Curtiss-Wright (NYSE:CW) Shares Down 3.5% – Here’s Why

Shares of Curtiss-Wright Corporation (NYSE:CW) traded down 3.5% during mid-day trading on Tuesday . The stock traded as low as $551.56 and last traded at $548.18. Approximately 55,838 shares traded hands 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.

Analyst Ratings Changes

CW has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $860.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, July 15th. Stifel Nicolaus increased their price target on Curtiss-Wright from $724.00 to $768.00 and gave the stock a “hold” rating in a report on Monday, July 20th. Deutsche Bank Aktiengesellschaft set a $801.00 price objective on shares of Curtiss-Wright in a research report on Wednesday, August 12th. Piper Sandler started coverage on shares of Curtiss-Wright in a research report on Wednesday, September 2nd. They set a “neutral” rating and a $665.00 price objective for the company. Finally, Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $768.25.

Curtiss-Wright Stock Performance

The stock has a 50 day moving average of $656.08 and a two-hundred day moving average of $701.03. The stock has a market capitalization of $20.50 billion, a PE ratio of 38.21, a P/E/G ratio of 2.56 and a beta of 0.84. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.10. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The firm had revenue of $924.01 million during the quarter, compared to analysts’ expectations of $926.17 million. During the same quarter in the prior year, the business posted $3.23 earnings per share. Curtiss-Wright’s revenue was up 5.4% compared to the same quarter last year. Research analysts expect that Curtiss-Wright Corporation will post 15.27 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 25th will be issued a $0.26 dividend. The ex-dividend date is Friday, September 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s payout ratio is 7.16%.

Insider Activity

In other Curtiss-Wright news, Director Larry D. Wyche sold 100 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the transaction, the director directly owned 1,414 shares of the company’s stock, valued at approximately $843,790.36. This trade represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John C. Watts sold 1,035 shares of Curtiss-Wright stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,694,842.56. The trade was a 27.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Curtiss-Wright

A number of institutional investors and hedge funds have recently modified their holdings of CW. Sequoia Financial Advisors LLC increased its position in shares of Curtiss-Wright by 13.7% in the second quarter. Sequoia Financial Advisors LLC now owns 13,097 shares of the aerospace company’s stock valued at $9,924,000 after buying an additional 1,583 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Curtiss-Wright by 2.4% in the 2nd quarter. Tidal Investments LLC now owns 13,462 shares of the aerospace company’s stock worth $10,201,000 after buying an additional 310 shares in the last quarter. Van Hulzen Asset Management LLC boosted its position in shares of Curtiss-Wright by 38.1% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 794 shares of the aerospace company’s stock worth $602,000 after buying an additional 219 shares in the last quarter. National Pension Service grew its stake in Curtiss-Wright by 2,974.9% in the 2nd quarter. National Pension Service now owns 63,928 shares of the aerospace company’s stock valued at $48,442,000 after acquiring an additional 61,849 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Curtiss-Wright in the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Curtiss-Wright Company Profile

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.