Curtiss-Wright (NYSE:CW) Shares Gap Up After Earnings Beat

Curtiss-Wright Co. (NYSE:CW) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $341.94, but opened at $360.00. Curtiss-Wright shares last traded at $347.15, with a volume of 45,192 shares traded.

The aerospace company reported $3.27 EPS for the quarter, beating the consensus estimate of $3.12 by $0.15. Curtiss-Wright had a return on equity of 17.21% and a net margin of 13.20%.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Thursday, March 27th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $0.84 annualized dividend and a yield of 0.24%. Curtiss-Wright’s payout ratio is 7.95%.

Analyst Upgrades and Downgrades

CW has been the subject of several research analyst reports. Stifel Nicolaus lowered Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price objective for the company. in a research report on Monday, November 18th. Morgan Stanley boosted their price target on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Truist Financial raised their price objective on shares of Curtiss-Wright from $333.00 to $357.00 and gave the stock a “hold” rating in a research report on Tuesday, January 14th. Alembic Global Advisors initiated coverage on shares of Curtiss-Wright in a research report on Tuesday, October 29th. They set an “overweight” rating and a $412.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Curtiss-Wright in a report on Thursday, December 5th. They issued a “buy” rating and a $452.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus price target of $386.86.

Insiders Place Their Bets

In other Curtiss-Wright news, CEO Lynn M. Bamford sold 7,129 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $368.80, for a total value of $2,629,175.20. Following the sale, the chief executive officer now directly owns 28,688 shares in the company, valued at $10,580,134.40. The trade was a 19.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John C. Watts sold 622 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $347.05, for a total transaction of $215,865.10. Following the transaction, the vice president now owns 5,072 shares of the company’s stock, valued at $1,760,237.60. This represents a 10.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 116 shares of company stock worth $35,278 and have sold 23,064 shares worth $8,157,322. Corporate insiders own 0.67% of the company’s stock.

Institutional Trading of Curtiss-Wright

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of Curtiss-Wright in the second quarter worth $238,000. CWM LLC raised its holdings in shares of Curtiss-Wright by 84.7% in the 3rd quarter. CWM LLC now owns 1,228 shares of the aerospace company’s stock valued at $404,000 after acquiring an additional 563 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Curtiss-Wright by 303.8% during the third quarter. UMB Bank n.a. now owns 105 shares of the aerospace company’s stock worth $35,000 after purchasing an additional 79 shares in the last quarter. Creative Planning increased its position in shares of Curtiss-Wright by 8.2% in the third quarter. Creative Planning now owns 3,005 shares of the aerospace company’s stock worth $988,000 after purchasing an additional 227 shares during the last quarter. Finally, Tsfg LLC raised its stake in Curtiss-Wright by 191.4% in the third quarter. Tsfg LLC now owns 102 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 67 shares in the last quarter. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Curtiss-Wright Trading Up 1.5 %

The firm’s 50-day simple moving average is $358.44 and its 200-day simple moving average is $341.03. The firm has a market capitalization of $13.17 billion, a P/E ratio of 32.84, a price-to-earnings-growth ratio of 2.50 and a beta of 1.19. The company has a quick ratio of 1.39, a current ratio of 1.98 and a debt-to-equity ratio of 0.39.

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.