Curtiss-Wright (NYSE:CW) Reaches New 12-Month High - What's Next?

Curtiss-Wright Corporation (NYSE:CW - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $490.71 and last traded at $488.96, with a volume of 216739 shares traded. The stock had previously closed at $487.70.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CW shares. Stifel Nicolaus cut their price objective on shares of Curtiss-Wright from $331.00 to $309.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Truist Financial dropped 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. Robert W. Baird increased their price objective on shares of Curtiss-Wright from $432.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, May 22nd. Citigroup raised their price objective on shares of Curtiss-Wright from $444.00 to $520.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Wall Street Zen downgraded Curtiss-Wright from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Curtiss-Wright currently has an average rating of "Moderate Buy" and a consensus target price of $418.00.

Curtiss-Wright Price Performance

The company has a market cap of $18.85 billion, a price-to-earnings ratio of 44.54, a P/E/G ratio of 3.20 and a beta of 1.15. The company has a current ratio of 1.89, a quick ratio of 1.28 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $432.79 and a 200 day moving average price of $368.71.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.39 by $0.43. The business had revenue of $805.65 million during the quarter, compared to the consensus estimate of $767.32 million. Curtiss-Wright had a return on equity of 18.02% and a net margin of 13.38%. Curtiss-Wright's revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.99 earnings per share. As a group, research analysts expect that Curtiss-Wright Corporation will post 12.32 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.19%. This is a positive change from Curtiss-Wright's previous quarterly dividend of $0.21. Curtiss-Wright's payout ratio is currently 8.54%.

Insider Activity at Curtiss-Wright

In related news, Director Bruce D. Hoechner sold 1,900 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $448.00, for a total value of $851,200.00. Following the completion of the sale, the director directly owned 4,523 shares of the company's stock, valued at approximately $2,026,304. This represents a 29.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John C. Watts sold 450 shares of Curtiss-Wright stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $449.36, for a total value of $202,212.00. Following the transaction, the vice president directly owned 4,959 shares in the company, valued at approximately $2,228,376.24. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,130 shares of company stock worth $2,726,412. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of Curtiss-Wright

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. increased its position in Curtiss-Wright by 0.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,319 shares of the aerospace company's stock worth $1,178,000 after purchasing an additional 29 shares during the last quarter. Harbour Investments Inc. increased its holdings in Curtiss-Wright by 10.6% in the fourth quarter. Harbour Investments Inc. now owns 312 shares of the aerospace company's stock worth $111,000 after buying an additional 30 shares during the last quarter. Ascent Group LLC increased its holdings in Curtiss-Wright by 4.9% in the fourth quarter. Ascent Group LLC now owns 713 shares of the aerospace company's stock worth $253,000 after buying an additional 33 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Curtiss-Wright by 1.6% in the fourth quarter. Baird Financial Group Inc. now owns 2,122 shares of the aerospace company's stock valued at $753,000 after acquiring an additional 34 shares during the last quarter. Finally, Portside Wealth Group LLC increased its stake in shares of Curtiss-Wright by 1.6% during the 1st quarter. Portside Wealth Group LLC now owns 2,144 shares of the aerospace company's stock worth $680,000 after purchasing an additional 34 shares during the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

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.