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

Curtiss-Wright Corporation (NYSE:CW)’s share price reached a new 52-week low on Wednesday. The stock traded as low as $451.95 and last traded at $462.8510, with a volume of 172,951 shares traded. The stock had previously closed at $497.76.

Curtiss-Wright News Summary

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

Analysts Set New Price Targets

CW has been the subject of several analyst reports. Morgan Stanley decreased their price objective on shares of Curtiss-Wright from $860.00 to $625.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Weiss Ratings downgraded Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Stifel Nicolaus reduced their target price on Curtiss-Wright from $700.00 to $518.00 and set a “hold” rating for the company in a report on Monday, October 19th. Citigroup decreased their price target on Curtiss-Wright from $793.00 to $622.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Finally, Piper Sandler dropped their price target on Curtiss-Wright from $586.00 to $544.00 and set a “neutral” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $657.12.

Curtiss-Wright Stock Performance

The company has a market cap of $17.14 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 1.89 and a beta of 0.94. The company’s 50-day moving average is $528.12 and its two-hundred day moving average is $664.43. 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 14.86% and a return on equity of 20.91%. 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 analysts predict that Curtiss-Wright Corporation will post 15.33 EPS for the current year.

Curtiss-Wright Increases Dividend

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

Insider Buying and Selling

In related 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 value of $641,141.10. Following the transaction, the executive vice president owned 2,736 shares in the company, valued at approximately $1,694,842.56. This represents a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry D. Wyche sold 100 shares of the company’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 transaction, the director owned 1,414 shares in the company, valued at approximately $843,790.36. The trade was a 6.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Curtiss-Wright during the second quarter worth about $3,448,649,000. Primecap Management Co. CA purchased a new position in shares of Curtiss-Wright in the 2nd quarter worth about $390,106,000. Bank of New York Mellon Corp bought a new position in shares of Curtiss-Wright during the 2nd quarter valued at about $270,458,000. William Blair Investment Management LLC bought a new position in shares of Curtiss-Wright during the 2nd quarter valued at about $240,442,000. Finally, First Trust Advisors LP raised its holdings in shares of Curtiss-Wright by 19.9% during the 1st quarter. First Trust Advisors LP now owns 206,021 shares of the aerospace company’s stock valued at $140,325,000 after buying an additional 34,191 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

About Curtiss-Wright

Curtiss-Wright Corporation (NYSE: CW) is a diversified industrial company that provides highly engineered products and services to the aerospace, defense, commercial nuclear power, and general industrial markets. The company designs and manufactures equipment used in applications that require reliable performance in demanding operating environments.

Its products and technologies include motion-control systems, valves, pumps, actuation equipment, sensors, data-acquisition systems, embedded computing products, and aircraft structural components.