Curtiss-Wright (NYSE:CW) Given New $544.00 Price Target at Piper Sandler

Curtiss-Wright (NYSE:CW) had its price target trimmed by Piper Sandler from $586.00 to $544.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the aerospace company’s stock.

Several other brokerages also recently weighed in on CW. Wall Street Zen downgraded Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Citigroup dropped their target price on shares of Curtiss-Wright from $793.00 to $622.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Guggenheim decreased their price target on shares of Curtiss-Wright from $786.00 to $674.00 and set a “buy” rating for the company in a research note on Friday. Stifel Nicolaus reduced their price target on Curtiss-Wright from $700.00 to $518.00 and set a “hold” rating for the company in a report on Monday, October 19th. Finally, Deutsche Bank Aktiengesellschaft set a $801.00 price target on Curtiss-Wright in a research note on Wednesday, August 12th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus target price of $657.12.

Curtiss-Wright Stock Up 7.0%

CW stock traded up $30.33 during trading on Friday, reaching $464.20. The stock had a trading volume of 642,830 shares, compared to its average volume of 408,451. The company’s 50 day moving average is $525.29 and its two-hundred day moving average is $663.50. The company has a market capitalization of $17.14 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 2.02 and a beta of 0.94. Curtiss-Wright has a one year low of $432.70 and a one year high of $808.16. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings data on Wednesday, November 4th. The aerospace company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.76 by $0.18. The business had revenue of $953.00 million for the quarter, compared to analyst estimates of $935.09 million. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.31 earnings per share. Equities research analysts forecast that Curtiss-Wright will post 15.33 EPS for the current year.

Curtiss-Wright Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were given a dividend of $0.26 per share. The ex-dividend date was Friday, September 25th. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright’s dividend payout ratio (DPR) is 7.16%.

Insider Buying and Selling

In other news, EVP John Watts sold 1,035 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the sale, the executive vice president directly owned 2,736 shares of the company’s stock, valued at $1,694,842.56. This represents a 27.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Larry D. Wyche sold 100 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 1,414 shares of the company’s stock, valued at $843,790.36. The trade was a 6.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

A number of institutional investors have recently bought and sold shares of CW. BlackRock Inc. acquired a new stake in Curtiss-Wright during the 2nd quarter worth $3,448,649,000. Primecap Management Co. CA purchased a new stake in Curtiss-Wright during the 2nd quarter worth about $390,106,000. Bank of New York Mellon Corp purchased a new stake in Curtiss-Wright in the second quarter valued at $270,458,000. William Blair Investment Management LLC acquired a new stake in Curtiss-Wright during the 2nd quarter worth $240,442,000. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Curtiss-Wright in the second quarter valued at approximately $124,673,000. 82.71% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Curtiss-Wright

Here are the key news stories impacting Curtiss-Wright this week:

• Positive Sentiment: Third-quarter adjusted earnings were $3.94 per share, above the $3.76 consensus, and revenue of $953 million topped estimates of $935 million, rising 9.6% year over year. The company raised its full-year sales-growth outlook to 8%–10%; backlog reached a record $4.6 billion, up 12% year to date. Curtiss-Wright Q3 results and raised guidance
• Positive Sentiment: Curtiss-Wright also won $225 million in U.S. Navy contracts, adding to its defense-related business prospects. Curtiss-Wright wins $225 million in U.S. Navy contracts
• Neutral Sentiment: Guggenheim lowered its price target from $786 to $674 but kept a Buy rating, indicating continued optimism despite a reduced valuation estimate. Guggenheim rating update
• Negative Sentiment: Piper Sandler cut its target from $586 to $544 and maintained a Neutral rating, signaling more cautious near-term expectations. Piper Sandler rating update

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified industrial company that develops and manufactures engineered products and provides services for the aerospace, defense, power-generation and general industrial markets. Its offerings include actuation and control systems, sensors, valves and pumps, and embedded computing and electronics.

The company serves customers around the world, including aircraft manufacturers and operators, defense contractors, government agencies, and commercial nuclear power providers.