Curtiss-Wright (NYSE:CW) Hits New 52-Week High - Here's Why

Shares of Curtiss-Wright Co. (NYSE:CW - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $471.75 and last traded at $470.94, with a volume of 338448 shares trading hands. The stock had previously closed at $456.54.

Wall Street Analysts Forecast Growth

CW has been the topic of several recent research reports. Robert W. Baird boosted their target price on Curtiss-Wright from $432.00 to $500.00 and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Wall Street Zen lowered Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th. Citigroup upped their target price on Curtiss-Wright from $444.00 to $520.00 and gave the company a "buy" rating in a report on Monday. Truist Financial lowered their price target on shares of Curtiss-Wright from $357.00 to $338.00 and set a "hold" rating on the stock in a research report on Thursday, April 17th. Finally, Stifel Nicolaus dropped their price objective on shares of Curtiss-Wright from $331.00 to $309.00 and set a "hold" rating for the company in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $418.00.

Curtiss-Wright Trading Up 0.5%

The business has a fifty day moving average price of $378.00 and a two-hundred day moving average price of $356.28. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $17.86 billion, a PE ratio of 44.96, a PEG ratio of 2.48 and a beta of 1.14.

Curtiss-Wright (NYSE:CW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.43. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. The company had revenue of $805.65 million for the quarter, compared to analysts' expectations of $767.32 million. During the same quarter in the prior year, the company posted $1.99 earnings per share. Curtiss-Wright's revenue for the quarter was up 13.0% compared to the same quarter last year. Analysts expect that Curtiss-Wright Co. will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 7th. Investors of record on Monday, June 16th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.20%. The ex-dividend date is Monday, June 16th. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.21. Curtiss-Wright's dividend payout ratio (DPR) is 8.54%.

Insider Buying and Selling at Curtiss-Wright

In other news, insider Paul J. Ferdenzi sold 658 shares of Curtiss-Wright stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $325.68, for a total value of $214,297.44. Following the completion of the sale, the insider now directly owns 19,239 shares of the company's stock, valued at approximately $6,265,757.52. The trade was a 3.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bruce D. Hoechner sold 1,900 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $448.00, for a total value of $851,200.00. Following the transaction, the director now owns 4,523 shares of the company's stock, valued at $2,026,304. This trade represents a 29.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,992 shares of company stock valued at $4,634,519 over the last quarter. 0.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. David Wealth Management LLC acquired a new stake in Curtiss-Wright during the 4th quarter worth approximately $221,000. Gladstone Institutional Advisory LLC purchased a new stake in shares of Curtiss-Wright during the fourth quarter worth $391,000. Allspring Global Investments Holdings LLC raised its stake in shares of Curtiss-Wright by 90.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 338,506 shares of the aerospace company's stock valued at $118,961,000 after acquiring an additional 160,395 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Curtiss-Wright by 31.3% in the fourth quarter. Van ECK Associates Corp now owns 333,088 shares of the aerospace company's stock valued at $118,203,000 after purchasing an additional 79,362 shares during the period. Finally, Principal Securities Inc. grew its stake in Curtiss-Wright by 11.6% during the 4th quarter. Principal Securities Inc. now owns 3,574 shares of the aerospace company's stock worth $1,268,000 after purchasing an additional 371 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company's stock.

Curtiss-Wright Company Profile

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.