously closed at $719.02.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Citigroup lifted their target price on shares of Curtiss-Wright from $728.00 to $775.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Morgan Stanley restated an “overweight” rating and set a $760.00 target price on shares of Curtiss-Wright in a research report on Friday, February 13th. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Finally, Robert W. Baird set a $870.00 target price on shares of Curtiss-Wright in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $746.67.
Check Out Our Latest Stock Report on CW
Curtiss-Wright Trading Up 0.1%
Curtiss-Wright (NYSE:CW – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. The business had revenue of $913.69 million during the quarter, compared to analyst estimates of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The company’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.82 earnings per share. Equities analysts expect that Curtiss-Wright Corporation will post 15.15 earnings per share for the current year.
Curtiss-Wright Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright’s payout ratio is currently 7.03%.
Insiders Place Their Bets
In related news, COO Kevin Rayment sold 907 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $677.38, for a total value of $614,383.66. Following the completion of the sale, the chief operating officer directly owned 31,493 shares in the company, valued at approximately $21,332,728.34. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO K Christopher Farkas sold 918 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $677.46, for a total transaction of $621,908.28. Following the completion of the sale, the chief financial officer owned 5,518 shares of the company’s stock, valued at approximately $3,738,224.28. The trade was a 14.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,080 shares of company stock valued at $6,297,278. 0.51% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Curtiss-Wright
A number of institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in Curtiss-Wright by 1.2% in the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after purchasing an additional 16,962 shares during the period. Invesco Ltd. grew its holdings in 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 purchasing an additional 88,688 shares during the period. Geode Capital Management LLC grew its holdings in Curtiss-Wright by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock valued at $464,130,000 after purchasing an additional 47,287 shares during the period. TD Asset Management Inc grew its holdings in Curtiss-Wright by 0.3% in the third quarter. TD Asset Management Inc now owns 791,531 shares of the aerospace company’s stock valued at $429,754,000 after purchasing an additional 2,153 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Curtiss-Wright by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company’s stock worth $423,519,000 after buying an additional 39,515 shares during the period. 82.71% of the stock is currently owned by hedge funds and other institutional investors.
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.
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