Curtiss-Wright (NYSE:CW) Reaches New 52-Week High – Here’s Why

Curtiss-Wright Corporation (NYSE:CW)’s stock price reached a new 52-week high on Monday . The stock traded as high as $493.95 and last traded at $491.37, with a volume of 51222 shares traded. The stock had previously closed at $487.97.

Analysts Set New Price Targets

CW has been the subject of several research analyst reports. Truist Financial decreased their target price on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating for the company in a research report on Thursday, April 17th. Wall Street Zen downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 24th. Stifel Nicolaus decreased their price target on shares of Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Citigroup lifted their target price on Curtiss-Wright from $444.00 to $520.00 and gave the company a “buy” rating in a research report on Monday, June 9th. Finally, Robert W. Baird lifted their target price on Curtiss-Wright from $432.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $418.00.

Curtiss-Wright Price Performance

The stock has a 50 day simple moving average of $432.79 and a two-hundred day simple moving average of $369.00. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 43.66, a price-to-earnings-growth ratio of 3.20 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.89 and a quick ratio of 1.28.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.43. The firm had revenue of $805.65 million for the quarter, compared to analyst estimates of $767.32 million. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. Curtiss-Wright’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 EPS. On average, equities research analysts predict that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 0.20%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.21. Curtiss-Wright’s dividend payout ratio (DPR) is presently 8.54%.

Insiders Place Their Bets

In other news, CFO K Christopher Farkas sold 4,780 shares of Curtiss-Wright stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $350.00, for a total value of $1,673,000.00. Following the transaction, the chief financial officer directly owned 9,253 shares of the company’s stock, valued at $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 available through this link. Also, VP John C. Watts sold 450 shares of the business’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $449.36, for a total value of $202,212.00. Following the completion of the transaction, the vice president owned 4,959 shares in the company, valued at $2,228,376.24. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,130 shares of company stock valued at $2,726,412 over the last quarter. Company insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Curtiss-Wright

A number of institutional investors and hedge funds have recently modified their holdings of CW. Norges Bank acquired a new stake in Curtiss-Wright in the 4th quarter valued at about $201,856,000. William Blair Investment Management LLC purchased a new stake in Curtiss-Wright during the 4th quarter worth about $132,626,000. GAMMA Investing LLC increased its position in Curtiss-Wright by 44,878.7% during the 1st quarter. GAMMA Investing LLC now owns 259,527 shares of the aerospace company’s stock worth $82,340,000 after purchasing an additional 258,950 shares in the last quarter. Nuveen LLC purchased a new stake in Curtiss-Wright during the 1st quarter worth about $70,357,000. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Curtiss-Wright during the first quarter worth about $55,639,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

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.