Curtiss-Wright (NYSE:CW) Hits New 12-Month High - Still a Buy?

Key Points

• Curtiss-Wright Corporation reached a new 12-month high of $528.44, reflecting a strong performance with a last trading price of $523.80.
• Analysts have mixed ratings, with Wall Street Zen downgrading the stock from "strong-buy" to "buy," while Morgan Stanley increased its price target to $550.00, highlighting the company's potential for growth.
• The company announced a quarterly dividend of $0.24 per share, yielding 0.2%, with a payout ratio of 8.10% and a steady increase in revenue year-over-year.

Curtiss-Wright Corporation (NYSE:CW - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $528.44 and last traded at $523.80, with a volume of 59824 shares changing hands. The stock had previously closed at $518.13.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CW. Wall Street Zen lowered shares of Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Truist Financial decreased their price target on shares of Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Morgan Stanley upped their price target on shares of Curtiss-Wright from $405.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Citigroup upped their price target on shares of Curtiss-Wright from $525.00 to $568.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus upped their price target on shares of Curtiss-Wright from $450.00 to $457.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $468.14.

Curtiss-Wright Stock Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.35 and a current ratio of 1.95. The firm's 50 day simple moving average is $490.43 and its 200-day simple moving average is $425.48. The company has a market cap of $19.58 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 3.15 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.10. The firm had revenue of $876.58 million for the quarter, compared to analysts' expectations of $855.10 million. Curtiss-Wright had a net margin of 13.66% and a return on equity of 18.34%. The company's revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.67 EPS. On average, sell-side analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 26th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. Curtiss-Wright's dividend payout ratio is presently 8.10%.

Insider Buying and Selling

In other Curtiss-Wright news, VP John C. Watts sold 1,110 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $480.50, for a total value of $533,355.00. Following the transaction, the vice president owned 3,863 shares of the company's stock, valued at $1,856,171.50. This represents a 22.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of Curtiss-Wright by 98.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,664 shares of the aerospace company's stock worth $1,163,000 after purchasing an additional 1,817 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Curtiss-Wright by 100.4% during the first quarter. Vontobel Holding Ltd. now owns 1,140 shares of the aerospace company's stock worth $362,000 after purchasing an additional 571 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Curtiss-Wright during the first quarter worth about $240,000. Janney Montgomery Scott LLC lifted its position in shares of Curtiss-Wright by 37.7% during the first quarter. Janney Montgomery Scott LLC now owns 3,652 shares of the aerospace company's stock worth $1,159,000 after purchasing an additional 999 shares in the last quarter. Finally, Mission Wealth Management LP acquired a new stake in shares of Curtiss-Wright during the first quarter worth about $206,000. Institutional investors and hedge funds own 82.71% of the company's stock.

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.

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