Curtiss-Wright (NYSE:CW) Sets New 1-Year High - Here's Why

Key Points

• Curtiss-Wright Corporation shares reached a new 52-week high of $538.37 during trading, closing at $532.61 with a volume of 11,695 shares.
• Wall Street analysts have varied opinions on the stock, with a consensus rating of "Moderate Buy" and a price target of $468.14, while Citigroup raised its target to $568.00.
• The company reported earnings per share of $3.23 for the quarter, exceeding expectations, with revenue increasing by 11.7% year-over-year to $876.58 million.

Shares of Curtiss-Wright Corporation (NYSE:CW - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $538.37 and last traded at $532.61, with a volume of 11695 shares. The stock had previously closed at $526.16.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their price target on Curtiss-Wright from $450.00 to $457.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Wall Street Zen cut Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Citigroup boosted their price target on Curtiss-Wright from $525.00 to $568.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Truist Financial cut their price target on Curtiss-Wright from $356.00 to $338.00 and set a "hold" rating for the company in a report on Friday, July 11th. Finally, Morgan Stanley boosted their price target on Curtiss-Wright from $405.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Curtiss-Wright currently has a consensus rating of "Moderate Buy" and a consensus price target of $468.14.

Curtiss-Wright Price Performance

The company has a 50-day moving average price of $493.30 and a two-hundred day moving average price of $431.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.35. The company has a market cap of $20.06 billion, a PE ratio of 44.93, a P/E/G ratio of 3.22 and a beta of 1.15.

Curtiss-Wright (NYSE:CW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The aerospace company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.10. Curtiss-Wright had a return on equity of 18.34% and a net margin of 13.66%.The company had revenue of $876.58 million during the quarter, compared to the consensus estimate of $855.10 million. During the same quarter in the prior year, the business earned $2.67 earnings per share. The company's revenue was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Announces Dividend

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

Insider Transactions at Curtiss-Wright

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

Institutional Trading of Curtiss-Wright

A number of institutional investors and hedge funds have recently made changes to their positions in CW. Squarepoint Ops LLC raised its position in shares of Curtiss-Wright by 5.7% during the 4th quarter. Squarepoint Ops LLC now owns 904 shares of the aerospace company's stock worth $321,000 after purchasing an additional 49 shares during the period. Toronto Dominion Bank grew its holdings in shares of Curtiss-Wright by 95.2% in the 4th quarter. Toronto Dominion Bank now owns 886 shares of the aerospace company's stock worth $314,000 after acquiring an additional 432 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Curtiss-Wright by 6.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,353 shares of the aerospace company's stock worth $2,254,000 after buying an additional 405 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Curtiss-Wright by 165.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 199 shares of the aerospace company's stock valued at $63,000 after purchasing an additional 124 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Curtiss-Wright by 326.7% in the first quarter. Versant Capital Management Inc now owns 559 shares of the aerospace company's stock worth $177,000 after buying an additional 428 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

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.

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