Curtiss-Wright Co. (NYSE:CW) Announces Dividend Increase – $0.24 Per Share

Curtiss-Wright Co. (NYSE:CW) announced a quarterly dividend on Thursday, May 15th, Wall Street Journal reports. Stockholders of record on Monday, June 16th will be paid a dividend of 0.24 per share by the aerospace company on Monday, July 7th. This represents a $0.96 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Monday, June 16th. This is a 14.3% increase from Curtiss-Wright’s previous quarterly dividend of $0.21.

Curtiss-Wright has increased its dividend by an average of 5.3% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Curtiss-Wright has a dividend payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Curtiss-Wright to earn $13.06 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 6.4%.

Curtiss-Wright Stock Up 1.1%

Shares of CW opened at $406.40 on Friday. The company has a market cap of $15.30 billion, a PE ratio of 38.52, a P/E/G ratio of 2.48 and a beta of 1.04. Curtiss-Wright has a 52-week low of $258.85 and a 52-week high of $407.92. The business has a fifty day moving average of $333.16 and a 200 day moving average of $346.67. The company has a quick ratio of 1.19, a current ratio of 1.69 and a debt-to-equity ratio of 0.39.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.39 by $0.43. The company had revenue of $805.65 million for the quarter, compared to the consensus estimate of $767.32 million. Curtiss-Wright had a return on equity of 17.11% and a net margin of 12.98%. Curtiss-Wright’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.99 EPS. On average, sell-side analysts expect that Curtiss-Wright will post 12.32 EPS for the current year.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, CFO K Christopher Farkas sold 4,780 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $350.00, for a total transaction of $1,673,000.00. Following the completion of the sale, the chief financial officer now directly owns 9,253 shares in the company, valued at approximately $3,238,550. The trade was a 34.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul J. Ferdenzi sold 658 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $325.68, for a total transaction of $214,297.44. Following the completion of the sale, the insider now owns 19,239 shares in the company, valued at $6,265,757.52. The trade was a 3.31% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,642 shares of company stock worth $3,581,107. Company insiders own 0.55% of the company’s stock.

Analysts Set New Price Targets

CW has been the topic of several research reports. Stifel Nicolaus reduced their price objective on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Truist Financial dropped their price target on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Citigroup dropped their target price on shares of Curtiss-Wright from $450.00 to $424.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, StockNews.com upgraded shares of Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Curtiss-Wright currently has an average rating of “Moderate Buy” and a consensus target price of $377.43.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.