Curtiss-Wright (NYSE:CW) Hits New 12-Month High – What’s Next?

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CW. Stifel Nicolaus decreased their price target on 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 decreased their target price on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating on the stock in a research report on Thursday, April 17th. Wall Street Zen lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 24th. Citigroup lifted their price target on Curtiss-Wright from $444.00 to $520.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. 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 research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $418.00.

Curtiss-Wright Trading Up 0.6%

The business has a 50-day moving average of $426.26 and a 200 day moving average of $366.97. The stock has a market cap of $18.06 billion, a PE ratio of 42.67, a PEG ratio of 3.13 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.28 and a current ratio of 1.89.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 earnings per share (EPS) 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 analysts’ expectations of $767.32 million. Curtiss-Wright had a net margin of 13.38% and a return on equity of 18.02%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $1.99 EPS. Equities research analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The firm also recently declared 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. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 16th. This represents a $0.96 annualized dividend and a yield of 0.20%. Curtiss-Wright’s payout ratio is 8.54%.

Insider Activity

In related news, CFO K Christopher Farkas sold 4,780 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $350.00, for a total value of $1,673,000.00. Following the sale, the chief financial officer directly owned 9,253 shares of the company’s stock, valued at approximately $3,238,550. This trade represents a 34.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John C. Watts sold 450 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $449.36, for a total transaction of $202,212.00. Following the transaction, the vice president directly owned 4,959 shares of the company’s stock, valued at $2,228,376.24. This trade represents a 8.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,130 shares of company stock valued at $2,726,412 in the last 90 days. 0.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Whipplewood Advisors LLC grew its stake in Curtiss-Wright by 1,566.7% during the first quarter. Whipplewood Advisors LLC now owns 100 shares of the aerospace company’s stock worth $32,000 after buying an additional 94 shares during the period. 1 North Wealth Services LLC acquired a new position in shares of Curtiss-Wright during the 1st quarter valued at $32,000. Minot DeBlois Advisors LLC purchased a new stake in Curtiss-Wright during the 4th quarter worth $35,000. Private Trust Co. NA boosted its position in Curtiss-Wright by 13,800.0% during the 1st quarter. Private Trust Co. NA now owns 139 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 138 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in Curtiss-Wright in the 4th quarter valued at $49,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

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.