Curtiss-Wright Corporation (CW) Downgraded 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 report issued 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. “
A number of other equities analysts also recently issued reports on the company. SunTrust Banks, Inc. raised Curtiss-Wright Corporation from a hold rating to a buy rating and increased their price target for the stock from $103.00 to $112.00 in a research report on Monday, June 5th. Stifel Nicolaus assumed coverage on Curtiss-Wright Corporation in a research report on Monday, September 18th. They set a hold rating and a $100.00 price objective on the stock. Finally, BidaskClub raised Curtiss-Wright Corporation from a sell rating to a hold rating in a research report on Tuesday, August 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Curtiss-Wright Corporation presently has a consensus rating of Hold and a consensus target price of $107.40.
Curtiss-Wright Corporation (NYSE CW) opened at 104.34 on Tuesday. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 23.67 and a beta of 1.26. Curtiss-Wright Corporation has a 52-week low of $82.77 and a 52-week high of $107.61. The stock has a 50 day moving average price of $96.82 and a 200 day moving average price of $93.00.
Curtiss-Wright Corporation (NYSE:CW) last posted its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $567.70 million for the quarter, compared to the consensus estimate of $546.73 million. During the same quarter in the prior year, the company earned $0.88 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. Analysts expect that Curtiss-Wright Corporation will post $4.55 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. This is an increase from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. Curtiss-Wright Corporation’s dividend payout ratio (DPR) is presently 11.79%.
In related news, Director S Marce Fuller sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total transaction of $125,008.00. Following 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 filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. boosted its position in Curtiss-Wright Corporation by 251.5% during the second quarter. Prudential Financial Inc. now owns 327,613 shares of the aerospace company’s stock valued at $30,068,000 after purchasing an additional 234,409 shares in the last quarter. World Asset Management Inc boosted its holdings in Curtiss-Wright Corporation by 1.8% in the first quarter. World Asset Management Inc now owns 2,716 shares of the aerospace company’s stock worth $248,000 after acquiring an additional 49 shares in the last quarter. Paloma Partners Management Co boosted its holdings in Curtiss-Wright Corporation by 12.8% in the first quarter. Paloma Partners Management Co now owns 36,450 shares of the aerospace company’s stock worth $3,327,000 after acquiring an additional 4,123 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in Curtiss-Wright Corporation in the first quarter worth about $233,000. Finally, Bank of Nova Scotia acquired a new stake in Curtiss-Wright Corporation in the first quarter worth about $13,689,000. 76.18% of the stock is currently owned by institutional investors.
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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