Short Interest in Curtiss-Wright Co. (NYSE:CW) Expands By 22.7%

Curtiss-Wright Co. (NYSE:CW) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 281,400 shares, an increase of 22.7% from the August 15th total of 229,300 shares. Based on an average daily trading volume, of 249,300 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.7% of the company’s stock are sold short.

Insider Activity at Curtiss-Wright

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

Institutional Trading of Curtiss-Wright

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in Curtiss-Wright by 5,050.0% during the second quarter. Versant Capital Management Inc now owns 103 shares of the aerospace company’s stock valued at $28,000 after buying an additional 101 shares during the period. GPS Wealth Strategies Group LLC acquired a new position in shares of Curtiss-Wright in the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC lifted its position in shares of Curtiss-Wright by 1,933.3% in the first quarter. EverSource Wealth Advisors LLC now owns 122 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 116 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Curtiss-Wright during the fourth quarter worth approximately $32,000. Finally, Sachetta LLC purchased a new position in Curtiss-Wright during the fourth quarter valued at approximately $45,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Stock Up 0.8 %

CW stock opened at $312.39 on Tuesday. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 32.17 and a beta of 1.18. 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 has a 52 week low of $190.64 and a 52 week high of $318.20. The firm’s 50-day moving average is $293.09 and its two-hundred day moving average is $273.44.

Curtiss-Wright (NYSE:CW) last issued its earnings results 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. The firm had revenue of $785.00 million during the quarter, compared to analysts’ expectations of $735.82 million. Curtiss-Wright had a net margin of 13.05% and a return on equity of 17.07%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $2.15 earnings per share. On average, analysts forecast that Curtiss-Wright will post 10.55 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently declared 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 is Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.27%. Curtiss-Wright’s dividend payout ratio is currently 8.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CW shares. Stifel Nicolaus raised their price target on shares of Curtiss-Wright from $310.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Truist Financial upped their target price on shares of Curtiss-Wright from $252.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 12th. Robert W. Baird increased their price objective on shares of Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Morgan Stanley boosted their price objective on Curtiss-Wright from $284.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Curtiss-Wright presently has an average rating of “Buy” and an average target price of $307.50.

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.