Curtiss-Wright Corporation (CW) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Curtiss-Wright Corporation (NYSE:CW) from a buy rating to a hold rating in a research note published on Tuesday.
According to Zacks, “CURTISS-WRIGHT CORP. produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy. “
Several other research analysts have also commented on CW. SunTrust Banks, Inc. raised Curtiss-Wright Corporation from a hold rating to a buy rating and boosted their price objective for the stock from $103.00 to $112.00 in a report on Monday, June 5th. BidaskClub raised Curtiss-Wright Corporation from a sell rating to a hold rating in a research note on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Curtiss-Wright Corporation presently has a consensus rating of Hold and an average price target of $107.75.
Shares of Curtiss-Wright Corporation (NYSE:CW) traded up 1.81% on Tuesday, reaching $101.64. 178,972 shares of the company were exchanged. Curtiss-Wright Corporation has a 12-month low of $82.77 and a 12-month high of $107.61. The stock’s 50-day moving average is $96.45 and its 200 day moving average is $93.00. The firm has a market capitalization of $4.49 billion, a PE ratio of 23.06 and a beta of 1.26.
Curtiss-Wright Corporation (NYSE:CW) last issued its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.16. Curtiss-Wright Corporation had a return on equity of 14.79% and a net margin of 9.14%. The company had revenue of $567.70 million during the quarter, compared to analyst estimates of $546.73 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Curtiss-Wright Corporation’s revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that Curtiss-Wright Corporation will post $4.55 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be paid a $0.15 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.60 annualized dividend and a yield of 0.60%. This is a positive change from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. Curtiss-Wright Corporation’s dividend payout ratio is currently 11.79%.
In other Curtiss-Wright Corporation news, Director S Marce Fuller sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total value of $125,008.00. Following the completion of the sale, the director now owns 14,960 shares of the company’s stock, valued at $1,438,553.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CW. Meadow Creek Investment Management LLC boosted its stake in Curtiss-Wright Corporation by 7.3% in the first quarter. Meadow Creek Investment Management LLC now owns 1,408 shares of the aerospace company’s stock worth $129,000 after buying an additional 96 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Curtiss-Wright Corporation by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the aerospace company’s stock worth $152,000 after buying an additional 143 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in Curtiss-Wright Corporation by 7.3% in the first quarter. Neuburgh Advisers LLC now owns 1,936 shares of the aerospace company’s stock worth $177,000 after buying an additional 132 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in Curtiss-Wright Corporation by 93.2% in the second quarter. Harbour Capital Advisors LLC now owns 16,520 shares of the aerospace company’s stock worth $180,000 after buying an additional 7,970 shares in the last quarter. Finally, Burney Co. purchased a new stake in Curtiss-Wright Corporation in the second quarter worth approximately $203,000. 76.62% of the stock is owned by institutional investors and hedge funds.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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