Key Points
- Insider sale: Curtiss-Wright EVP John Watts sold 220 shares on May 27 at an average price of $752.91, totaling about $165,640. The trade was made under a pre-arranged Rule 10b5-1 plan.
- Strong quarterly results: The aerospace company reported quarterly EPS of $3.48, beating estimates of $3.32, on revenue of $913.69 million versus expectations of $863.83 million. Revenue rose 13.4% year over year.
- Dividend and valuation context: Curtiss-Wright declared a quarterly dividend of $0.24 per share, payable July 6, and has a very low yield of about 0.1%. Analysts currently rate the stock Moderate Buy with an average target price of $746.67.
Curtiss-Wright Corporation (NYSE:CW - Get Free Report) EVP John Watts sold 220 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the transaction, the executive vice president owned 3,962 shares in the company, valued at $2,983,029.42. The trade was a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Curtiss-Wright Trading Down 1.0%
CW opened at $742.83 on Thursday. The stock's fifty day moving average is $713.43 and its two-hundred day moving average is $649.95. The company has a market capitalization of $27.44 billion, a P/E ratio of 54.42, a PEG ratio of 3.48 and a beta of 0.86. Curtiss-Wright Corporation has a 52 week low of $435.35 and a 52 week high of $760.72. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29.
Curtiss-Wright (NYSE:CW - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, topping the consensus estimate of $3.32 by $0.16. The company had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. Curtiss-Wright had a return on equity of 20.00% and a net margin of 14.17%.Curtiss-Wright's quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business posted $2.82 EPS. Analysts forecast that Curtiss-Wright Corporation will post 15.15 earnings per share for the current year.
Curtiss-Wright Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, June 15th. Curtiss-Wright's payout ratio is presently 7.03%.
Analysts Set New Price Targets
Several research analysts have recently commented on CW shares. Weiss Ratings reissued a "buy (b)" rating on shares of Curtiss-Wright in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $748.00 price target on shares of Curtiss-Wright in a research report on Tuesday, February 17th. Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a research report on Friday, May 8th. Morgan Stanley reissued an "overweight" rating and issued a $760.00 price target on shares of Curtiss-Wright in a research report on Friday, February 13th. Finally, Citigroup boosted their price target on Curtiss-Wright from $728.00 to $775.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Curtiss-Wright currently has an average rating of "Moderate Buy" and an average target price of $746.67.
Read Our Latest Research Report on CW
Institutional Trading of Curtiss-Wright
Several hedge funds and other institutional investors have recently made changes to their positions in CW. Atlantic Union Bankshares Corp purchased a new position in Curtiss-Wright in the 3rd quarter worth $26,000. Cary Street Partners Investment Advisory LLC purchased a new position in Curtiss-Wright in the 4th quarter worth $31,000. Signature Equity Partners LLC raised its stake in Curtiss-Wright by 140.0% in the 1st quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company's stock worth $41,000 after acquiring an additional 35 shares during the last quarter. Larson Financial Group LLC raised its stake in Curtiss-Wright by 53.8% in the 3rd 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 last quarter. Finally, Transamerica Financial Advisors LLC raised its stake in Curtiss-Wright by 25.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company's stock worth $40,000 after acquiring an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company's stock.
Curtiss-Wright Company Profile
(
Get Free Report)
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.
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