Curtiss-Wright (NYSE:CW) Hits New 12-Month High – Here’s What Happened

Curtiss-Wright Corporation (NYSE:CW) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $719.05 and last traded at $698.1310, with a volume of 221801 shares trading hands. The stock had previously closed at $712.45.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Citigroup lifted their price objective on Curtiss-Wright from $661.00 to $718.00 and gave the stock a “neutral” rating in a research report on Friday, February 13th. Morgan Stanley restated an “overweight” rating and issued a $760.00 target price on shares of Curtiss-Wright in a report on Friday, February 13th. Stifel Nicolaus lifted their price target on Curtiss-Wright from $625.00 to $650.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Finally, Truist Financial set a $603.00 price objective on shares of Curtiss-Wright in a report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $663.17.

Curtiss-Wright Stock Down 2.0%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.44. The firm has a market capitalization of $25.74 billion, a PE ratio of 54.24, a P/E/G ratio of 3.47 and a beta of 0.93. The business’s 50 day moving average price is $631.65 and its 200-day moving average price is $568.02.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.66 by $0.13. The firm had revenue of $946.98 million for the quarter, compared to analyst estimates of $890.14 million. Curtiss-Wright had a return on equity of 19.28% and a net margin of 13.84%.Curtiss-Wright’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.27 EPS. As a group, equities research analysts forecast that Curtiss-Wright Corporation will post 12.32 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 26th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.46%.

Insider Buying and Selling

In related news, VP Gary A. Ogilby sold 625 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $624.32, for a total value of $390,200.00. Following the completion of the transaction, the vice president directly owned 2,571 shares of the company’s stock, valued at $1,605,126.72. This represents a 19.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert F. Freda sold 418 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $626.95, for a total transaction of $262,065.10. Following the sale, the vice president directly owned 5,187 shares in the company, valued at approximately $3,251,989.65. The trade was a 7.46% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,269 shares of company stock worth $10,797,098. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp acquired a new stake in shares of Curtiss-Wright during the third quarter worth about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in Curtiss-Wright in the 2nd quarter valued at $27,000. Cary Street Partners Investment Advisory LLC purchased a new position in Curtiss-Wright during the 4th quarter worth $31,000. Penserra Capital Management LLC acquired a new stake in shares of Curtiss-Wright in the 2nd quarter worth $29,000. Finally, Larson Financial Group LLC increased its stake in shares of Curtiss-Wright by 53.8% during the third quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 21 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.

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.