StockNews.com Downgrades Curtiss-Wright (NYSE:CW) to Buy

StockNews.com lowered shares of Curtiss-Wright (NYSE:CW) from a strong-buy rating to a buy rating in a report published on Tuesday.

Several other brokerages also recently issued reports on CW. Truist Financial reissued a hold rating and set a $240.00 price objective (down from $250.00) on shares of Curtiss-Wright in a research report on Monday, March 25th. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $244.00 to $255.00 and gave the stock a buy rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $238.00.

Curtiss-Wright Price Performance

Shares of NYSE:CW opened at $255.94 on Tuesday. Curtiss-Wright has a 12 month low of $157.72 and a 12 month high of $257.37. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.13 and a quick ratio of 1.50. The firm has a market capitalization of $9.80 billion, a P/E ratio of 27.82 and a beta of 1.17. The company’s fifty day moving average price is $236.37 and its 200 day moving average price is $219.00.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Thursday, February 15th. The aerospace company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.24. Curtiss-Wright had a net margin of 12.46% and a return on equity of 16.61%. The company had revenue of $785.79 million for the quarter, compared to the consensus estimate of $737.09 million. During the same period last year, the firm posted $2.92 EPS. Curtiss-Wright’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Curtiss-Wright will post 10.16 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Wednesday, March 27th. Curtiss-Wright’s payout ratio is 8.70%.

Insider Activity

In other news, VP Paul J. Ferdenzi sold 2,500 shares of Curtiss-Wright stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $240.00, for a total value of $600,000.00. Following the sale, the vice president now owns 17,383 shares of the company’s stock, valued at $4,171,920. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO K Christopher Farkas sold 925 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $243.55, for a total transaction of $225,283.75. Following the sale, the chief financial officer now owns 10,052 shares of the company’s stock, valued at $2,448,164.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul J. Ferdenzi sold 2,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $240.00, for a total transaction of $600,000.00. Following the sale, the vice president now directly owns 17,383 shares in the company, valued at approximately $4,171,920. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 145 shares of company stock valued at $27,451 and have sold 12,451 shares valued at $3,030,512. Insiders own 0.67% of the company’s stock.

Institutional Trading of Curtiss-Wright

Institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC boosted its holdings in Curtiss-Wright by 7.7% during the second quarter. Cetera Advisor Networks LLC now owns 3,523 shares of the aerospace company’s stock worth $647,000 after buying an additional 251 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Curtiss-Wright by 729.1% during the third quarter. Los Angeles Capital Management LLC now owns 20,428 shares of the aerospace company’s stock worth $3,996,000 after acquiring an additional 17,964 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Curtiss-Wright by 80.5% during the third quarter. Envestnet Asset Management Inc. now owns 69,463 shares of the aerospace company’s stock worth $13,589,000 after acquiring an additional 30,972 shares during the last quarter. Burney Co. raised its position in Curtiss-Wright by 14.9% during the third quarter. Burney Co. now owns 26,516 shares of the aerospace company’s stock worth $5,187,000 after acquiring an additional 3,437 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in Curtiss-Wright during the third quarter worth about $210,000. Hedge funds and other institutional investors own 82.71% of the company’s stock.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.