StockNews.com Lowers Curtiss-Wright (NYSE:CW) to Buy

StockNews.com downgraded shares of Curtiss-Wright (NYSE:CW) from a strong-buy rating to a buy rating in a research note released on Monday morning.

Other research analysts have also recently issued reports about the company. Robert W. Baird raised their price objective on Curtiss-Wright from $300.00 to $312.00 and gave the company an outperform rating in a research note on Friday, August 9th. Stifel Nicolaus raised their price target on Curtiss-Wright from $310.00 to $318.00 and gave the stock a buy rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $307.50.

Curtiss-Wright Stock Performance

Shares of NYSE CW opened at $324.89 on Monday. The stock’s 50-day moving average is $299.03 and its 200 day moving average is $277.23. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 33.46 and a beta of 1.18. Curtiss-Wright has a 1-year low of $190.64 and a 1-year high of $333.73. The company has a current ratio of 2.05, a quick ratio of 1.42 and a debt-to-equity ratio of 0.39.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Wednesday, August 7th. The aerospace company reported $2.67 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.43. Curtiss-Wright had a net margin of 13.05% and a return on equity of 17.07%. The firm had revenue of $785.00 million during the quarter, compared to analyst estimates of $735.82 million. During the same period in the previous year, the business posted $2.15 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts anticipate that Curtiss-Wright will post 10.55 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.26%. Curtiss-Wright’s dividend payout ratio is currently 8.65%.

Insider Buying and Selling

In other Curtiss-Wright news, Director Glenda J. Minor sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $302.80, for a total transaction of $151,400.00. Following the completion of the transaction, the director now owns 1,382 shares of the company’s stock, valued at approximately $418,469.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 120 shares of company stock valued at $27,914 over the last ninety days. 0.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Curtiss-Wright

Hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its position in shares of Curtiss-Wright by 14.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 2,297 shares of the aerospace company’s stock valued at $512,000 after buying an additional 288 shares during the period. Assetmark Inc. raised its position in shares of Curtiss-Wright by 49.3% in the 4th quarter. Assetmark Inc. now owns 3,428 shares of the aerospace company’s stock worth $764,000 after acquiring an additional 1,132 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Curtiss-Wright by 60.6% in the 4th quarter. Franklin Resources Inc. now owns 31,214 shares of the aerospace company’s stock valued at $6,954,000 after purchasing an additional 11,773 shares during the period. US Bancorp DE boosted its position in shares of Curtiss-Wright by 4.9% during the fourth quarter. US Bancorp DE now owns 5,406 shares of the aerospace company’s stock valued at $1,204,000 after purchasing an additional 253 shares in the last quarter. Finally, Congress Wealth Management LLC DE raised its holdings in Curtiss-Wright by 14.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 12,552 shares of the aerospace company’s stock worth $2,797,000 after purchasing an additional 1,546 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.