Curtiss-Wright (NYSE:CW) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Curtiss-Wright (NYSE:CW – Get Rating) in a research report released on Thursday. The brokerage issued a buy rating on the aerospace company’s stock.

A number of other research analysts also recently issued reports on the company. Truist Financial boosted their price objective on Curtiss-Wright from $183.00 to $190.00 and gave the company a buy rating in a research note on Thursday, February 23rd. Morgan Stanley lowered shares of Curtiss-Wright from an overweight rating to an equal weight rating and increased their target price for the stock from $187.00 to $188.00 in a report on Monday, December 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $179.80.

Curtiss-Wright Stock Down 3.2 %

CW opened at $164.29 on Thursday. Curtiss-Wright has a 1-year low of $124.37 and a 1-year high of $182.55. The firm’s 50 day simple moving average is $169.22 and its two-hundred day simple moving average is $163.88. The company has a current ratio of 1.56, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $6.29 billion, a PE ratio of 21.59 and a beta of 1.24.

Curtiss-Wright (NYSE:CW – Get Rating) last announced its earnings results on Tuesday, February 21st. The aerospace company reported $2.92 EPS for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.10). Curtiss-Wright had a return on equity of 16.56% and a net margin of 11.51%. The company had revenue of $758.00 million during the quarter, compared to the consensus estimate of $752.23 million. During the same period in the prior year, the business posted $2.40 earnings per share. Curtiss-Wright’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities analysts forecast that Curtiss-Wright will post 8.76 EPS for the current year.

Curtiss-Wright Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Friday, March 31st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, March 30th. Curtiss-Wright’s dividend payout ratio is 9.99%.

Insider Buying and Selling

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,223 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $169.42, for a total value of $376,620.66. Following the completion of the transaction, the chief executive officer now directly owns 17,356 shares in the company, valued at approximately $2,940,453.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Curtiss-Wright news, CEO Lynn M. Bamford sold 2,223 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $169.42, for a total value of $376,620.66. Following the completion of the transaction, the chief executive officer now directly owns 17,356 shares in the company, valued at approximately $2,940,453.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Kevin Rayment sold 1,751 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $169.38, for a total value of $296,584.38. Following the completion of the transaction, the chief operating officer now owns 15,154 shares of the company’s stock, valued at $2,566,784.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,061 shares of company stock valued at $1,027,287. 0.62% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in shares of Curtiss-Wright by 11.0% during the 2nd quarter. Principal Financial Group Inc. now owns 151,321 shares of the aerospace company’s stock valued at $19,983,000 after acquiring an additional 14,966 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Curtiss-Wright by 1.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 59,475 shares of the aerospace company’s stock valued at $8,277,000 after acquiring an additional 740 shares during the last quarter. CIBC Asset Management Inc bought a new position in shares of Curtiss-Wright during the 3rd quarter valued at approximately $206,000. Verition Fund Management LLC boosted its position in shares of Curtiss-Wright by 232.2% during the 3rd quarter. Verition Fund Management LLC now owns 14,000 shares of the aerospace company’s stock valued at $1,948,000 after acquiring an additional 9,786 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Curtiss-Wright by 4.3% during the 3rd quarter. California Public Employees Retirement System now owns 95,549 shares of the aerospace company’s stock valued at $13,297,000 after acquiring an additional 3,901 shares during the last quarter. 84.95% of the stock is currently owned by institutional investors.

About Curtiss-Wright

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Curtiss-Wright Corporation is a global integrated business that provides engineered products, solutions, and services mainly to the aerospace and defense markets, as well as critical technologies in demanding commercial power, process, and industrial markets. It operates through the following three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.