Key Points
- CEO Lynn Bamford sold 2,500 Curtiss-Wright shares on June 9 at an average price of $721.72, totaling about $1.8 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and her direct stake fell 4.94% to 48,134 shares.
- Curtiss-Wright beat quarterly earnings expectations, reporting $3.48 EPS versus $3.32 expected and revenue of $913.69 million versus $863.83 million estimated. Revenue rose 13.4% year over year, and the company posted a net margin of 14.17%.
- The company also declared a quarterly dividend of $0.24 per share, payable July 6, with an annualized payout of $0.96 and a yield of 0.1%. Analysts currently hold a Moderate Buy consensus with a $746.67 price target.
Curtiss-Wright Corporation (NYSE:CW - Get Free Report) VP Gary Ogilby sold 399 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total value of $288,058.05. Following the completion of the transaction, the vice president owned 2,172 shares in the company, valued at $1,568,075.40. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Curtiss-Wright Price Performance
Shares of CW opened at $721.75 on Thursday. The company has a market capitalization of $26.66 billion, a price-to-earnings ratio of 52.88, a P/E/G ratio of 3.40 and a beta of 0.85. Curtiss-Wright Corporation has a fifty-two week low of $447.11 and a fifty-two week high of $760.72. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.52 and a quick ratio of 1.05. The business's 50-day moving average is $724.20 and its 200-day moving average is $662.21.
Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share for the quarter, beating analysts' consensus estimates 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%.The firm's quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 EPS. Equities research analysts expect that Curtiss-Wright Corporation will post 15.15 EPS for the current fiscal year.
Curtiss-Wright Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Monday, June 15th will be issued a $0.24 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. Curtiss-Wright's dividend payout ratio is currently 7.62%.
Wall Street Analysts Forecast Growth
CW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $748.00 price objective on shares of Curtiss-Wright in a report on Tuesday, February 17th. Robert W. Baird set a $870.00 price objective on Curtiss-Wright in a report on Friday, May 8th. Weiss Ratings restated a "buy (b)" rating on shares of Curtiss-Wright in a report on Wednesday, May 13th. Stifel Nicolaus set a $724.00 price objective on Curtiss-Wright in a report on Friday, May 8th. Finally, Morgan Stanley restated an "overweight" rating and issued a $760.00 price objective on shares of Curtiss-Wright in a report on Friday, February 13th. Three equities research 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 currently has a consensus rating of "Moderate Buy" and an average price target of $746.67.
View Our Latest Analysis on Curtiss-Wright
Institutional Investors Weigh In On Curtiss-Wright
A number of large investors have recently added to or reduced their stakes in CW. Norges Bank bought a new stake in Curtiss-Wright during the fourth quarter worth approximately $290,633,000. Corient Private Wealth LLC boosted its position in Curtiss-Wright by 6,169.8% during the fourth quarter. Corient Private Wealth LLC now owns 406,531 shares of the aerospace company's stock worth $224,108,000 after purchasing an additional 400,047 shares during the period. Franklin Resources Inc. boosted its position in Curtiss-Wright by 61.0% during the fourth quarter. Franklin Resources Inc. now owns 490,489 shares of the aerospace company's stock worth $270,392,000 after purchasing an additional 185,887 shares during the period. Axiom Investors LLC DE bought a new stake in Curtiss-Wright during the fourth quarter worth approximately $76,892,000. Finally, AQR Capital Management LLC boosted its position in Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company's stock worth $189,468,000 after purchasing an additional 122,048 shares during the period. Institutional investors own 82.71% of the company's stock.
Curtiss-Wright Company Profile
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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.
Further Reading
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