Curtiss-Wright (NYSE:CW) COO Kevin Rayment Sells 2,634 Shares

Curtiss-Wright Corporation (NYSE:CW) COO Kevin Rayment sold 2,634 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total value of $1,649,753.22. Following the sale, the chief operating officer owned 29,896 shares of the company’s stock, valued at approximately $18,724,761.68. This trade represents a 8.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Curtiss-Wright Stock Performance

Shares of CW traded down $4.85 during midday trading on Thursday, hitting $620.08. 308,509 shares of the stock traded hands, compared to its average volume of 234,963. Curtiss-Wright Corporation has a 1-year low of $266.88 and a 1-year high of $683.09. The business’s 50 day moving average price is $593.39 and its two-hundred day moving average price is $548.30. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.75. The firm has a market capitalization of $22.87 billion, a PE ratio of 50.54, a price-to-earnings-growth ratio of 3.08 and a beta of 0.93.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Thursday, November 6th. The aerospace company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.12. Curtiss-Wright had a return on equity of 18.82% and a net margin of 13.78%.The business had revenue of $869.00 million during the quarter, compared to analyst estimates of $869.03 million. During the same period last year, the company posted $2.89 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts predict that Curtiss-Wright Corporation will post 12.32 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be given a $0.24 dividend. The ex-dividend date is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright’s dividend payout ratio (DPR) is currently 7.82%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CW shares. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Morgan Stanley reissued an “overweight” rating and set a $660.00 target price on shares of Curtiss-Wright in a research note on Tuesday, December 16th. Citigroup raised their price target on shares of Curtiss-Wright from $607.00 to $661.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $625.00 price objective on shares of Curtiss-Wright in a report on Wednesday, October 8th. Finally, Truist Financial set a $603.00 price objective on Curtiss-Wright in a research note on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $612.33.

Institutional Trading of Curtiss-Wright

Several large investors have recently modified their holdings of CW. Massachusetts Financial Services Co. MA bought a new stake in shares of Curtiss-Wright during the 2nd quarter valued at $270,731,000. Norges Bank purchased a new position in Curtiss-Wright in the 2nd quarter worth about $241,537,000. Munro Partners bought a new stake in shares of Curtiss-Wright in the second quarter valued at about $78,000,000. AQR Capital Management LLC raised its position in shares of Curtiss-Wright by 45.8% in the 2nd quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock worth $189,468,000 after acquiring an additional 122,048 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Curtiss-Wright during the third quarter worth $62,320,000. Institutional investors own 82.71% of the company’s stock.

Key Curtiss-Wright News

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

• Positive Sentiment: Zacks previews next week’s earnings and notes Wall Street expects earnings growth for Curtiss?Wright, which raises the likelihood of an earnings beat that could support the share price. Curtiss?Wright (CW) Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: The Board declared a quarterly dividend of $0.24 per share (payable April 13, record March 26). The payout is shareholder?friendly but small (?0.2% yield), so it’s unlikely to materially change valuation on its own. Curtiss?Wright Declares Dividend of $0.24 Per Share for Common Stock
• Negative Sentiment: Multiple senior executives sold significant amounts of CW this week — CEO Lynn Bamford (~9,327 shares, ~$5.8M), CFO K. Christopher Farkas (~2,665 shares), COO Kevin Rayment (~2,634 shares) and several VPs also sold smaller lots. Combined insider disposals total roughly $10M+ and represent double?digit % reductions for several officers, which markets often view as a negative signal about near?term insider conviction. See SEC Form 4 filings for details. SEC Form 4 (Lynn M. Bamford)

About Curtiss-Wright

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.