Curtiss-Wright (NYSE:CW) Shares Gap Down – What’s Next?

Curtiss-Wright Corporation (NYSE:CW) gapped down prior to trading on Wednesday. The stock had previously closed at $553.35, but opened at $523.45. Curtiss-Wright shares last traded at $517.0380, with a volume of 93,425 shares changing hands.

Analyst Ratings Changes

CW has been the topic of several analyst reports. Stifel Nicolaus increased their target price on Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Guggenheim began coverage on Curtiss-Wright in a research note on Monday, September 14th. They issued a “buy” rating and a $786.00 price target for the company. Piper Sandler assumed coverage on shares of Curtiss-Wright in a research report on Wednesday, September 2nd. They set a “neutral” rating and a $665.00 price objective for the company. Morgan Stanley reiterated an “overweight” rating and set a $860.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Finally, Citigroup raised their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the company a “neutral” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $768.25.

Curtiss-Wright Trading Down 7.7%

The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $18.87 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.44 and a beta of 0.88. The firm has a 50-day moving average of $614.29 and a two-hundred day moving average of $689.86.

Curtiss-Wright (NYSE:CW) last released its earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.10. The firm had revenue of $924.01 million for the quarter, compared to analysts’ expectations of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.23 earnings per share. On average, analysts anticipate that Curtiss-Wright Corporation will post 15.27 EPS for the current year.

Curtiss-Wright Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, September 25th. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s dividend payout ratio is 7.16%.

Insider Activity at Curtiss-Wright

In related news, EVP John Watts sold 1,035 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total transaction of $641,141.10. Following the completion of the transaction, the executive vice president directly owned 2,736 shares in the company, valued at $1,694,842.56. This represents a 27.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Larry D. Wyche sold 100 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $596.74, for a total transaction of $59,674.00. Following the completion of the transaction, the director directly owned 1,414 shares of the company’s stock, valued at approximately $843,790.36. The trade was a 6.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Curtiss-Wright

Several hedge funds have recently modified their holdings of CW. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Curtiss-Wright during the 2nd quarter worth $30,000. Quantbot Technologies LP bought a new position in Curtiss-Wright in the second quarter valued at about $30,000. Fiduciary Financial Advisors acquired a new stake in shares of Curtiss-Wright during the second quarter valued at about $31,000. Signature Equity Partners LLC boosted its stake in shares of Curtiss-Wright by 140.0% during the first quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 35 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in shares of Curtiss-Wright by 237.5% during the second quarter. Elevation Wealth Partners LLC now owns 54 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.