Curtiss-Wright Corp. (CW) Hits New 12-Month High at $90.07
Curtiss-Wright Corp. (NYSE:CW) shares reached a new 52-week high during trading on Friday . The company traded as high as $90.07 and last traded at $89.62, with a volume of 53,373 shares changing hands. The stock had previously closed at $89.09.
A number of research analysts have commented on CW shares. Zacks Investment Research raised shares of Curtiss-Wright Corp. from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research report on Wednesday, June 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $95.00 target price (up previously from $89.00) on shares of Curtiss-Wright Corp. in a research report on Monday, June 13th. Finally, William Blair started coverage on shares of Curtiss-Wright Corp. in a research report on Wednesday. They issued a “market perform” rating and a $92.00 target price on the stock.
The firm has a market cap of $3.99 billion and a P/E ratio of 23.41. The stock has a 50 day moving average price of $85.07 and a 200 day moving average price of $77.36.
Curtiss-Wright Corp. (NYSE:CW) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.07. During the same quarter in the prior year, the business posted $0.83 EPS. The company had revenue of $532.80 million for the quarter, compared to analysts’ expectations of $523.84 million. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that Curtiss-Wright Corp. will post $4.10 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Thursday, June 23rd were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Tuesday, June 21st.
In related news, VP Tom P. Quinly sold 21,626 shares of Curtiss-Wright Corp. stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $86.24, for a total transaction of $1,865,026.24. Following the completion of the sale, the vice president now owns 57,384 shares in the company, valued at approximately $4,948,796.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Allen Kozinski sold 5,000 shares of Curtiss-Wright Corp. stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $87.20, for a total value of $436,000.00. Following the sale, the director now owns 20,874 shares of the company’s stock, valued at approximately $1,820,212.80. The disclosure for this sale can be found here.
A number of hedge funds recently bought and sold shares of the company. Marshall Wace LLP boosted its stake in Curtiss-Wright Corp. by 34.7% in the fourth quarter. Marshall Wace LLP now owns 211,811 shares of the company’s stock worth $14,509,000 after buying an additional 54,574 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Curtiss-Wright Corp. by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,394,331 shares of the company’s stock worth $164,018,000 after buying an additional 40,246 shares in the last quarter. State of Tennessee Treasury Department bought a new stake in Curtiss-Wright Corp. during the fourth quarter worth approximately $2,442,000. Royce & Associates LLC boosted its stake in 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 in the last quarter. Finally, Jennison Associates LLC boosted its stake in 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 in 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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