Curtiss-Wright (NYSE:CW) Hits New 12-Month High - Time to Buy?

Key Points

• Curtiss-Wright shares reached a new 52-week high, trading as high as $808.16 as investors pushed the stock above its recent range. Despite the rally, the stock was still near its prior close of $792.77.
• The company posted stronger-than-expected quarterly results, with EPS of $3.48 versus estimates of $3.32 and revenue of $913.69 million versus expectations of $863.83 million. Revenue rose 13.4% year over year, and analysts now expect full-year EPS of 15.17.
• Wall Street remains cautiously constructive, with a consensus rating of “Moderate Buy” and an average price target of $749.67. Insider selling and the stock’s high valuation may temper enthusiasm, even as institutional ownership remains heavy at 82.71%.

Shares of Curtiss-Wright Corporation (NYSE:CW - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $808.16 and last traded at $774.40, with a volume of 11022 shares trading hands. The stock had previously closed at $792.77.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CW. Stifel Nicolaus set a $724.00 price objective on Curtiss-Wright in a research note on Friday, May 8th. Citigroup lifted their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 1st. Weiss Ratings lowered shares of Curtiss-Wright from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Finally, Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Curtiss-Wright currently has a consensus rating of "Moderate Buy" and an average price target of $749.67.

Curtiss-Wright Price Performance

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 business's 50-day simple moving average is $741.63 and its two-hundred day simple moving average is $689.46. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 55.97, a P/E/G ratio of 3.52 and a beta of 0.86.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The firm had revenue of $913.69 million for the quarter, compared to the consensus estimate of $863.83 million. During the same quarter in the previous year, the company earned $2.82 EPS. The company's revenue for the quarter was up 13.4% on a year-over-year basis. As a group, research analysts expect that Curtiss-Wright Corporation will post 15.17 EPS for the current fiscal year.

Curtiss-Wright Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were issued a $0.24 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright's payout ratio is presently 7.62%.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, EVP John C. Watts sold 220 shares of Curtiss-Wright stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total value of $165,640.20. Following the completion of the sale, the executive vice president directly owned 3,962 shares in the company, valued at approximately $2,983,029.42. The trade was a 5.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Gary A. Ogilby sold 399 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $721.95, for a total transaction of $288,058.05. Following the transaction, the vice president owned 2,172 shares in the company, valued at $1,568,075.40. The trade was a 15.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 3,119 shares of company stock valued at $2,257,998. 0.51% of the stock is currently owned by insiders.

Institutional Trading of Curtiss-Wright

Several large investors have recently made changes to their positions in the company. State Street Corp raised its stake in Curtiss-Wright by 1.2% during the 3rd quarter. State Street Corp now owns 1,436,161 shares of the aerospace company's stock worth $780,091,000 after buying an additional 16,962 shares during the period. Invesco Ltd. boosted its holdings in Curtiss-Wright by 7.9% in the fourth quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company's stock worth $671,231,000 after acquiring an additional 88,688 shares in the last quarter. Geode Capital Management LLC grew its stake in Curtiss-Wright by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company's stock valued at $464,130,000 after acquiring an additional 47,287 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Curtiss-Wright by 5.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company's stock valued at $423,519,000 after acquiring an additional 39,515 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Curtiss-Wright by 5.3% during the third quarter. Van ECK Associates Corp now owns 740,033 shares of the aerospace company's stock valued at $401,794,000 after acquiring an additional 37,069 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

About Curtiss-Wright

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.

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