Curtiss-Wright Corp. (CW) Reaches New 52-Week High at $90.50
Curtiss-Wright Corp. (NYSE:CW) hit a new 52-week high during trading on Tuesday . The stock traded as high as $90.50 and last traded at $90.06, with a volume of 40,850 shares changing hands. The stock had previously closed at $89.83.
Several brokerages recently commented on CW. William Blair initiated coverage on Curtiss-Wright Corp. in a research note on Wednesday, August 3rd. They issued a “market perform” rating and a $92.00 price target for the company. Zacks Investment Research raised Curtiss-Wright Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, August 18th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $95.00 target price (up previously from $89.00) on shares of Curtiss-Wright Corp. in a research report on Monday, June 13th.
The company has a market capitalization of $3.99 billion and a PE ratio of 23.39. The stock has a 50 day moving average price of $87.61 and a 200 day moving average price of $79.60.
Curtiss-Wright Corp. (NYSE:CW) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.81 by $0.07. During the same period last year, the company earned $0.83 earnings per share. The company earned $532.80 million during the quarter, compared to analysts’ expectations of $523.84 million. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts forecast that Curtiss-Wright Corp. will post $4.10 EPS for the current fiscal year.
In other news, Director William W. Dr Sihler sold 797 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $82.06, for a total value of $65,401.82. Following the completion of the sale, the director now directly owns 7,521 shares of the company’s stock, valued at $617,173.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Allen Kozinski sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $87.20, for a total value of $436,000.00. Following the completion of the sale, the director now directly owns 20,874 shares of the company’s stock, valued at $1,820,212.80. The disclosure for this sale can be found here.
Several hedge funds have modified their holdings of the stock. Jennison Associates LLC increased its stake in shares of Curtiss-Wright Corp. by 0.9% in the fourth quarter. Jennison Associates LLC now owns 838,270 shares of the company’s stock worth $57,421,000 after buying an additional 7,871 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Curtiss-Wright Corp. by 2.1% in the fourth quarter. Principal Financial Group Inc. now owns 308,502 shares of the company’s stock worth $21,133,000 after buying an additional 6,443 shares during the last quarter. Finally, Royce & Associates LLC increased its stake in shares of Curtiss-Wright Corp. by 70.0% in the fourth quarter. Royce & Associates LLC now owns 34,000 shares of the company’s stock worth $2,329,000 after buying an additional 14,000 shares during the last quarter.
Curtiss-Wright Corporation is a provider of engineered products and services to the commercial, defense, energy and industrial markets. The Company operates through three segments: Commercial/Industrial, which provides a diversified offering of engineered products and services supporting applications primarily across the commercial aerospace and general industrial markets; Defense, which consists of businesses that primarily provide products to the defense markets and to the commercial aerospace market, and Power, which consists of businesses that primarily provide products to the power generation markets and to the naval defense market.
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