Curtiss-Wright (NYSE:CW) Shares Down 3.5% - What's Next?

Key Points

• Curtiss-Wright shares fell 3.5% to about $548.18 in light trading, well below the stock’s 50-day and 200-day moving averages.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $768.25; targets range from $768 to $860 among recent analysts.
• The company exceeded quarterly EPS expectations, reporting $3.72 versus $3.62 forecast, while revenue rose 5.4% year over year. Curtiss-Wright also raised its quarterly dividend to $0.26 per share, though insiders recently sold shares.

Curtiss-Wright Corporation (NYSE:CW - Get Free Report)'s share price dropped 3.5% during trading on Tuesday . The company traded as low as $551.56 and last traded at $548.18. Approximately 55,838 shares were traded during mid-day trading, a decline of 82% from the average session volume of 303,502 shares. The stock had previously closed at $568.02.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CW shares. Morgan Stanley reissued an "overweight" rating and set a $860.00 target price on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Guggenheim initiated coverage on shares of Curtiss-Wright in a report on Monday, September 14th. They issued a "buy" rating and a $786.00 price target for the company. Wall Street Zen downgraded shares of Curtiss-Wright from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Stifel Nicolaus boosted their price objective on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a "hold" rating in a report on Monday, July 20th. Finally, Citigroup upped their target price on Curtiss-Wright from $775.00 to $793.00 and gave the company a "neutral" rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $768.25.

Curtiss-Wright Trading Down 2.3%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 38.21, a P/E/G ratio of 2.56 and a beta of 0.84. The company's fifty day moving average is $656.08 and its two-hundred day moving average is $701.03.

Curtiss-Wright (NYSE:CW - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 EPS for the quarter, beating the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The business had revenue of $924.01 million during the quarter, compared to analysts' expectations of $926.17 million. During the same period in the previous year, the business posted $3.23 EPS. The business's quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts anticipate that Curtiss-Wright Corporation will post 15.27 EPS for the current year.

Curtiss-Wright Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $1.04 annualized dividend and a yield of 0.2%. This is an increase from Curtiss-Wright's previous quarterly dividend of $0.24. Curtiss-Wright's payout ratio is 7.16%.

Insider Activity at Curtiss-Wright

In related news, EVP John C. Watts sold 1,035 shares of the firm's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total transaction of $641,141.10. Following the sale, the executive vice president owned 2,736 shares in the company, valued at approximately $1,694,842.56. This trade represents a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry D. Wyche sold 100 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $596.74, for a total transaction of $59,674.00. Following the sale, the director directly owned 1,414 shares in the company, valued at approximately $843,790.36. The trade was a 6.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by company insiders.

Institutional Trading of Curtiss-Wright

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Curtiss-Wright in the 2nd quarter valued at $3,448,649,000. Pacer Advisors Inc. boosted its stake in Curtiss-Wright by 114.8% during the 4th quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company's stock worth $5,931,000 after purchasing an additional 5,749 shares during the period. Concurrent Investment Advisors LLC grew its position in Curtiss-Wright by 220.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,073 shares of the aerospace company's stock worth $2,329,000 after purchasing an additional 2,113 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in Curtiss-Wright during the 2nd quarter worth $1,325,000. Finally, Smith Chas P & Associates PA Cpas acquired a new position in Curtiss-Wright in the fourth quarter valued at $1,005,000. 82.71% of the stock is owned by institutional investors and hedge funds.

About Curtiss-Wright

Curtiss-Wright Corporation NYSE: CW is a diversified industrial company that develops and manufactures highly engineered products and services for the aerospace, defense, commercial nuclear and general industrial markets. Its offerings include sensors, actuators, valves, pumps, electronic systems, embedded computing products, surface-treatment services and other components designed for demanding operating environments.

The company serves aerospace and defense customers with products used in aircraft, naval vessels, ground vehicles, missile systems and other defense platforms.

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