Curtiss-Wright (NYSE:CW) Stock Price Down 4.8% – Here’s Why

Curtiss-Wright Co. (NYSE:CW)’s share price fell 4.8% during trading on Tuesday . The stock traded as low as $366.20 and last traded at $366.46. 134,640 shares were traded during trading, a decline of 41% from the average session volume of 226,439 shares. The stock had previously closed at $385.02.

Wall Street Analyst Weigh In

CW has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Curtiss-Wright from $334.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft initiated coverage on Curtiss-Wright in a research report on Thursday, December 5th. They issued a “buy” rating and a $452.00 target price for the company. Truist Financial lifted their price target on Curtiss-Wright from $304.00 to $333.00 and gave the company a “hold” rating in a research report on Friday, November 1st. StockNews.com lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. Finally, Stifel Nicolaus lowered Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 target price on the stock. in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Curtiss-Wright currently has an average rating of “Moderate Buy” and an average target price of $379.00.

Curtiss-Wright Stock Down 5.3 %

The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of 36.45, a price-to-earnings-growth ratio of 2.96 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 1.98 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $363.34 and a 200-day moving average price of $317.88.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Friday, November 22nd were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.84 annualized dividend and a yield of 0.23%. Curtiss-Wright’s payout ratio is presently 7.95%.

Insiders Place Their Bets

In other news, VP John C. Watts sold 412 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $359.55, for a total value of $148,134.60. Following the completion of the sale, the vice president now owns 4,183 shares of the company’s stock, valued at $1,503,997.65. This trade represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lynn M. Bamford sold 7,129 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $368.80, for a total value of $2,629,175.20. Following the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CW. Tsfg LLC boosted its stake in shares of Curtiss-Wright by 191.4% during the 3rd quarter. Tsfg LLC now owns 102 shares of the aerospace company’s stock valued at $34,000 after buying an additional 67 shares during the period. UMB Bank n.a. boosted its position in Curtiss-Wright by 303.8% during the third quarter. UMB Bank n.a. now owns 105 shares of the aerospace company’s stock valued at $35,000 after purchasing an additional 79 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Curtiss-Wright in the third quarter valued at about $53,000. Brooklyn Investment Group acquired a new position in Curtiss-Wright in the 3rd quarter worth about $59,000. Finally, Quarry LP raised its stake in shares of Curtiss-Wright by 176.9% during the 2nd quarter. Quarry LP now owns 252 shares of the aerospace company’s stock worth $68,000 after purchasing an additional 161 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

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.