Curtiss-Wright (NYSE:CW) Reaches New 1-Year High – Here’s Why

Curtiss-Wright Corporation (NYSE:CW) hit a new 52-week high on Wednesday . The stock traded as high as $779.70 and last traded at $764.7390, with a volume of 239576 shares changing hands. The stock had previously closed at $762.59.

Analysts Set New Price Targets

A number of research firms have issued reports on CW. Robert W. Baird set a $870.00 target price on Curtiss-Wright in a research report on Friday, May 8th. Stifel Nicolaus set a $724.00 price target on Curtiss-Wright in a research note on Friday, May 8th. Citigroup lifted their price objective on Curtiss-Wright from $728.00 to $775.00 and gave the stock a “neutral” rating in a report on Monday, May 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $746.67.

Curtiss-Wright Stock Performance

The company has a market capitalization of $28.85 billion, a P/E ratio of 57.21, a P/E/G ratio of 3.60 and a beta of 0.85. The company has a current ratio of 1.52, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average is $732.82 and its 200 day moving average is $671.17.

Curtiss-Wright (NYSE:CW) last issued its earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. The business had revenue of $913.69 million for the quarter, compared to analysts’ expectations of $863.83 million. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 EPS. As a group, equities analysts anticipate that Curtiss-Wright Corporation will post 15.15 earnings per share for the current year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Monday, June 15th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Monday, June 15th. Curtiss-Wright’s payout ratio is presently 7.62%.

Insider Activity at Curtiss-Wright

In related news, VP Gary A. Ogilby sold 399 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.95, for a total transaction of $288,058.05. Following the sale, the vice president owned 2,172 shares of the company’s stock, valued at approximately $1,568,075.40. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the transaction, the chief executive officer owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. This represents a 4.94% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 3,119 shares of company stock worth $2,257,998. 0.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Curtiss-Wright

Several hedge funds have recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC purchased a new stake in Curtiss-Wright in the 4th quarter worth approximately $31,000. Larson Financial Group LLC grew its position in shares of Curtiss-Wright by 53.8% during the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 21 shares in the last quarter. Transamerica Financial Advisors LLC increased its holdings in shares of Curtiss-Wright by 25.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 73 shares of the aerospace company’s stock worth $40,000 after purchasing an additional 15 shares during the period. Signature Equity Partners LLC increased its holdings in shares of Curtiss-Wright by 140.0% in the first quarter. Signature Equity Partners LLC now owns 60 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 35 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Curtiss-Wright in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.