Curtiss-Wright (NYSE:CW) Sets New 12-Month High on Earnings Beat

Curtiss-Wright Corporation (NYSE:CW) reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $709.72 and last traded at $709.2120, with a volume of 75662 shares traded. The stock had previously closed at $634.25.

The aerospace company reported $3.79 EPS for the quarter, topping the consensus estimate of $3.66 by $0.13. Curtiss-Wright had a return on equity of 18.82% and a net margin of 13.78%.The company had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. During the same period in the previous year, the business posted $3.27 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 26th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright’s payout ratio is presently 7.82%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CW shares. Stifel Nicolaus set a $625.00 price target on Curtiss-Wright in a research note on Friday, January 23rd. Citigroup boosted their price objective on Curtiss-Wright from $607.00 to $661.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Truist Financial set a $603.00 target price on Curtiss-Wright in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Finally, Wall Street Zen raised shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Curtiss-Wright has an average rating of “Moderate Buy” and an average price target of $612.33.

Insider Buying and Selling

In related news, VP Robert F. Freda sold 418 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.95, for a total transaction of $262,065.10. Following the transaction, the vice president owned 5,187 shares in the company, valued at $3,251,989.65. This represents a 7.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gary A. Ogilby sold 625 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $624.32, for a total transaction of $390,200.00. Following the completion of the sale, the vice president directly owned 2,571 shares of the company’s stock, valued at approximately $1,605,126.72. This represents a 19.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,269 shares of company stock valued at $10,797,098 in the last 90 days. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of Curtiss-Wright

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Curtiss-Wright by 1.2% in the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after buying an additional 16,962 shares during the period. Geode Capital Management LLC grew its holdings in Curtiss-Wright by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock worth $464,130,000 after acquiring an additional 47,287 shares during the period. TD Asset Management Inc raised its position in shares of Curtiss-Wright by 0.3% during the 3rd quarter. TD Asset Management Inc now owns 791,531 shares of the aerospace company’s stock valued at $429,754,000 after acquiring an additional 2,153 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Curtiss-Wright by 5.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company’s stock valued at $423,519,000 after purchasing an additional 39,515 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Curtiss-Wright by 5.3% in the 3rd quarter. Van ECK Associates Corp now owns 740,033 shares of the aerospace company’s stock worth $401,794,000 after purchasing an additional 37,069 shares during the last quarter. 82.71% of the stock is owned by institutional investors.

Curtiss-Wright Trading Up 10.5%

The business has a 50 day moving average of $602.35 and a 200 day moving average of $553.94. The firm has a market capitalization of $25.85 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 2.94 and a beta of 0.93. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.75 and a quick ratio of 1.17.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.