Curtiss-Wright (NYSE:CW) Hits New 12-Month High – Here’s Why

Curtiss-Wright Corporation (NYSE:CW)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $617.39 and last traded at $613.74, with a volume of 17581 shares changing hands. The stock had previously closed at $605.10.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Citigroup began coverage on Curtiss-Wright in a research report on Thursday, December 11th. They set a “neutral” rating and a $607.00 target price for the company. Truist Financial set a $603.00 price target on shares of Curtiss-Wright in a report on Friday. Stifel Nicolaus reduced their price objective on Curtiss-Wright from $587.00 to $584.00 and set a “hold” rating on the stock in a report on Tuesday, December 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $660.00 target price on shares of Curtiss-Wright in a research report on Tuesday, December 16th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Curtiss-Wright has a consensus rating of “Moderate Buy” and an average price target of $596.50.

Curtiss-Wright Trading Up 1.6%

The company has a market cap of $22.67 billion, a price-to-earnings ratio of 50.08, a P/E/G ratio of 2.75 and a beta of 0.95. The company’s fifty day moving average is $560.87 and its two-hundred day moving average is $527.40. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.75.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Thursday, November 6th. The aerospace company reported $3.40 EPS for the quarter, beating the consensus estimate of $3.28 by $0.12. The company had revenue of $869.00 million for the quarter, compared to analyst estimates of $869.03 million. Curtiss-Wright had a net margin of 13.78% and a return on equity of 18.82%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.89 earnings per share. On average, research analysts anticipate that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, November 28th. Curtiss-Wright’s payout ratio is presently 7.82%.

Insider Activity at Curtiss-Wright

In related news, EVP John C. Watts sold 288 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $600.00, for a total transaction of $172,800.00. Following the completion of the transaction, the executive vice president owned 3,188 shares in the company, valued at $1,912,800. This represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 513 shares of company stock worth $302,586 over the last three months. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CW. Atlantic Union Bankshares Corp purchased a new stake in shares of Curtiss-Wright in the third quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Curtiss-Wright in the 2nd quarter valued at $27,000. Penserra Capital Management LLC purchased a new stake in Curtiss-Wright in the 2nd quarter valued at $29,000. Larson Financial Group LLC increased its stake in shares of Curtiss-Wright by 53.8% in the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 21 shares during the last quarter. Finally, First Horizon Corp purchased a new position in shares of Curtiss-Wright during the 3rd quarter worth $34,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.