Curtiss-Wright (NYSE:CW) Sets New 52-Week High - Still a Buy?

Curtiss-Wright Co. (NYSE:CW - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $403.81 and last traded at $392.41, with a volume of 403 shares changing hands. The stock had previously closed at $384.60.

Analyst Upgrades and Downgrades

CW has been the topic of a number of research reports. Truist Financial reduced their target price on shares of Curtiss-Wright from $357.00 to $338.00 and set a "hold" rating on the stock in a report on Thursday, April 17th. Citigroup lowered their target price on shares of Curtiss-Wright from $450.00 to $424.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Stifel Nicolaus decreased their target price on Curtiss-Wright from $331.00 to $309.00 and set a "hold" rating for the company in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $377.43.

Curtiss-Wright Stock Performance

The stock's 50 day moving average is $326.48 and its 200 day moving average is $345.26. The stock has a market capitalization of $14.56 billion, a price-to-earnings ratio of 36.65, a PEG ratio of 2.48 and a beta of 1.04. The company has a current ratio of 1.69, a quick ratio of 1.19 and a debt-to-equity ratio of 0.39.

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

Insiders Place Their Bets

In other news, CFO K Christopher Farkas sold 4,780 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $350.00, for a total transaction of $1,673,000.00. Following the transaction, the chief financial officer now directly owns 9,253 shares of the company's stock, valued at $3,238,550. This represents a 34.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lynn M. Bamford sold 3,131 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $325.41, for a total value of $1,018,858.71. Following the transaction, the chief executive officer now owns 42,887 shares in the company, valued at $13,955,858.67. This trade represents a 6.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,642 shares of company stock worth $3,581,107 over the last three months. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Curtiss-Wright

Institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in Curtiss-Wright by 2.6% in the third quarter. Tidal Investments LLC now owns 1,159 shares of the aerospace company's stock valued at $381,000 after buying an additional 29 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Curtiss-Wright by 0.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,319 shares of the aerospace company's stock valued at $1,178,000 after purchasing an additional 29 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Curtiss-Wright by 10.6% in the fourth quarter. Harbour Investments Inc. now owns 312 shares of the aerospace company's stock valued at $111,000 after purchasing an additional 30 shares in the last quarter. Cornerstone Investment Partners LLC grew its position in shares of Curtiss-Wright by 3.6% during the 4th quarter. Cornerstone Investment Partners LLC now owns 918 shares of the aerospace company's stock worth $326,000 after buying an additional 32 shares during the period. Finally, Ascent Group LLC lifted its position in shares of 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 purchasing an additional 33 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, 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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