Curtiss-Wright (NYSE:CW) Reaches New 52-Week High – Here’s What Happened

Curtiss-Wright Corporation (NYSE:CW)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $808.16 and last traded at $774.40, with a volume of 11022 shares. The stock had previously closed at $792.77.

Analyst Ratings Changes

Several research firms have recently issued reports on CW. Weiss Ratings downgraded Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Citigroup lifted their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Stifel Nicolaus set a $724.00 target price on shares of Curtiss-Wright in a report on Friday, May 8th. Finally, Robert W. Baird set a $870.00 price target on shares of Curtiss-Wright in a research report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $749.67.

Curtiss-Wright Price Performance

The firm has a market cap of $28.07 billion, a P/E ratio of 55.67, a P/E/G ratio of 3.55 and a beta of 0.86. The company has a quick ratio of 1.05, a current ratio of 1.52 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $743.45 and its two-hundred day moving average is $692.63.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Thursday, May 7th. The aerospace company reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.16. Curtiss-Wright had a net margin of 14.17% and a return on equity of 20.00%. The business had revenue of $913.69 million for the quarter, compared to analysts’ expectations of $863.83 million. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, analysts anticipate that Curtiss-Wright Corporation will post 15.17 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio is presently 7.62%.

Insider Buying and Selling

In related news, EVP John C. Watts sold 220 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $752.91, for a total transaction of $165,640.20. Following the completion of the sale, the executive vice president owned 3,962 shares of the company’s stock, valued at $2,983,029.42. This trade represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lynn M. Bamford sold 2,500 shares of Curtiss-Wright stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $721.72, for a total value of $1,804,300.00. Following the completion of the sale, the chief executive officer owned 48,134 shares of the company’s stock, valued at approximately $34,739,270.48. The trade was a 4.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,119 shares of company stock valued at $2,257,998 over the last 90 days. Company insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Curtiss-Wright by 1.2% in the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock valued at $780,091,000 after purchasing an additional 16,962 shares in the last quarter. Invesco Ltd. increased its position in Curtiss-Wright by 7.9% in the 4th quarter. Invesco Ltd. now owns 1,217,608 shares of the aerospace company’s stock valued at $671,231,000 after buying an additional 88,688 shares in the last quarter. Geode Capital Management LLC raised its stake in Curtiss-Wright by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 841,788 shares of the aerospace company’s stock worth $464,130,000 after buying an additional 47,287 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Curtiss-Wright by 5.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 768,260 shares of the aerospace company’s stock worth $423,519,000 after buying an additional 39,515 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Curtiss-Wright by 9.3% in the fourth quarter. AQR Capital Management LLC now owns 533,264 shares of the aerospace company’s stock worth $293,972,000 after acquiring an additional 45,589 shares in the last quarter. 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, 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.