Curtiss-Wright (NYSE:CW) Stock Gets Price Target Trim from Citigroup

Curtiss-Wright (NYSE:CW) had its target price lowered by Citigroup from $622.00 to $505.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the aerospace company’s stock.

A number of other brokerages have also commented on CW. Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Stifel Nicolaus lowered their price objective on shares of Curtiss-Wright from $518.00 to $472.00 and set a “hold” rating for the company in a research report on Monday. Wall Street Zen downgraded shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Deutsche Bank set a $801.00 target price on shares of Curtiss-Wright in a research report on Wednesday, August 12th. Finally, Guggenheim decreased their price target on shares of Curtiss-Wright from $786.00 to $674.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Curtiss-Wright presently has an average rating of “Hold” and an average target price of $636.75.

Curtiss-Wright Stock Down 0.5%

Shares of NYSE:CW opened at $476.93 on Tuesday. The company’s fifty day moving average is $517.32 and its 200-day moving average is $660.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 1.42. Curtiss-Wright has a 52 week low of $432.70 and a 52 week high of $808.16. The company has a market capitalization of $17.30 billion, a PE ratio of 31.82, a P/E/G ratio of 1.98 and a beta of 0.94.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Wednesday, November 4th. The aerospace company reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.18. Curtiss-Wright had a net margin of 14.86% and a return on equity of 21.08%. The business had revenue of $953.00 million during the quarter, compared to analysts’ expectations of $935.09 million. During the same quarter last year, the company posted $3.31 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts predict that Curtiss-Wright will post 15.51 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.2%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, September 25th. Curtiss-Wright’s payout ratio is currently 6.94%.

Insider Activity

In related news, EVP John Watts sold 1,035 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $619.46, for a total value of $641,141.10. Following the transaction, the executive vice president owned 2,736 shares in the company, valued at $1,694,842.56. This trade represents a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry D. Wyche sold 100 shares of Curtiss-Wright stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the sale, the director owned 1,414 shares of the company’s stock, valued at approximately $843,790.36. The trade was a 6.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Curtiss-Wright

Several institutional investors have recently modified their holdings of the business. Benjamin Edwards Inc. raised its position in Curtiss-Wright by 4.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 2,977 shares of the aerospace company’s stock valued at $1,619,000 after buying an additional 121 shares during the last quarter. First Trust Advisors LP lifted its stake in Curtiss-Wright by 2.7% in the 3rd quarter. First Trust Advisors LP now owns 207,138 shares of the aerospace company’s stock valued at $112,646,000 after acquiring an additional 5,472 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake in Curtiss-Wright by 1.2% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 3,100 shares of the aerospace company’s stock valued at $1,686,000 after acquiring an additional 38 shares in the last quarter. TIAA CREF Individual & Institutional Services LLC boosted its position in Curtiss-Wright by 23.2% during the 3rd quarter. TIAA CREF Individual & Institutional Services LLC now owns 647 shares of the aerospace company’s stock worth $352,000 after acquiring an additional 122 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in Curtiss-Wright by 0.7% during the 3rd quarter. Whittier Trust Co. now owns 63,340 shares of the aerospace company’s stock worth $32,468,000 after acquiring an additional 424 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified industrial company that develops and manufactures engineered products and provides services for the aerospace, defense, power-generation and general industrial markets. Its offerings include actuation and control systems, sensors, valves and pumps, and embedded computing and electronics. The company serves customers around the world, including aircraft manufacturers and operators, defense contractors, government agencies, and commercial nuclear power providers.