Curtiss-Wright Co. (NYSE:CW) Director Sells $851,200.00 in Stock

Curtiss-Wright Co. (NYSE:CW) Director Bruce D. Hoechner sold 1,900 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $448.00, for a total transaction of $851,200.00. Following the transaction, the director now owns 4,523 shares in the company, valued at $2,026,304. The trade was a 29.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Curtiss-Wright Trading Up 1.0%

Shares of NYSE CW opened at $453.36 on Friday. The company’s 50 day simple moving average is $368.49 and its 200 day simple moving average is $354.24. Curtiss-Wright Co. has a fifty-two week low of $258.85 and a fifty-two week high of $455.22. The firm has a market capitalization of $17.07 billion, a P/E ratio of 42.97, a P/E/G ratio of 2.48 and a beta of 1.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.69 and a quick ratio of 1.19.

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

Curtiss-Wright Increases Dividend

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

Institutional Investors Weigh In On Curtiss-Wright

Several hedge funds have recently bought and sold shares of CW. Janney Montgomery Scott LLC raised its holdings in Curtiss-Wright by 28.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,653 shares of the aerospace company’s stock worth $941,000 after purchasing an additional 584 shares during the period. Caprock Group LLC raised its holdings in shares of Curtiss-Wright by 6.4% during the fourth quarter. Caprock Group LLC now owns 947 shares of the aerospace company’s stock worth $336,000 after acquiring an additional 57 shares during the period. DAVENPORT & Co LLC raised its holdings in shares of Curtiss-Wright by 5.0% during the fourth quarter. DAVENPORT & Co LLC now owns 1,194 shares of the aerospace company’s stock worth $424,000 after acquiring an additional 57 shares during the period. Spire Wealth Management acquired a new stake in shares of Curtiss-Wright during the fourth quarter worth $102,000. Finally, YANKCOM Partnership acquired a new stake in shares of Curtiss-Wright during the fourth quarter worth $31,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CW. Stifel Nicolaus reduced their target price on shares of Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. 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 research report on Thursday, April 17th. Citigroup cut their price objective on shares of Curtiss-Wright from $450.00 to $424.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Wall Street Zen lowered shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 24th. Finally, 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $404.29.

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.